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Home > Home Extension Loans

Home Extension Loans

As your family grows larger, the need for additional space becomes paramount. DHFL offers exclusive Home Extension Loans to extend your existing home by adding a bedroom, enclosing an open balcony or building an extra room on the terrace, etc.


Features and Benefits of DHFL Home Extension Loan

    1. Tenure & Term: The tenure of your Home Extension Loan ranges from 1 to 20 years. The term however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self employed individuals)
    2. Purpose:  Avail a Home Extension loan to extend an owned home
    3. Reduce your EMI : With tenure of 20 years, you can reduce the EMI amount so that your outgoings every month do not come in the way of your lifestyle and living standards
    4. Interest Rates: The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions
    5. Processing Fees (Non-Refundable) : This is charged as the fee towards processing your  loan application

      Salaried individuals (SAL) / Self-Employed Professionals (SEP)

       Self-Employed Non Professionals (SENP)

      `5000* to `20,000*

      1.5%*

      *Service Tax and Cess as applicable

    6. Easy Repayments:  You have 2 options for repayment of the loan based on the EMIs payable on your Home Loan:
      a. Through ECS (Electronic Clearing Service) based on standing instructions to your bank
      b. Post Dated Cheques (PDCs) drawn on your Savings/Salary account.
    7. Home Loan Tax Benefits: Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is `2,00,000/- for the interest amount paid in the financial year and up to `1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
    8. Applicant and Co-Applicant: Home Loans can be applied for individually. The loan amount can be further enhanced by including an earning co-applicant.
    9. Stamp Duty: Stamp duty on the loan documents to be executed shall be paid by the Applicant.
    10. Easy Documentation: To enable us to speedily process your home loan application, we will require the following:
      a. KYC (Know Your Customer) documents
      b. Proof of Income documents and bank statements as per log-in checklist
      c. Property related documents

Eligibility for Home Extension Loan

You can get a loan of up to 100% of the home extension cost estimate as certified by a chartered engineer/architect and duly verified by DHFL, but subject to maximum of 80% of overall market value of the property or a maximum of `100 lacs, whichever is lower. Get a higher loan amount from DHFL by including an earning co-applicant.

The actual Home Loan amount is determined taking into various account factors such as:

  • Repayment capacity
  • Age
  • Educational qualifications
  • Stability and continuity of income
  • Number of dependents
  • Co-applicant’s income
  • Assets
  • Liabilities
  • Saving habits, and more

Documentation Required For Home Extension Loan

Click here for the list of documents required.


Home Extension Loan: Services & Charges

Click here to view the Services and Charges

FAQs

Click here to view the FAQs.


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