Loan for Construction- Quick Finance for Your Building Project
Exclusive Loan Offers for Construction
Minimal Documentation Required
Use for New Builds, Renovations & Extensions
Why Choose Us for a Loan for Construction?
We team up with top banks and NBFCs to bring you fast, flexible, and tailored loan for construction.
Exclusive Loan Offers with Our Lender Partners
We’ve partnered with leading lenders, These loans can cover up to 100% of your construction cost or 90% of the market value for under-construction properties.
We know construction timelines are tight. Our partner lenders process applications quickly, with approvals often within 24–48 hours, so you get funds fast and can start work on time.
Minimal Documentation for Seamless Application
No heavy paperwork here. You just need identity proof, address proof, income proof, and property documents. Salaried applicants can submit salary slips or bank statements, while self‑employed borrowers can provide audited financials or bank statements.
High Loan Amounts Based on Your Project Value
From ₹30 Lakhs to ₹75 Lakhs and beyond, our lenders offer loan amounts that match your construction budget. You can finance small extensions or large new builds, with no upper cap on eligible loan size.
Flexible Tenures & Interest Concessions
Choose repayment tenures up to 30 years for easy EMIs Plus. Many lenders offer interest concessions for women borrowers, helping you save more over the loan term.
100% Transparent – No Hidden Fees
At Kreditbazar, what you see is what you get. We don’t surprise you with extra charges or tricky terms. You get full clarity on interest rates, fees, and EMIs before you sign up.
Are There Any Fees Involved in a Loan for Construction?
Yes, there is a small processing fee and applicable interest, both mentioned before you apply. Some lenders also provide no-cost EMI options for select projects.
| Fee Type | Amount |
|---|---|
| Rate Of Interest | Starting from 16% p.a. on a reduced balance basis |
| Processing Fee | Starting from 2% of the loan amount plus GST |
| Tenure | 3 to 36 months |
| APR | Starting from 18% |
| Bounce Charge | ₹500 plus GST |
| Late Payment Charges | ₹500 plus GST or 3% of the total loan amount, whichever is higher as per the overdue amount |
| Stamp Duty | 0.1% of the loan amount |
| Mandate Rejection Charges | ₹250 plus GST |
| Pre-Clouser Charges | Nil |
Know Loan Criteria, Apply Confidently!
Quick and Simple Requirements to Avail a Personal Loan through Kreditbazar
NBFC Loan Criteria for Salaried
Eligibility Criteria -
Age Range: 21 to 55 years
Monthly Income: ₹15,000 & above (Reflected in bank statement)
Job Duration: Min. 1 year
Nationality: Indian
Documents Required -
Identity Proof : Passport / Aadhaar card / PAN card / Driver's license
Selfie : A clear picture of yours with proper lighting
Address Proof : Passport / Rent agreement / Utility bills / Voter’s ID
Proof of Income : Bank statements / Salary slips (3 months) / Form 16
NBFC Loan Criteria for Self-Employed
Eligibility Criteria -
Age Range: 21 to 55 years
Monthly Income: ₹15,000 & above (Reflected in bank statement)
Business Duration: Min. 1 year
Nationality: Indian
Documents Required -
Identity Proof : Passport / Aadhaar card / PAN card / Driver's license
Selfie : A clear picture of yours with proper lighting
Address Proof : Passport / Rent agreement / Utility bills / Voter’s ID
Proof of Income : Bank statements / Minimum 3 Year IT Return
Choose a Loan As Per Your Needs
Looking for the right plan? Find the best Loan option based on your budget and needs. Apply easily using an Aadhaar Card and pay in flexible EMIs.
Travel
Education
Emergency
Shopping
Wedding
Low Salary
Maternity
Gifting
Home Renovation
FAQs about a Loan for Construction
Find answers to all your questions on eligibility, interest rates, documents, disbursal timelines, and more to plan your construction project with confidence.
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What is a loan for construction?
A loan for construction is a type of loan that helps you build a house on your own plot of land. Unlike home loans for ready-to-move properties, this loan is specially made for people who want to construct their dream home from scratch.
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Who can apply for a construction loan?
Any salaried, self-employed individual or business owner who owns a plot of land and has a regular income can apply for a construction loan. The land must be legally approved and registered in your name.
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Is the land cost included in the loan for construction?
Generally, construction loans cover only the cost of building the house. However, some lenders may include land cost if you recently purchased the plot or are buying the plot and building together under a composite loan.
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How is the loan disbursed?
The loan amount is not given in one go. It is disbursed in stages based on the progress of the construction work. Lenders release funds after verifying the construction stage through site visits.
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What is the interest rate for a construction loan?
Interest rates on construction loans may be slightly higher than regular home loans. They can be either floating or fixed, depending on the lender. It's best to compare rates before applying.
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How much loan amount can I get for construction?
The loan amount depends on the estimated construction cost, your income, repayment ability, and the property’s value. Most lenders fund up to 75-90% of the total construction cost.
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What documents are required to apply?
You’ll need KYC documents, proof of income (salary slips/ITR), land ownership documents, an approved building plan, a cost estimate from a civil engineer or architect, and sometimes bank statements.
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What is the maximum loan tenure?
Loan tenure for construction loans usually ranges between 10 to 30 years. You can choose a tenure based on your monthly income and a comfortable EMI amount.
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Can I get a loan for construction on an ancestral property?
Yes, but you must have a clear legal title and ownership proof. If the property is jointly owned, you may need a No Objection Certificate (NOC) or apply with co-owners as co-applicants.
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Is a construction loan eligible for tax benefits?
Yes, you can claim tax benefits on the interest paid under Section 24(b) and on the principal repayment under Section 80c of the Income Tax Act, once construction is complete.
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What if the construction gets delayed?
If construction is delayed beyond the agreed timeline, you must inform the lender. Some lenders may allow an extension, but delays can affect disbursals or lead to extra charges.
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Can I take a joint loan for construction?
Yes, you can take a joint construction loan with a family member, like a spouse or parent, to increase your loan eligibility and share the repayment burden.
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What happens if I need more money during construction?
f the construction cost increases, you may apply for a top-up loan or restructure the existing loan, subject to the lender’s approval and your repayment capacity.
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Can I apply for a construction loan online?
Yes, many banks and NBFCs allow online applications for construction loans. Platforms like Kreditbazar also help you compare offers from multiple lenders and apply easily from home.
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Is it necessary to have an approved building plan?
Yes, lenders will only approve the loan if your construction plan is approved by the local municipal authority. This ensures that the property is legally constructed.
