Construction Loan Unlock The Funds You Need with Today Finserv

For many, having a house to call their own is a life goal, but finding ways to pay for it can be a hassle. Today Finserv Construction Loan is a perfect financial solution with easy approval, low interest rates, and repayment options. Whether you’re building a new house, remodeling an old one, or working on an unfinished project, a construction loan can help you keep your finances in check.

What is a Construction Loan?

A Construction Loan or Construction short-term loan is a type of home loan or mortgage meant for a home or commercial property, which provides funding in increments as a property is completed. Unlike a Typical Home Loan which provides a lump sum payment, a construction loan is paid as the work progresses.

Features of a Construction Loan

• Payments Made In Portions: Funding is provided as installments or “tranches” depending on construction progress.

• Adaptable Loan Length: Usually between 1 to 5 years and can later be adjusted to a Home Loan.

• Better Than Personal Loans: Construction loan rates are more affordable.

• Today Finserv offers full support: Finserv aids with approvals and documentation.

Benefits of Today Finserv Construction Loan

Construction Loan Customization

Today Finserv ensures smooth construction by offering a loan of up to ₹5 Crores*, based on eligibility.

Construction Progress Payments

Reducing the financial burden, the loan amount provided is given in relation to the construction progress.

Low rates of 8.50% for Construction Loan

Its interest rates are low, making repayment affordable.

Early Settlement of Loan with No Charge

Early loan repayment is allowed without interest saving on overall costs.

Construction Loan with Easy Steps

Quick processing and minimal paperwork ensures construction loan approval in under 72 hours.

Loan to Cover Various Requirements

• New home construction

• Renovation/extension of existing property

• Completion of unfinished projects

Eligibility Requirements For A Construction Loan By Today Finserv

For salaried employees:

• Age: Between 23–60 years

• Minimum monthly salary: ₹25,000

• Minimum work experience: 2 years

For business owners and self-employeds:

• Age: Between 25–65 years

• Minimum ITR: ₹3 Lakhs per annum

• Minimum business age: 3 years

Geographic Restrictions:

• Must be a legal construction project of approved status

• Cleared legal claim on property boundaries and required permits

Documents Needed For A Construction Loan

Identity Proof:

• Aadhaar Card

• PAN Card

• Driving License/Voter ID/Passport

Income Proof:

• For employees: Last 3 months salary slips and Form 16

• For self-employed: 2 years ITR and profit and loss statement

Property Documents:

• Approved construction blueprints and land holding documents

• Construction contract (if applicable)

Also Read - Plot Loan at Low Interest Apply Online with Today Finserv

How to Get a Construction Loan from Today Finserv?

Verify Online Eligibility

Head to Today Finserv’s webpage and complete a short application form.

Upload documents

Provide required documents to be checked.

Loan Approval and Sanction

Receive feedback in 72 hours on approval and receive a loan offer.

Payments released as construction phases progress

Money is released in stages based on the construction work completed which includes the plinth, lintel, and roofing.

Construction Loan Interest Rates and Repayment Options

Interest Rate: Starting from 8.50% p.a.

Loan Tenure: Up to 20 years (after converting to a home loan)

Processing Fees: 0.5% to 2% of the loan amount

Flexible EMI Plans: EMI Plans available

Why Today FinServ For A construction Loan?

• Fast and Paperless: Minimal paperwork/documentation, faster loan approvals and disbursements.

• Zero Hidden Charges: Straightforward Pricing

• Inhouse experts and Loan Managers: For Tailored support to help throughout the loan journey

• Top-Up Loan Facility: Extra money can be added if additional funds are required.

• Loan Transfer Option: Move over existing high-interest loans to Today Finserv.

A Construction Loan from Today Finserv ensures borrowers can secure loan against the property and construction can directly begin on the house which the customer is dreaming to build. The applicant gets to use a low cost construction linked loan and with Today Finserv you can seamlessly manage the loan with flexible repayments and uncomplicated approvals.