ParrotMoney is India's premier digital home loan marketplace. We allow homebuyers to compare interest rates, check project approvals (APF), and instantly apply for home loans from over 30+ top banks and NBFCs with zero hidden fees.

What is the lowest home loan interest rate right now?

As of October 2026, the lowest home loan interest rates start at 8.35% p.a. for borrowers with excellent credit scores (CIBIL 750+).

Does ParrotMoney charge a fee for comparing home loans?

No, ParrotMoney is completely free for users. You can compare rates, calculate EMIs, and apply for a home loan without paying any platform fees.

What are the best home loan rates in India?

As of October 2026, the best home loan interest rates in India start at 8.35% p.a. for borrowers with a CIBIL score of 750 or above. Rates are primarily linked to the RBI Repo Rate (External Benchmark Lending Rate or EBLR).

Planning structural extension, an extra floor, or home repairs?

Home Renovation & Extension Loans

Indicative rates from available lender data for structural improvements, extra floors, and modern home upgrades.

Primary Action: Check Renovation Loan Options

No phone/PAN upfront · No bureau check without consent · Indicative only · Final approval by lender

Who this is for / not for

Good for: Existing homeowners planning civil extensions, adding rooms/floors, structural repairs, waterproofing, or major remodeling.

Not ideal for: 100% loose furniture, appliances, or pure decor purchases without civil work (often treated as Top-Up by lenders).

Eligible Renovation Use Cases & Lender Rules

Structural extension & room addition within permissible FSI
Adding an extra floor (requires municipal plan approval)
Civil repair, re-flooring, plumbing, electrical & waterproofing
Interiors & furnishing treatment (often capped at 15%–25% or priced as Top-Up)
Architect / civil engineer Bill of Quantities (BoQ) estimate
Section 24(b) tax deduction up to ₹30,000/year on interest

Product-Specific Input Form & Indicative Comparison Preview

Inputs tailored for this loan: Estimated Renovation Cost (BoQ) · Required Loan Amount · Tenure (up to 15Y) · City

Compare available options across 51+ banks and HFCs using available lender data · Availability varies by lender/city.

What lenders check & What happens next

Itemized cost estimate (BoQ) from a registered architect / civil engineer
Ownership proof (registered sale deed & property tax receipt)
Municipal building plan approval (if extending structure or adding a floor)
Income eligibility & CIBIL score

What happens next: 1. First preview requires no phone/PAN · 2. Personal details come later · 3. Bureau check only with consent · 4. Final approval by lender.

Documents needed later

Architect/engineer BoQ estimate, original property deed + tax receipt, approved plan (for structural extension), KYC, and income proofs.

Frequently Asked Questions

How do lenders treat structural renovation vs interior furnishing?: Civil extensions and structural repairs get standard Home Renovation rates (from 8.00% p.a.), while pure loose interiors may be capped or treated as a Top-Up.
Is an architect or civil engineer estimate required?: Yes, banks require an itemized Bill of Quantities (BoQ) from a registered engineer or architect.
Are Home Renovation Loan interest payments eligible for tax deduction?: Yes, up to ₹30,000 per year under Section 24(b) of the Income Tax Act.

Planning structural extension, an extra floor, or home repairs?

Check Renovation Loan Options — No phone/PAN upfront · Indicative comparison only · Final approval by lender.