Housing Renovation Loan

Eligibility includes salaried individuals, business owners, self- employed professionals like doctors, engineers, lawyers, chartered accountants, and entrepreneurs.

Yes. The tenure of the renovation loan will be the lower of 10 years or the remaining term of your existing housing loan.

You can borrow up to Rs.10,00,000, depending on the total renovation cost and your repayment capacity. The loan is typically capped at 80% of the renovation estimate.

You’ll need to contribute 20% of the total cost of renovation from your own funds. The remaining 80% can be financed through the loan.

You can repay the loan over a period of up to 10 years, or the remaining duration of your housing loan—whichever is shorter.

Yes. Collateral equal to 100% of the loan amount is required, usually secured as a sub-limit of your existing housing loan or a mortgage on the property being renovated.

Yes. You must provide two guarantors who have regular income and good net worth.

• Renovation cost estimate or contractor quotation
• Identity and address proof
• Income proof (salary slips, ITRs, bank statements)
• Property ownership documents
• Additional documentation may be requested based on your profile.

Greater Bank offers highly competitive rates and flexible eligibility for renovation loans, especially if you're an existing housing loan customer.

A Housing Renovation Loan is the most cost-effective and structured way to finance home improvements. It offers lower interest than unsecured personal loans and tailored repayment options.

Yes, a detailed estimate or contractor quotation is mandatory for assessing the loan amount.

Yes, subject to eligibility and security, you can use this loan for another owned residential property.