A top-up loan is an amount Home Loan borrowers can get in addition to their existing loan. You can apply for a Home Loan top-up when falling short on funds.
What is a Top-Up Loan?
6 Benefits of Home Loan Top-Up
Pre-approved Top-Ups
Housing finance companies provide pre-approved top-ups to existing borrowers. Existing borrowers can get a pre-approved Home Loan top-up based on their good repayment history.
#1
Minimal Documentation
Applying for top-up Home Loans requires less documentation.
#2
Easy Disbursement
Top-up Home Loans get disbursed within two days. You don’t have to wait much longer to get your Home Loan top-up amount.
#3
Available in Both Fixed and Flexible Interest Rates
Choose a fixed or a floating rate for your Home Loan top-up. You can choose a suitable interest rate based on your repayment planning.
#4
Zero Processing Fee
No need to pay processing fees when applying for a top-up.
#5
Attractive Rate of Interest
Top-up Home Loans come at an attractive rate of interest, a few points more than your existing Home Loan.