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Home Renovation Loan
Home Extension Loan

Home Extension Loan

Extra Comfort at Affordable Interest Rates

A home extension loan is a popular choice among many home owners these days, especially after the recent pandemic has reshaped the way people work, study, shop, and basically – spend more time at home.

As we go through our life journey we build our dreams and we work towards fulfilling them. Having a beautiful home is certainly one of the most important dreams we all share. As time passes, you may want a bigger house. Rather than purchasing a new house, you may wish to add new floors or rooms. Apply for a home extension loan today and extend your house right away.

Apply Now

Features

Quick disbursal of funds

The entire loan application process is smooth and seamless. Post verification of your documents and loan approval, the disbursal process is initiated within 72 hours.

Affordable home loans

We offer attractive interest rates on home extension loans. You can use the home loan calculator to determine your EMI.

Lower EMIs

You can extend the tenure of your home extension loan and enjoy lower EMIs

Multiple repayment options

You can pay your EMIs through post-dated cheques or by availing the ECS (Electronic clearing service) facility. You can even pay your EMI online through our website from the comfort of your home or your office.

Tax benefits

You can also receive tax benefits on the principal and interest components of your home extension loan

Benefits of Grihashakti home extension loan:

Apply online :

You can apply for a home extension loan online from the comfort of your home or office by clicking the “Apply now” button here. You have to enter the details like loan amount, location, bank account details, etc. Thereafter, you need to upload all the documents on the site. Next, our representatives will get in touch with you to take the process ahead.

If your application gets accepted, you will receive a tracking ID, through which you can even track the status of your loan online.

Various types of home extensions are covered

You can avail of a home extension loan from us to either build new floors or new rooms. We cover multiple forms of home extension loans

Documents required for home extension loan

Here are the documents you may need to provide.

Type of document Salaried Self-employed
Proof of Identity
  • PAN Card
  • Voters ID
  • Driving License
  • Employee Card
  • PAN Card
  • Voters ID
  • Driving License
Proof of Income
  • Last 3 months’ salary slips
  • 2 years’ Form 16
  • 6 months’ bank statement with salary credits
  • Last 2 years’ ITR with computation
  • CA audited Financial wherever applicable
  • 6 months primary bank statement
Proof of Residence
  • Aadhaar Card*
  • Latest Electricity bill/piped gas monthly bill
  • Ration Card
  • Property Tax/Water Bill
  • Aadhaar Card*
  • Latest Electricity bill/piped gas monthly bill
  • Ration Card
  • Property Tax/Water Bill

Documents pertaining to the architect’s plan will also be requested.

*Terms and conditions apply. Please note that Aadhaar card copy will need to be masked as per regulatory requirements. Depending on the applicant’s profile & requirement as well as Fullerton Grihashakti’s policy at the time of loan application, additional documentation may be requested.

Home extension loan eligibility criteria:

Depending on whether you are salaried or self-employed, there are different eligibility criteria to apply for a home extension loan. We have listed down the types of organisations which a salaried or self-employed applicant can be a part of to apply for a home extension loan.

Salaried Self-employed
MNCs/Listed Public Ltd. Cos/Govt. Individual businessmen/sole proprietorship
Pvt. Ltd. Organisations/unlisted or closely held companies/partnerships/proprietorship firms Professionals – doctors/architects/CAs/consultants, etc.
  Partnership Firms
  Pvt. Ltd. Organisations/unlisted or closely held companies

Please note that the other factors like monthly income, location, credit score, etc. and Grihashakti's policy at the time of loan application will also be considered while determining an applicant's eligibility.

FAQ'S

What is a home extension loan and how does it work?

A home extension loan is taken to extend or increase the living space of your house. You can build additional floors or rooms by availing the home extension loan

How do I apply for a home extension loan?

You can call on the toll free number given at the top of this page or fill up the form that will appear once you click on the ‘apply now’ button on this page. Alternatively, you can also walk into one of our branches.

What is the maximum home extension loan that I can obtain?

Generally, you can expect to receive 90% of the amount required to extend your home. However, the maximum loan amount will depend on various factors including the applicant’s income, credit score, existing loans, etc. as well as Fullerton Grihashakti’s policy at the time of application.

How do I repay a home extension loan?

You can repay your home extension loan through electronic clearing service (ECS) which will debit the EMI directly from your account or pay by PDCs (post-dated cheques). Alternatively, you can also repay the EMI online through our website from the comfort of your home or office.

Which factors affect your home extension loan eligibility?

The home extension loan eligibility depends on multiple factors such as your age, income, tenure of loan, credit history, repayment capacity etc.

How to get a home extension loan with ease?

Well, it is quite easy. Just get in touch with us and enjoy a seamless loan application and disbursal process. But you may want to keep the following points in mind before applying

  • Apply for your credit report and check for errors. Get the errors rectified.
  • Check whether you fulfill the eligibility criteria
  • Depending on your eligibility, you can receive upto 90% of the home extension loan amount. The remaining amount will have to be provided upfront by the applicant. Applicants who require additional funding to fulfil this need can also apply for a personal loan.
  • You can use the home extension loan calculator to estimate your EMIs for your desired home extension loan amount. If the EMI amount, along with your other monthly obligations doesn’t exceed 30%-40% of your monthly salary, you should be able to receive the home extension loan.
  • Ensure that the paperwork of your property is in order.
How long does it take to get a home extension loan sanctioned?

The entire process may take three to four weeks, since the property will also need to be verified. However, after verification checks are successfully completed, and your loan gets approved, the disbursal process gets initiated within 72 hours.

What are the types of home extension loans available?

We offer home extension loans for a variety of purposes. It is recommended to get in touch with us to know more.

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Happy Owners

Happy Homes
Mr. & Mrs. Vijaya Bhaskar Besta, Secunderabad
Pujan N. Maniar Family, Ahmedabad
Mr. & Mrs. Chandrashekhar Shashtrimath, Karnataka
Rupam Das Family, Kolkata
Mr. & Mrs. Kaithepalli Harishkumar, Vishakhapatnam
Mr. R Sarvanakumar, Chennai
N. Durga family, Chennai
P. Vasanthakumari family, Chennai
Mr. &Mrs. Rakoti Simhachala, Vishakhapatnam
Mr.Hemant Chandramani, Rajkot
Y. Sai Kumari Family, Vishakhapatnam

“Owning a home brings in a sense of satisfaction and pride. The representative from Grihashakti has delivered good service and made our walkthrough in loan process easy. My favourite part in the entire home is the living room, which I have decorated well with special care.”

Mr. & Mrs. Vijaya Bhaskar Besta, Secunderabad

“Nothing compares to the happiness, which you get on moving to a home of your own. We are thankful to Grihashakti for helping us to achieve this happiness – they delivered excellent services in all aspects. Ever since we have moved to our home, our business has been booming!”

Pujan N. Maniar Family, Ahmedabad

“We are really happy to shift to our own place. Thanks to Grihashakti team, who helped us with their good service. The new home is very lucky for us because after we shifted here, I started my own business.”

Mr. & Mrs. Chandrashekhar Shashtrimath, Karnataka

“Having a house of your own gives you a sense of security and fulfilment. Kudos to the Grihashakti team – they are very prompt in their services! Our home is very special to us as we bond together as a family and also spend quality time with friends.”

Rupam Das Family, Kolkata

“We were looking for a home of happiness and peace. Thanks to the Grihashakti team, who helped us to realise this dream of ours. Our home has been very lucky for us – ever since we have shifted to our new home, prosperity followed!”

Mr. & Mrs. Kaithepalli Harishkumar, Vishakhapatnam

“I was very excited when I moved to my first home. Along with purchase of my new home, I also needed some funds to renovate my home. Grihashakti has been very cooperative and made my loan process very smooth. I love the balcony of my house, where I see birds chirping every morning."

Mr. R Sarvanakumar, Chennai

“Our new house is very special to me as it was the first house after our daughter was born. With Grihashakti we completed the loan process very smoothly. I love the hall of my house, where I can watch my daughter play.”

N. Durga family, Chennai

“The best part of our new home is its locality! Situated near a children’s park, now our children get to play during evenings. Service from Grihashakti has been wonderful with speedy and hassle-free loan process.”

P. Vasanthakumari family, Chennai

“Having a home is a special feeling and we experienced this when we moved from our rented accommodation to our own home. We feel fortunate to come across Grihashakti, who made the entire loan journey so simple and fast. My favourite place in the home is the living room, where I can relax with my wife after a day’s work."

Mr. &Mrs. Rakoti Simhachala, Vishakhapatnam

“It was a great feeling to own my first home. I am thankful to Grihashakti for their assistance throughout the loan process. Now my home being closer to my workplace, I can spend a quality time with my family”

Mr.Hemant Chandramani, Rajkot

“Staying in a home of your own has its own comforts. And if it is your first home, the feeling becomes more special. Thanks to Grihashakti as they helped us to realise our dream. The entire home is very special to us as we build sweet memories every day.”

Y. Sai Kumari Family, Vishakhapatnam

“A home of your own makes you feel independent. My mother was so happy when I shifted her to my own home. Grihashakti has been really helpful in making the entire loan process smooth and hassle-free. The favourite place at my home is the living room where I can spend quality time with my mother.”

Ms.Reema Chandiramani, Bhopal

Our home being the first home of our own is very special to me. It has also been a symbol of security for us. Grihashakti has been really quick in their processes and helped us through the entire loan process. Every corner of our home reflects a part of us – happiness and peace!"

Mr. & Mrs. Dinesh Sharman, Bhopal

I really feel proud to own my first home. I am thankful to Grihashakti, as the employees were so cooperative that I didn’t have to visit the branch repeatedly. My favourite in the home is balcony, from where I can see the vast sky."

Ms.Anju Saini, Kishangarh

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