House Extension Loan at 8.70%: Quick Approval & EMI Options

A growing family often requires additional space to ensure everyone's comfort. With our Home Extension Loans, you have the opportunity to expand your home, adding the extra room needed to meet your family's evolving needs.A loan for house extension is essential when your existing living space no longer meets the needs of your growing family. Whether you require an additional bedroom, a larger kitchen, or a dedicated workspace, this loan provides the financial support to expand your home without draining your savings. It offers a convenient way to enhance your living environment, ensuring your home grows with you. By spreading the cost over manageable EMIs, a House Extension Loan helps you create a comfortable and functional space that accommodates your evolving lifestyle and future plans.

Features & Benefits
EMI Calculator
Documentation
Eligibility
Fees & Charges
Frequently Asked Questions

Loan Tenure

Maximum loan tenure of up to 30 years.

Customised Loans

Tailored loan offerings based on credit.

Quick Sanction

Quick loan sanction.

Flexible Repayment

Repayment options aligned with your repayment budget.

Hassle-free Disbursement

Loans disbursed quickly.

Transparent Process

No hidden charges involved.

Paperless Journey

Entirely digital and fully paperless loan process.

House Extension Loan EMI Calculator

Results generated by the calculator(s) are indicative in nature.

Preferred loan amount

₹

₹20,00,000

₹10,00,00,000

Interest rate (per annum)

8.65%

13%

Loan tenure (months)

36 months

360 months

Estimated EMI

per month

₹ 36,690
Interest payable
₹52,41, 690

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House Extension Loan Eligibility & Documents Required

Eligibility Criteria Required for House Extension Loan

Residency:

Indian resident or NRI

Age:

Salaried: 23 years to 70 years
Self-employed: 25 years to 70 years

Profession:

Salaried / self-employed professionals and non-professionals

Other:

Can be increased by adding co-applicant income or other verifiable income sources

List of Documents required for Home Extension Loan

Age Proof

Aadhaar Card | PAN Card | Passport

Address Proof

Utility bills (not older than 2 months) | Aadhaar Card | Driving License | Passport | Voter ID etc

Photo ID Proof

Income Proof

Income proofs vary for different professionals across salaried, non-salaried and self-employed.

Please find the easy detailed list of required documents here

a) Salaried

i. Salary slips for the last 3 months

ii. Bank statements for 1 year

iii. Latest Form 16

b) Self Employed: Professionals

i. Latest two ITRs (personal and business) with computation of income

ii. Advance tax challans (if available)

iii. Latest two years of P&L accounts and balance sheets (with schedules), certified by a CA(both personal and business)

iv. Bank account statements (current and savings accounts) for the last 1 year

v. Qualification Proof of professionals

c) Self Employed: Non-Professionals

i.Latest 2 years ITRs with computation for individual applicants and co-applicants (if borrower is an individual)

ii. Bank account statements (current and savings accounts) for the last 1 year

iii. Latest 2 years of audited/CA-certified profit & loss accounts and balance sheets of the firm/company (if borrower is a firm/company)

iv. Proof of Business (GST / Shop Establishment/Udayam Aadhar, etc.)

v. MOA & AOA & Certificate of Incorporation

vi. For Partnership Firm-Partnership Deed

Other documents to be provided as required for disbursement of Loan

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FAQs & Support

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What happens if I default on my Home Extension Loan?

If you default on your Home Extension Loan, we possess the right to take legal action, which could result in the foreclosure on your property to recover the outstanding loan amount.

What are the documents required for a Home Extension Loan?

For a Home Extension Loan, you will need to provide age proof, address proof, income proof and property documents.

Can I prepay my Home Extension Loan?

Yes, you can prepay your Home Extension Loan. However, you have to pay prepayment penalties, so checking the terms and conditions before doing so is essential.

Who can avail of a Home Extension Loan?

Anyone who owns a home and meets the lender's Home Extension Loan eligibility criteria can apply for a loan for house extension. This includes being an Indian citizen aged 23 years or older, with a good credit score and sufficient income to repay the loan.

What is a Home Extension Loan?

A Home Extension Loan is specifically designed to help homeowners finance the cost of expanding their existing property. This could include adding a new room, extending the kitchen, or creating additional living space. The loan is typically secured against your property and offers flexible repayment options.

What is the interest rate of a Home Extension Loan?

The Home Extension Loan interest rate with L&T Finance starts from 8.65%* p.a.

How long does it take to pay off a Home Extension Loan?

The duration to pay off a Home Extension Loan can range to 30 years, depending on your chosen loan tenure.

How much money can I borrow with a Home Extension Loan?

The amount you can borrow with a House Extension Loan depends on your income, existing debts, property value, and the lender’s policies. Using a Home Extension Loan calculator is advisable to get an estimate based on your financial profile.

What security will I have to provide for a Home Extension Loan?

The security for a House Extension Loan is usually the property being extended.

How long does it take to process a Home Extension Loan application?

The processing time for a house extension finance application is quick with L&T Finance.

Explore all FAQs

Housing Loan

Choosing L&T Finance for our home loan was seamless. The team was supportive, with transparent documentation, quick responses, and competitive rates. Their efficient process made our home-buying journey smooth, and the L&T Emerald’s location, amenities, and security make it the perfect choice for our family.

Amit Chaturvedi

Mumbai, Maharashtra

Housing Loan

Buying a home in Mumbai was always a dream of mine, and L&T Finance has made this dream come true. They offered competitive interest rate, quick approval with easy documentation. I would highly recommend L&T Finance to anyone looking for a reliable home loan provider.

Yadika Hussain

Mumbai

Housing Loan

L&T Finance made my homeownership and business growth easier! After taking a home loan with another bank, I needed additional funds to expand my business. L&T offered a quick response, pre-approval, & a streamlined process with minimal paperwork. Plus, I received lower interest rate & maximum funding!

Amol Hirawadekar

Mumbai

Housing Loan

The process of applying L&T Finance Housing loans was a very easy and seamless process. And the credit goes to L&T Finance's entire Housing loan team. They have been extremely helpful & quick response. A very transparent process, the best of the market rates and quick disbursement.

Amit Chaturvedi

Powai, Mumbai

Housing Loan

I was looking to buy a property and L&T finance Housing Loans stepped in forward to cater to all my demands, the ease of the documentation processes and their commitment to provide disbursement at the earliest. Whatever I asked, the team was there support at every step to get me through.

Mr. Sharad Pandey

Captain, Merchant Navy