Check If You Qualify to Upgrade Your Dream Home
At Rohini Financial Services, applying for a Home Renovation Loan is simple, transparent, and open to a wide range of customers — from salaried professionals to self-employed individuals. Before applying, review the basic eligibility criteria and document requirements to ensure a smooth approval process.
👤 Eligibility Criteria
To qualify for a Home Renovation Loan, applicants must meet the following conditions:
- 1. Age Requirement
- Minimum Age: 21 years
- Maximum Age:
- Salaried applicants: 60 years (at loan maturity)
- Self-employed applicants: 65 years (at loan maturity)
- 2. Employment Type
- Eligible applicants include:
- Salaried employees working in private, public, or government sectors.
- Self-employed professionals such as doctors, architects, and consultants.
- Business owners or entrepreneurs with a consistent income source.
- 3. Income Criteria
- Minimum monthly income of ₹20,000 (for salaried individuals).
- Minimum annual income of ₹3,00,000 (for self-employed individuals).
- Proof of stable and regular income to ensure repayment capability.
- 4. Property Ownership
- The applicant should be the owner or co-owner of the property being renovated.
- The property must be located within approved municipal or urban areas.
- 5. Credit Score
- A minimum CIBIL score of 700 or above is preferred.
- Applicants with slightly lower scores may still be eligible based on income stability and repayment history.
- 6. Employment Stability
- Salaried applicants must have at least 2 years of total work experience and 6 months in the current job.
- Self-employed applicants should have a minimum of 2 years of business continuity.
- 📋 Documents Required
- Prepare the following documents for a faster approval process:
- For Salaried Applicants:
- PAN Card & Aadhaar Card
- Latest salary slips (3 months)
- Form 16 / ITR (last 2 years)
- Bank statements (6 months)
- Proof of residence and property ownership
- For Self-Employed / Business Owners:
- PAN Card & Aadhaar Card
- Business registration certificate / GST certificate
- ITR (last 2 years)
- Bank statements (6 months)
- Property ownership proof