A home is a reflection of its owner. Now you can enhance your home and make renovating your home as memorable and enjoyable as home buying. Keep it looking as good as new at all times with our home improvement loan.

Loan Amount

Muthoot Housing offers loans for repair and renovation for refurbishing your home for amounts varying from Rs 2 lakh to Rs 50 lakh.

Loan To Value (LTV)

Get up to 80% of the value of the home you want to renovate or refurbish.


The flexible tenure options for our home improvement loans are up to 20 years.


The property is mortgaged until you repay the loan amount in full.

Installment Calculator

Use our free and easy to use installment calculator to calculate your home loan installments.


You can take a loan to repair or renovate an already owned home or flat. You can use the loan amount for painting, tiling, flooring, water-proofing, roofing, plumbing and electrical work.


Indian citizens, both salaried or self-employed, can apply for our home loans for renovation


To get a loan for house repair, your age should be at least 21 years at the time of applying and 65 years at the end of the loan tenure.

Location of Property

The property you wish to renovate or repair should be within the geo-limit of an MHFL branch office.


You should have a bank account. All owners of the property being financed and all individuals whose income has been considered for the loan have to be co-applicants to the loan.

Submit Documents

When applying for a loan for house renovation, you are required to submit Government approved address and identity proof documents. Bank/ITR statements and ownership documents (if applicable) are also required.

Apply for a Loan

Sign up for a home improvement loan with a co-applicant. Our customer care executives help you fill the loan application form and complete the process.

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Frequently Asked Questions

If you want to refurbish a residential or commercial property, you can get a line of credit which is known as Home improvement loans. You can use the loan for home renovation for repairs, flooring, roofing, extensions, painting woodwork, plumbing, plastering, or makeover jobs. The value of your property and repayment capacity will determine the loan value.
The workings of a home improvement loan are similar to that of any other home loan. However, you are using the loan amount to improve or repair a house or office you are using, instead of buying a new property. You also have to follow the same procedures with us, from filling out the application form, ensuring you are meeting the eligibility criteria, and providing the requested documents. Even the loan repayment follows a similar pattern wherein easy installments over the tenure repay both the principal and interest amount. Contact our customer care executive at 1800 102 1616 or walk into your nearest Muthoot Housing branch to understand how a home improvement loan works.
We offer variable tenures for home improvement loans, which are directly dependent on the amount you want to borrow and your repayment capacity. At Muthoot Housing, we offer a maximum tenure of 20 years, and the minimum of 3 years. Always get an estimate for the home renovation job from the vendors before applying for a loan for home renovations to know the amount you need.
Yes, home improvement loans are tax deductible under Section 24 of the Income Tax Act. The Act provisions tax relief for purchase and construction of a house along with repair and renovation. Please call our customer care executive at 1800 102 1616 or walk into your nearest Muthoot Fincorp branch to understand the deductibles and rebates applicable to you.
Since costs of renovation can vary as per requirement we offer loan amounts varying from 2-40 lakh. You can take our home improvement loans at affordable interest rates to meet all your repair and renovation needs. Additionally, we do not charge any penalty or pre-payment fee. Please contact our customer care executive at 1800-102-1616 for your loan eligibility.
Muthoot Housing aims to make home improvement loans accessible to all. That’s why our eligibility criteria are simple. When taking a loan for home renovation, here are the criteria you are expected to fulfil:
  • Minimum Age at the time of application - 21 years
  • Maximum age at the time of loan maturity - 65 years
  • Citizenship - Indian
  • Status - Salaried or Self Employed
You need to have a bank account to avail the loan

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