Loan Balance Transfer
Loan Balance Transfer
If you want to add more space to your existing home for the future needs of your family, we have the solution for you.
We provide home loans for extending your home. Extension to your home can be in the form of an additional bedroom, a reading room, a study room or anything that’s in your mind. Over the years as you create your own space in life, your family and its needs also grow. A growing family requires an extended house to comfortably accommodate all its requirements. With our Home Extension Loans you can now add more space to your home ensuring that all your family needs have an extra room for expression.
Some of the primary advantages of home loans are low processing fees, provisional approval, 1 to 25-year terms, and adjustable EMIs. We finance properties in the district as well as in panchayats nearby to the city.
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Details about Loan Balance Transfer
Frequently AskedQuestions
It is a loan to extend or add living space to your home such as additional rooms and floors etc.
Any person who wishes to add space to their existing Apartment/Floor/Row house can avail a Home Extension Loan from Bank. Existing home loan customers can also avail a Home Extension Loan.
You can avail a Home Extension Loan for a maximum term of 20 years or till your age of retirement ,whichever is lower.
Interest rates applicable on home extension loans do not differ from the interest rates of home loans.
Yes. You are eligible for tax benefits on the principal and interest components of your home extension loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.
Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us.
HDFC Bank will disburse your Home Extension Loan in installments based on the progress of construction/renovation as assessed by Bank.
You can find a checklist regarding documents required and applicable fees
