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Everything You Wanted to Know About Top-up Loans _WC

6 min 09 Apr 2024
All About Top-up Loans
Highlights
  • Top-up Loans
  • Features of Top-up Loans
  • Benefits of a Top-up Loan
  • How to Apply

What is a Top-up Loan?

A Top-up Loan is a loan option extended by lenders to existing borrowers who already have a Home Loan or opt to transfer their Home Loan balance. Top-up Loans enable borrowers to access extra funds over their current loan amount. The eligibility for a Top-up Loan Loan generally depends on the borrower's repayment history. These loans often come with competitive interest rates and can be used for additional housing purposes, such as home renovations.

Features of Top-up Loans

Top-up Loans come with several beneficial features such as: 

Competitive Interest Rates

Top-up Loans come with competitive rates of interest. Also, Top-up interest rates are comparatively lower than the rates of unsecured loans.  

High Loan Amount

The maximum Top-up Loan amount availed on a Home Loan can vary as per the lender’s policies and discretion. Generally, one may get funds worth Rs.1 Crore*, or higher, basis eligibility.  

Benefits of Top-up Loans

A top-up on your Home Loan extends the following advantages: 

  • A top-up allows you to meet any housing requirement 

  • It entails minimal documentation   

  • Since you already have an existing housing loan, the application process and eligibility parameters simple and straightforward 

  • Top-up repayments are easier due to low interest rates and flexible tenors. 

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DISCLAIMER:

While care is taken to update the information, products, and services included in or available on our website and related platforms/websites, there may be inadvertent errors or delays in updating the information. The material contained in this website and on associated web pages, is for reference and general information purposes, and the details mentioned in the respective product/service document shall prevail in case of any inconsistency. Users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/service document and applicable terms and conditions. Neither Bajaj Housing Finance Limited nor any of its agents/associates/affiliates shall be liable for any act or omission of the Users relying on the information contained on this website and on associated web pages. In case any inconsistencies are observed, please click on contact information.

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