RSP LIC Housing Finance Limited
Home Improvement Loans
RSP LIC HFL provides loans for home renovation or improvement, ensuring your dream home becomes a reality.
- RSP LIC Housing Finance Limited provides certain loans for renovating or enhancing your home. Whether it’s renovating your kitchen, upgrading bathrooms, or extending living spaces, our loans cover it all.
- With flexible repayment options and competitive interest rates, you can transform your living space without financial strain. Our process ensures quick approvals, making your renovation smooth and efficient.
- Trust RSP LIC HFL to support your vision of a perfect home with our renovation loans.
Learn More About
RSP LIC HFL's Home Improvement Loan
RSP LIC Housing Finance Limited (RSP LIC HFL) provides specialized loans for various home improvement needs. These loans cover a wide range of renovation projects, from simple upgrades like kitchen renovations to more extensive endeavors like adding living space. Through these loans, homeowners can undertake renovation projects without worrying about financial constraints.
One of the standout features of RSP LIC HFL’s Renovation and Extension Loan is its flexibility in repayment. This ensures that homeowners can choose a repayment plan that aligns with their financial situation. Additionally, RSP LIC HFL offers competitive interest rates, making the loan an affordable option for financing home improvement projects.
RSP LIC HFL prioritizes efficiency in its loan approval process. Quick approvals mean that homeowners can proceed with their renovation plans without unnecessary delays or bureaucratic hurdles. This streamlined approach ensures a smooth and efficient experience for borrowers.
When considering home improvement financing options, it’s crucial to compare interest rates to secure the best deal. RSP LIC HFL offers attractive interest rates on its RSP Renovation Loan, ensuring that borrowers can access cost-effective financing for their projects.
In addition to traditional home improvement loans, RSP LIC HFL provides personalized loans specifically for home improvement purposes. These loans offer flexibility and convenience, allowing borrowers to finance their renovation projects without using their homes as collateral.
RSP LIC HFL recognizes the importance of supporting homeowners undertaking government-approved remodeling projects. Whether it’s roof replacement or energy-efficient upgrades, RSP LIC HFL’s renovation loans can provide the necessary funds with favorable loan terms.
Contractors seeking financing options for home improvement projects can benefit from RSP LIC HFL’s specialized financing solutions. These solutions offer competitive rates and flexible repayment terms, enabling contractors to manage their cash flow effectively while delivering quality renovation services.
RSP LIC HFL’s renovation loans offer a convenient and affordable way to finance home improvement projects. With flexible repayment options, competitive interest rates, and quick approvals, homeowners can transform their houses into dream homes without financial strain. Trust RSP LIC HFL to support your vision of a perfect home with its comprehensive range of renovation loan products.
Maximum Loan Amount and Repayment Period
RSP LIC HFL offers a maximum loan amount and repayment period that depend on different factors.
- 90% of the property value is available for loans up to Rs. 30 lakhs.
- 80% of the property value is available for loans more than Rs. 30 lakhs and up to Rs. 75 lakhs.
- 75% of the property value is available for loans above Rs. 75 lakhs.
- For Salaried up to 30 Years
- For Self-employed up to 20 Years
Features
RSP LIC HFL - Home Renovation Loan Features
RSP LIC HFL Home Renovation makes upgrading your home easy with flexible financing, competitive rates, and personalized support for your needs.
- Online plot loan sanction facility
- Quick sanction and low EMI
- Simple Documentation
- Amongst the lowest rate of interest
- Available for both existing and new customers
CIBIL Range
Interest Rate on Home Loan
Note: ROI updated as on 01.05.2024 - LHPLR - 17.05% 1. For joint applicants, we consider the CIBIL score of the applicant with the highest score. 2. The total loan amount should not go beyond 10 crores under the Advantage Plus Scheme.
Salaried & Professional:
- 8.50% (Up to 2 Crores)
- 8.70% (More than 2 Crores & up to 15 Crores)
Non-Salaried & Non-Professional:
- 8.60% (Up to 2 Crores)
- 8.80% (More than 2 Crores & up to 15 Crores)
Salaried & Professional:
- 8.75% (Up to 2 Crores)
- 8.95% (More than 2 Crores & up to 15 Crores)
Non-Salaried & Non-Professional:
- 8.85% (Up to 2 Crores)
- 9.05% (More than 2 Crores & up to 15 Crores)
Salaried & Professional:
- 9.55% (Up to 50 Lakhs)
- 9.75% (More than 50 Lakhs & up to 2 Crores)
- 9.90% (More than 2 Crores & up to 15 Crores)
Non-Salaried & Non-Professional:
- 9.65% (Up to 50 Lakhs)
- 9.85% (More than 50 Lakhs & up to 2 Crores)
- 10.00% (More than 2 Crores & up to 15 Crores)
Salaried & Professional:
- 10.00% (Up to 50 Lakhs)
- 10.20% (More than 50 Lakhs & up to 2 Crores)
- 10.40% (More than 2 Crores & up to 5 Crores)
Non-Salaried & Non-Professional:
- 10.10% (Up to 50 Lakhs)
- 10.30% (More than 50 Lakhs & up to 2 Crores)
- 10.50% (More than 2 Crores & up to 5 Crores)
Salaried & Professional:
- 8.75% (Up to 2 Crores)
Non-Salaried & Non-Professional:
- 8.85% (Up to 2 Crores)
Salaried & Professional:
- 9.25% (Up to 2 Crores)
Non-Salaried & Non-Professional:
- 9.35% (Up to 2 Crores)
Salaried & Professional:
- 8.35% CIBIL >= 825 (More than 10 Lakhs & up to 2 Crores)
- 8.35% CIBIL >= 825 (More than 2 Crores & up to 10 Crores)
- 8.95% CIBIL 700-749 (More than 10 Lakhs & up to 2 Crores)
- 8.75% CIBIL 700-749 (More than 2 Crores & up to 10 Crores)
Non-Salaried & Non-Professional:
- 8.60% CIBIL >= 825 (More than 10 Lakhs & up to 2 Crores)
- 8.80% CIBIL >= 825 (More than 2 Crores & up to 10 Crores)
- 9.05% CIBIL 700-749 (More than 10 Lakhs & up to 2 Crores)
- 8.85% CIBIL 700-749 (More than 2 Crores & up to 10 Crores)
Salaried & Professional:
- 10.00% CIBIL => 750 (Up to 15 Crores) (fixed for entire term)
- 10.25% CIBIL < 750 (Up to 15 Crores) (fixed for entire term)
Non-Salaried & Non-Professional:
- 10.00% CIBIL => 750 (Up to 15 Crores) (fixed for entire term)
- 10.25% CIBIL < 750 (Up to 15 Crores) (fixed for entire term)
Cibil Score: 750 & above
- Loan Slab: Up to Rs. 15 Crores
- ROI: 9.10%
Cibil Score: 700-749
- Loan Slab: Up to Rs. 15 Crores
- ROI: 9.25%
Documents
Documents Required to Proceed Further
Document (Title Deed)
Parent Documents
Plan Approval & Order Copy
Estimate
E.C.(Encumbrance Certificate) 1987 to till date
Actual Plan
Sale Agreement (Rs.20 Stamp Paper)
Sale Deed
Parent Documents
House Tax (Latest)
Plan Approval
E.C.(Encumbrance Certificate) 1987 to till date
Construction Agreement
Registered Sale Deed
Documents (Title Deed)
Parent Documents
Plan Approval, Order and Actual Plan
E.C.(Encumbrance Certificate) 1987 to till date
Housing Loan Services
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- Self Employed
- NRI Person
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Types of Loans
Other Types of RSP LIC Housing Loans
RSP LIC HFL's range of housing loans, offering competitive rates, personalized terms, quick processing, and dedicated customer support for your needs.
Home loans are financial products offered by banks or lenders to help individuals purchase or renovate residential properties, repaid over a specified period with interest. Click here to learn more.
Plot loans are financial products provided by banks or lenders specifically for purchasing residential plots or parcels of land. These loans typically cover the cost of acquiring the land, and repayment terms vary based on the lender’s policies. Click here to learn more.
Home construction loans provide financing for building a new home, covering construction costs like materials and labor. Funds are typically disbursed in stages as construction progresses. Click here to learn more.
Home improvement loans offer funds for renovating, remodeling, or upgrading existing homes. They’re designed to cover expenses such as repairs, additions, or aesthetic enhancements. Click here to learn more.
A home extension loan finances expanding your house, typically secured against property value, with repayment over a fixed term. Click here to learn more.
Loan against property (LAP) allows borrowers to leverage their property’s value as collateral for a loan, providing funds for various purposes with repayment over an agreed term. Click here to learn more.
A home loan top-up allows existing borrowers to borrow additional funds on top of their current home loan, usually at a competitive interest rate. Click here to learn more.
Home loan balance transfer involves moving your existing home loan from one lender to another with better terms, such as lower interest rates or improved repayment options. Click here to learn more.
These are financing options provided to businesses or entities for specific projects or corporate purposes, typically involving large sums of money and structured repayment terms. Click here to learn more about Corporate & Project Loans.
Home loans for Non-Resident Indians (NRIs) allow them to purchase property in India, often with specific eligibility criteria and documentation. Click here to learn more.