Highlights:
- Benefits of a Top-up Loan
- Eligibility Criteria to Avail of a Top-up Loan
- How to Apply for a Top-up Loan
If you are currently servicing a Home Loan and require additional funds for home renovation, you can opt for a Top-up Loan. You can avail of a Top-up Loan with us and secure sizeable funds at a competitive interest rate by transferring your outstanding Home Loan balance to us through our balance transfer facility.
Benefits of a Top-up Loan
When you avail of a Home Loan Top-up, you stand to benefit from the following:
- Flexible End-Use: Top-up Loans offer flexibility in terms of usage. You can use it to fund various housing-related expenses such as home renovation or expansion.
- Competitive Interest Rates: Borrowers can avail of Top-up Loans at competitive interest rates, making them a feasible option to borrow additional funds.
- Sizeable Loan Amount: With a substantial quantum of funds, you can meet your housing-related expenses with ease.
Eligibility Criteria to Avail of a Top-up Loan
If you have an ongoing Home Loan with us, the eligibility criteria to apply for a Top-up Loan will be similar to a regular Home Loan. However, when opting for a Home Loan Balance Transfer with us, there are a few considerations to keep in mind:
- Ensure you have a consistent repayment record of at least one year if you are transferring your Home Loan to us.
- The existing Home Loan should be completely paid off for at least six months.
You also need to clear overdue EMIs. Ideally, there should not be more than one missed payment in the previous year.
Documents Required for a Top-Up Loan
To apply for a Top-up Loan, you will have to submit the following documents:
- KYC documents: Aadhaar Card, Voter ID Card, Passport, Driving Licence
- Recent passport-sized photographs
- Mandatory documents: PAN Card or Form 60
- Income proof requirements: Latest salary slips and bank account statements (for salaried applicants) and latest Profit & Loss (P&L) statements, ITR, and proof of business vintage (for self-employed applicants)
How to Apply for a Top-up Loan
To apply for a Top-up Loan with Bajaj Housing Finance, follow the steps given below:
- Fill in the basic details such as your name and mobile number and specify your employment type.
- In the ‘Select Loan Type’ field, choose ‘Home Loan Balance Transfer + Top-up Loan’.
- Click on ‘Generate OTP’ and verify your mobile number by entering the OTP.
- Specify the loan amount you wish to avail of and your preferred repayment period.
- Provide your personal, employment, financial, and property-related details.
- Submit the application.
After submission, a representative will contact you within 24 hours* to discuss the next steps.
*Terms and conditions apply.
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