Loan For Home Extension
Dreaming of Extending your abode to make it look more elegant or to provide more space? OCHFL is here to do exactly that for individuals like you. We bring you exclusive Home Extension Loans to extend your existing home by:
- Adding a bedroom
- Enclosing open balcony
- Building an extra room on the terrace etc.
Amount of loan
You can avail a Home Extension Loan of up to Rs. 20,00,000-/ but not exceeding the 50% of the documented cost of property and not exceeding 80% of the cost of extension.The actual loan amount is determined taking into account factors like:
- Repayment capacity
- Age
- Educational qualifications
- Stability and continuity of income
- Number of dependents
- Co-applicant's income
- Assets
- Liabilities
- Saving habits etc.
Loan tenure & EMI
The tenure of your Home Loan ranges from 1 to 10 years. The term however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self-employed individuals.
The size of EMI depends on:
- Quantum of loan
- Interest rate applicable
- Loan tenure
Special payment schemes:
- One can enjoy the exclusive 'Regressive Payment Scheme' if one is a home loan seeker due for retirement within the term of the loan and have applied jointly with an eligible One Younger co-applicant.
- One can prepay the loan, ahead of the contracted schedule in part or full, subject to payment of nominal fees / charges as stipulated by OCHFL from time to time.
Our existing Retail Prime Lending Rate (RPLR) - 18%. Applicable ROI: RPLR-4% i.e. 14 %
Check your eligibility criteria and EMI using the links below.
