Details of Home Loan Top up

1
Housing Finance
2
Details of Home Loan Top up
3

• What is home Loan Top up? Its a personal loan
  given to existing home loan customers at the
  terms of home loan.
• (Lower interest rate and higher Loan tenure) Your
  home loan bank offers top up facility to existing
  customers with good repayment track record.
• Top-up on Housing Finance can be utilized for any
  purposes as of personal loan. It is not
  restrictive like home improvements, interior,
  refurnish home loan add-ons.
• What is covered under Home Loan Top ups ?

4

• One can avail top-up for purposes like kid
  education, vacation, debt repayment, car and
  personal loan pay off, medical emergencies,
  vehicle purchase, home improvements, buying
  commercial property etc.
• Home Loan top-up is flexible for applicants
  needs and different from home furnishing/interior
  loans.
• Eligibility considerations for Top up Loan.
• Interested applicants need to approach their home
  loan bank and ask for more details.
• The top amount on your home loan would be
  difference between the original loan amount and
  current outstanding.

5

• Home Loan Top-ups offer lesser interest rates
  than Personal Loans or Mortgage Loans.
• More Loan amount as home loan top-up(Minimum Loan
  Amount Rs. 3 lacs, Maximum Loan Amount Rs. 5
  crores.
• Top-up offer longer loan tenure than personal
  loans and car loans. The tenure of top-up loan
  can go up to 15-20 years.
• Top-up EMIs will be lighter on pocket than other
  bank loans. Speedy approvals lesser
  documentation as banks have your documents from
  home loan application.
• If you avail top up loan for modifying,
  renovating or acquiring add-on for existing home,
  then you can also claim tax benefits for the
  same.
• Source https//loaneasy.in/home-loan-top-up/

6
Click to know more on Housing Finance https//www
.hdfc.com/
Thank You