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Time for a home makeover? Give us a missed call and make it happen!/ Refresh, renew, renovate—easy loans for your home makeover.
Transforming your home into the space you have always dreamed of. Upgrading the kitchen, creating a cosy new room, or refreshing the walls and floors with your favourite colours and materials. With our Home Renovation Loan, you can make these dreams a reality. At DMI Housing Finance, we are providing this loan at an affordable interest rate starting at 9.5%. You can take a home renovation loan of up to Rs.75 lakh for a flexible tenure of up to 30 years, and this loan is designed to make home improvement simple and affordable, with flexible options that allow you to enhance your space without financial strain.
We believe everyone should have a chance to enhance their home, regardless of their profession or tax profile. That’s why we have designed flexible eligibility criteria to accommodate a wide range of individual needs, making it easier for you to bring your renovation dreams to life.
Age: 21 to 65 years
Eligible Employment Types: Private, Government, MNC, and contractual employees
Minimum Monthly Income: Rs. 10,000
Loan Tenure: Up to 30 years
Age: 21 to 65 years
Loan Amount: Up to Rs. 15 lakh
Minimum Monthly Income: Rs. 10,000 onwards
Loan Tenure: Up to 30 years
Age: 21 to 75 years
Eligible Applicants: Business professionals and non-professional individuals file ITR.
Minimum Monthly Income: Rs. 10,000
Loan Tenure: Up to 30 years
Eligibility Based On: GST Turnover
Age: 21 to 75 years
Eligible Applicants: Business professionals and non-professionals do not file ITR.
Minimum Monthly Income: Rs. 10,000
Loan Tenure: Up to 30 years
Eligibility Based On: Banking churning and average daily bank balance
Get all the answers to your top Home Renovation Loans FAQs with DMI Housing Finance
Yes, DMI Housing Finance provides a Home Renovation Loan to enhance your house to your comfort level. This loan is available at competitive interest rates for up to 30 years.
Yes, a home renovation loan is eligible for tax exemption. You can claim up to Rs.30,000 annually for a tax deduction under section 24 for a self-occupied home. This limit is a part of the Rs.2 lakh annual limit for tax deduction provided under section 24(b) for a home loan interest payment. For example, if you have a home loan and a home renovation, you have already claimed Rs.1.8 lakh for your home loan interest payment, then you can claim up to Rs.20000 for a home renovation loan interest payment. Tax deduction under section 80(c) is not allowed for home renovation loans.
A home loan is for buying an under-construction or ready-to-move-in house or constructing a house, while a home renovation loan is designed to finance repairs, improvements, or extensions of an existing home.
No, it is not essential, but having a good credit score is important when taking out any loan. A higher credit score increases your loan approval chances and can help secure better interest rates.
You can easily calculate your home renovation loan EMI using the DMI Housing Finance EMI Calculator. Provide details like loan amount, interest rate and tenure, and know your EMI in seconds.
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