Home Extension Loans of up to ₹10 Crore
Truhome Finance Limited, formerly known as Shriram Housing Finance Limited. For FAQs Click Here.
Up to ₹10 Crore
Up to 25 years
(Subject to your retirement)
Starting from 8.5%
Upto 90% of the property cost
(*subject to regulatory norm)
Up to 1.5% of the Loan Amount
Individual Borrowers - Nil
Make multiple part payments with zero prepayment charges* (only for floating rate)
Get your loan quickly with the simple documentation process.
Need help with your loan application?
We provide a dedicated relationship manager to help solve your issues.
Get tax exemptions as per the IT Act, 1961
Life insurance cover is offered to housing loan borrowers, at affordable premiums against risk of death during the tenure of the loan under group insurance Credit Shield Scheme.
Indian citizen residing in India.
Salaried: Up to the age of 60 years.
Self-Employed: Up to the age of 65 years.
Salaried, Self-Employed
Register using your mobile number.
Select the loan amount and tenure and submit the application.
Our dedicated relationship manager will contact you to process your home extension loan application.
Here is the list of documents required for an Truhome Finance Home Extension Loan:
Mandatory Documents
ID Proof
Address Proof
Income Documents
Mandatory Documents
ID Proof
Address Proof
Income Documents
Here is a detailed guide on home extension loan tax exemption:
| Deductions | Sections | Maximum Deduction (₹) | Terms and Conditions | |
|---|---|---|---|---|
| Principal | 24b | ₹2 Lakh | You must finish building or buying a new house within five years of availing the loan. | |
| Interest | 80C | ₹1.5 Lakh | House property should not be sold before five years of possession. | |
| Interest | 80EE | ₹50,000 | For a home loan amount of up to ₹35 Lakh and for a property value of not more than ₹50 Lakh. | |
| Interest | 80EEA | ₹1.5 Lakh | Home properties with a stamp value up to ₹45 Lakh. | |
| Interest | 80C | ₹1.5 Lakh | Claim to be made in the same financial year the stamp duty was paid. |
Learn how loan amount, interest rate, and tenure affect your monthly payments. Use this tool as a guide to plan better.
Discover how lenders evaluate your eligibility based on income, expenses, and other factors. Get an estimate of the loan amount you may qualify for.
A home extension loan is specifically for expanding or renovating your existing home, while a regular home loan is for buying or constructing a new property.
The loan amount depends on factors like property value and the construction cost (related to home expansion).
Interest rates for the Truhome Finance Home Extension Loan start from 8.5% and may increase depending on the loan amount, credit history and tenure.
With the Truhome Finance Home Extension Loan, the repayment period is highly flexible & can go up to 25 years. For a salaried person, the loan repayment period of up to the retirement age or 60 years whichever earlier and for self-employed individuals, the loan repayment period of up to 65 years of age.
Indian citizens who own the land and have a steady source of income are eligible.
You can use the loan to build new rooms, increase the size of your living space, add levels, or modify existing parts in your house.
Yes, you can avail tax exemption on the interest paid and principle paid for your home extension loan as per the Income Tax Act
The home extension loan amount is usually disbursed in instalments based on the progress of the extension work.
You can check with us if you are eligible for an additional loan amount in case your project costs more than the original loan amount.
Yes, you can prepay the house extension loan before the tenure ends. Truhome Finance does not charge for part or full prepayment of home extension loans with a floating interest rate.
Failure to pay your debts on time may lower your credit score and subject the lender to take legal action. Furthermore, it will lead to bounce charge penalty.
Yes, you can apply for a house extension loan with a co-applicant at Truhome Finance. Co-applicants can be your siblings, spouse, parents and children.
Yes, with Truhome Finance, you are allowed to avail a home extension loan for an apartment.
Truhome Finance typically charges a small processing fee as mentioned in the sanction letter.
Yes, even if you already have a loan, you can apply for a home extension loan with Truhome Finance.
