A home loan for renovation, also called a home improvement loan, is a convenient way to fund upgrades, repairs, and remodelling of your property. With Bajaj Finserv, you can enjoy simple eligibility requirements, flexible repayment tenures, and access to competitive loan amounts tailored to your needs. Whether it’s small-scale improvements or large renovations, these loans give you the financial support to modernise your living space with ease.
Home loan for renovation interest rates 2025
The table below outlines the starting interest rates for home loans from Bajaj Finserv that can be used for your home improvement needs.
Applicant type |
Interest rate starting from |
Salaried |
7.45%* p.a |
Self-employed |
7.85%* p.a. |
Home loan for renovation eligibility
In order to be eligible for a home loan from Bajaj Finserv, here are the basic eligibility criteria applicants must meet:
Criteria |
Details |
Nationality |
Indian citizen residing in India |
Age |
23 years to 67 years (salaried applicant) 23 years to 70 years (self-employed applicant) |
CIBIL Score |
725 or higher |
Occupation |
Salaried employee, professional individual, or self-employed individual are eligible to apply |
Curious to know how you qualify? Check your eligibility now by entering your mobile phone number and verifying it with an OTP.
Loan for home improvement - Key features and benefits
Easy home improvement loan eligibility
Bajaj Finserv makes it simple to qualify for a home loan for renovation, requiring only basic eligibility checks and standard documents. Even if you have limited income proof, you may still be assessed fairly to determine a comfortable repayment amount. To strengthen your application, you can include a co-applicant, such as your spouse or a close family member. This flexibility ensures that more homeowners can access the funds they need.
Loans for all homeowners
Whether you are salaried or self-employed, Bajaj Finserv provides home improvement loans tailored to different financial profiles. Salaried professionals, government employees, doctors, lawyers, and small business owners alike can apply. The loan ensures that your home remains safe, comfortable, and aligned with your lifestyle, while giving your family the ideal environment to live and grow.
Repairs, renovations and more
From small upgrades to large-scale changes, Bajaj Finserv finances a wide variety of projects. Loan amounts can go up to Rs. 15 Crore*, depending on eligibility. You can use the funds for painting, tiling, waterproofing, plumbing, bathroom or kitchen upgrades, or even structural improvements. The only condition is that the project should be completed within a reasonable time frame.
Quick loan disbursal
Bajaj Finserv is known for fast and hassle-free loan processing. Once your application and documents are submitted, the approval and disbursal process is swift, ensuring that you can begin your renovation project without delays. With expert support, you get clear answers to all your queries, making the entire journey simple and efficient.
Interest rates and tax benefits
By choosing Bajaj Finserv, you benefit from competitive interest rates and the potential to reduce your taxable income under Section 24 of the Income Tax Act, 1961. This means you can save on your overall cost of borrowing while also increasing the value of your property through essential improvements.
Documents required for home improvement financing
Category |
Salaried applicants |
Self-employed applicants |
Property documents |
Sale deed, stamped agreement of sale, or allotment letter NOC from housing society or builder Possession certificate and land tax receipt from land/revenue department Detailed estimation of construction cost Bank account statement or payment receipt detailing payment made to seller or builder Occupancy certificate (for constructed apartments) |
Sale deed, stamped agreement of sale, or allotment letter NOC from housing society or builder Possession certificate and land tax receipt from land/revenue department Detailed estimation of construction cost Bank account statement or payment receipt detailing payment made to seller or builder Occupancy certificate (for constructed apartments) |
Identity proof (any one) |
Aadhaar PAN Voter ID Passport Driving License |
Aadhaar PAN Voter ID Passport Driving License |
Address proof (any one) |
Any of the above identity proof documents with the permanent address Electricity bill Telephone bill Post-paid mobile bill Water tax receipt Property tax receipt |
Any of the above identity proof documents with the permanent address Electricity bill Telephone bill Post-paid mobile bill Water tax receipt Property tax receipt |
Additional documents |
Passport-sized photograph |
Passport-sized photograph |
Proof of income/business existence |
Proof of income (latest salary slips), and |
PAN GST registration certificate Trade license Partnership deed Articles of Association/Memorandum of Association Import Export Code SEBI registration certificate ROC registration certificate |
Financial statements |
N/A |
Profit & Loss Account Statement (Audited by a CA) Balance Sheet (Audited by a CA) |
Bank account statement |
Account statements for the last 6 months |
Account statements for the last 6 months |
Loan for house renovation – Fees and charges
Type of fee |
Applicable charges |
||
Rate of interest |
Salaried |
Self-employed |
Doctors |
7.45%* to 18%* p.a. |
7.85%* to 18.00%* p.a. |
7.55%* to 18%* p.a. |
|
Processing fees |
Up to 4% of the loan amount + GST as applicable |
||
Bounce charges |
For loan amounts up to Rs. 15 lakhs: Rs. 500 For loan amounts from Rs. 15,00,001 to Rs. 30,00,000: Rs. 500 For loan amounts from Rs. 30,00,001 to Rs. 50,00,000: Rs. 1,000 For loan amounts from Rs. 50,00,001 to Rs. 1,00,00,000: Rs. 1,000 For loan amounts from Rs. 1,00,00,001 to Rs. 5,00,00,000: Rs. 3,000 For loan amounts from Rs. 5,00,00,001 to Rs. 10,00,00,000: Rs. 3,000 For loan amounts more than Rs. 10 crores: Rs. 10,000 |
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Penal charge |
Click here to know about the penal charges. |
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Interest and Principal Statement Charges |
NIL |
||
Part-prepayment charges |
(1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes: For Term Loan – Nil For Flexi Term Loan – Nil (2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans: For Term Loan – 2% on the part-prepayment amount. Flexi Term Loan - Nil *GST as applicable will be payable by the borrower in addition to the prepayment charges, if any. **Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution. Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date. |
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Foreclosure Charges |
(1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes: For Term Loan – Nil For Flexi Term Loan – Nil (2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans: For Term Loan – 4%* on principal outstanding For Flexi Term Loan – 4%* on the sanctioned amount during the Flexi interest only loan repayment tenure; and 4%* on the available Flexi loan limit during the Flexi Term Loan tenure *GST as applicable will be payable by the borrower in addition to the prepayment charges, if any. **Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution. Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date. |
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Common home renovation loan options
When it comes to financing home upgrades, lenders offer multiple solutions designed to match different requirements. Depending on the project’s size, urgency, and your repayment capacity, you can choose from the following options:
Type of loan |
Best for |
Key features |
Home improvement loan |
Large renovations such as adding a new room, remodelling kitchens, or upgrading bathrooms. |
|
Personal loan |
Smaller projects like repainting, new fixtures, or minor upgrades. |
|
Top-up loan |
Homeowners who already have a Bajaj Finserv home loan but need extra funds. |
|
These financing options ensure that you can find a suitable solution regardless of whether your project involves small aesthetic upgrades or large-scale structural changes.
Why choose Bajaj Finserv for a home loan for renovation?
Attractive interest rates: Enjoy competitive interest rates that make borrowing affordable and cost-effective.
Zero prepayment charges: Repay your loan early without any penalties, giving you financial flexibility.
Quick approvals and processing: Fast-tracked application reviews and swift loan disbursals so your renovation project begins without delay.
Flexible loan tenure: Choose repayment terms that suit your budget, with tenures extending up to 32 years.
High loan amounts: Access loan amounts up to Rs. 15 Crore*, depending on your eligibility and financial profile.
Minimal documentation: A simple paperwork process ensures hassle-free loan approval.
Top-up facility: If you already have a home loan with Bajaj Finserv, you can opt for a top-up loan of up to Rs. 1 Crore* to finance your renovations easily.
Tax benefits: Claim deductions on interest paid under Section 24 of the Income Tax Act, lowering your effective borrowing cost.
Dedicated customer support: Experienced representatives guide you through every step, answering queries and ensuring a smooth borrowing experience.
Customised solutions: Tailored loans for different types of borrowers, whether salaried or self-employed.
How to apply for a home loan for renovation
Click on the ‘APPLY’ button on this page.
Enter your full name, mobile number, and employment type.
Select the type of loan for which you want to apply.
Generate and submit your OTP to verify your mobile number.
Provide details like monthly income, required loan amount, and whether you have identified the property.
Enter additional details such as date of birth, PAN, and other occupation-specific information.
Click on ‘SUBMIT’.
That’s it! Your application is complete, and a Bajaj Finserv representative will contact you to guide you further.
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