JoyHome LoanConstruction Loan

Home Construction Loan

build your piece of heaven

Get expert assistance for building a lovely adobe

  • Loan up to 90% of construction cost
  • Low interest rate starting 7.20%
  • Loan at all locations (with sale deed)
  • Up to 4 tax benefits, 2.67 Lakh PMAY
  • No bills require, construction link payment
  • Solution on all properties, incomes
  • Served 100s of customers like you

Quick and easy construction loan services: Our customers says so…

Our loan expert helps you build a lovely adobe on earth.

Institutions We Deal With…

We connect you with the right lender for your needs.

Home Construction Loan Locations, and 2022 Interest Rates

Property Type / Location With Approve MapWithout Approve Map
Approved Location7.10%8.25%
Extended Lal Dora8.25%8.40%
Lal Dora / Gram Panchayat8.25%8.40%
Unauthorized Colony-8.25%
Fard / Jamabandi / Khatoni to Family Deed8.40%8.40%
Fard / Jamabandi / Khatoni to Sale Deed (Purchase)-11.00%

Home construction loan is available for construction up to third floor. You can also build a stilt floor for vehicle parking. Planning to buy a plot?

Take a plot and construction loan for greater benefits.

Best Bank for Construction Loan

Axis Bank, HDFC Ltd, and SBI construction loans are quite popular because of low-interest rates. For challenging cases, we help you get affordable rates from leading financial institutions.

Bank's NameLowest Rate Offer
Deutsche Bank7.10%
Axis Bank7.60%
HDFC Home Loan8.10%
ICICI Bank8.10%
IDFC First Bank7.95%
Kotak Mahindra Bank7.99%
LIC Housing Finance7.50% (freedom plan)
PNB Housing Finance7.50%

Construction Loan Fees and Charges

  • Processing fee ₹5000/- to 1.5% plus tax
  • Legal and technical / valuation up to ₹5000/-
  • For “non-standard” cases, Joy Loan’s coordination charges

For non-standard legal, income, or cases with property-related issues, we charge a small fee. This fee is a fraction of the amount you will spend with our competitors. Plus, you pay it only after the sanction of the loan.

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FAQ Home Construction Loan

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Yes. Financial institutions need a "title document" for mortgages. You can easily create it by transfer/gift deed from Khatoni, Fard, Intikal records. However, we suggest you consult us before making these documents.

Our loan expert will call you to understand your need and profile. Based on your property and profile, we will share your document's checklist (by email or WhatsApp).

After you prepare the documents, we will fill the application form and apply for the loan.

After sanction of loan, you start construction with your share of 10% to 20% of the cost.

After that, bank disburses the construction loan in 3 to 6 installments. Installment numbers depend on the loan amount and number of floors you plan to build. They disburse subsequent installments basis of construction progress.

If you have approved map for constructing a basement, you can get a loan for it. Otherwise, banks do not finance it. In that case, the bank will finance construction costs basis of the remaining portion (excluding basement).

Your EMI starts after disbursement of the last installment. Prior to this, banks charge only interest on the partially disbursed loan. This interest recovery is called Pre-EMI.

Check EMI on Construction Loan EMI Calculator

Loan EMI Calculator


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Period Payment Interest Balance

Calculator Disclaimer

The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. This calculation does not constitute a quote, loan approval, agreement or advice by Joy Loan. It does not take into account your personal or financial circumstances.

Club incomes of spouse and family members for higher eligibility.

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