Home Extension Loan

Loan For Home Purchase
  • Using SMHFC's Home Extension Loan, a customer can make structural changes to their existing property for an additional living space.
  • Whether it is an extra bedroom or extending the terrace, customers can easily use the loan for adding more value to their property.
  • The maximum loan amount is Rs. 35 lakh for a period of 20 years.
  • Eligibility & Documentation

    We at SMHFC understand that every customer has varied needs, sources of income and documentation availability. We provide tailor-made solutions based on customer requirements. The final eligibility of a customer is decided on a number of factors including, but not restricted to income stability, repayment capacity, past credit record and positive verification

  • Rate & Charges
    Loan Terms
    Loan Amount Minimum Rs. 1 lakh & maximum Rs. 35 lakh.
    Tenure Maximum 20 years.
    Interest Rate 11% onwards
    Processing Fee 2% - 3% (+GST) of the loan amount
    Prepayment Charges NIL
    Loan to Value Maximum 85%
    Security Equitable mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary.
    Repayment Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs)
    MITC SMHFC will adhere to the Most Important Terms and Conditions ("MITC") on all loans as prescribed by the National Housing Bank.
    Other Conditions SMHFC will facilitate customers to take a mortgage redemption policy through SMHFCs tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure.
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Rate / terms could be subject to change at management's discretion

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