What are the interest rates for Home Loan Top-up?

Home Loan Top-up starts from as low as 8.25%* and can go up to 10.40%* for salaried and professional applicants.

Can I get tax benefits on Top-up Loans?

Yes, you can claim tax benefits on a Top-up Loan under the old tax regime, depending on the purpose of the loan and the type of property. If you use a Top-up Loan for a self-occupied home, you can claim a deduction of up to Rs.30,000 per year. For a let-out property, there’s no upper cap under Section 24(b). This means the full interest amount may be claimed. When the loan is used to construct or buy a new property, both interest and principal may be claimed under Sections 24(b) and 80C, respectively. However, if the funds are used for renovation, repairs, or alterations, only the interest component qualifies for deduction, not the principal.

Top-Up Loan - Get Additional Funds of up to Rs. 1 Crore*

What is a Home Loan Top-up?

A Top-up Loan is a handy refinancing option for borrowers who already have an ongoing Home Loan and would like to seek additional funding. A Home Loan Top-up can also be facilitated through a Home Loan Balance Transfer, wherein you transfer your Home Loan balance to Bajaj Housing Finance for a more competitive interest rate.

When you opt for a balance transfer, you have the option to avail of a Top-up Loan of Rs.1 Crore* or higher, based on your eligibility – giving you access to a sizeable loan sanction as well as letting you save on your total Home Loan cost.

The Top-up Home Loan sanction comes at a relatively lower interest rate compared to other unsecured loans. Further, it comes with end-use flexibility and can be used to meet any housing-related expenses. If refinancing is your priority, look no further than the Bajaj Housing Finance Top-up Loan.

Features and Benefits of a Top-up Loan

With a Bajaj Housing Finance Top-up Loan, here are the benefits that follow:

Loan Amount of Rs.1 Crore*

Top-up on your ongoing Home Loan with a sanction of Rs.1 Crore*, or even more. The amount will be sanctioned based on your eligibility.

Competitive Interest Rate

Eligible borrowers can get Home Loan Top-up interest rates as low as 8.30%* p.a. for salaried applicants along with other favourable terms.

End-Use Flexibility

As the loan amount comes with end-use flexibility, you can use it to address all housing expenses, such as home renovation.

Ease of Application

The process of applying for a Top-up Loan is hassle-free. Existing Home Loan borrowers or those who wish to transfer their Home Loan balance to us can apply for a Top-up Home Loan through our Customer Portal or Home Loan application form, respectively.

Simple Eligibility Criteria

The eligibility criteria for a Top-up Loan will be similar to that of a Home Loan. This maximises your chances of availing of it.

Quick Processing and Disbursal

A Top-up Loan is offered to borrowers who have already availed of a Home Loan. If a borrower meets the eligibility criteria, they can stand a good chance to get approved for a Top-up Loan.

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Eligibility Criteria for a Top-up Loan

If you have an ongoing Home Loan with us and want to apply for a Top-up Loan, you need to meet the applicable loan eligibility criteria and should have a clear repayment track record on your existing Bajaj Housing Finance loan. In addition to that, your existing loan with Bajaj Housing Finance must be ongoing for at least 12 months to apply for a Top-up Loan.

If you are combining a balance transfer from another financial institution's Home Loan with a Top-up Loan, it is important to have a one-year record of consistent repayment.

It is advisable that you clear any missed EMIs and ensure that there was no more than one missed payment in the previous year.

Please note that these requirements are general and may vary depending on the specific policies of the lender you approach for a Top-up Loan.

Documents Required for a Top-up Loan

To apply for a Top-up Loan with us, you will need to submit the following documents based on your employment type:

Type of Document	Salaried Applicant	Self-Employed Applicant
Mandatory Documents	PAN Card or Form 97 (if the applicant does not have a PAN Card) (Note: PAN Card is mandatory for financial applicants/co applicants)	PAN Card or Form 97 (if the applicant does not have a PAN Card) (Note: PAN Card is mandatory for financial applicants/co applicants)
Proof of Identity	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register containing the name, address, and photograph of the cardholder Proof of possession of Aadhaar Number (to be obtained voluntarily)	Valid Indian Passport Driving License Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register containing the name, address, and photograph of the cardholder Proof of possession of Aadhaar Number (to be obtained voluntarily) Proof of Identity for Non-Individuals Udyam Registration Certificate (URC) issued by the Government Complete Income Tax Returns duly authenticated/acknowledged by the income tax authorities GST Certificate/Registration document issued by Sales/Service/Professional Tax authorities Utility bills such as electricity, water, landline telephone bills, gas, etc. in the name of the entity
Proof of Current Residence	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Proof of possession of Aadhaar Number (to be obtained voluntarily)	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Proof of possession of Aadhaar Number (to be obtained voluntarily) Proof of Current Residence for Non-Individuals Udyam Registration Certificate Business Registration Certificate GST Certificate Gumasta Licence (Shop Act Licence for Maharashtra) Utility bills Income Tax Returns (ITR) Rent Agreement with utility bill not older than 60 days
Date of Birth	Passport PAN Card Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Aadhaar Card (to be obtained voluntarily) Birth Certificate	Passport PAN Card Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Aadhaar Card (to be obtained voluntarily) Birth Certificate
Proof of Income	Last 3 months' salary slips Last 12 months' bank statements (consent to fetch banking from account aggregator) showing salary credits Bonus pay slip along with bank credits Employment Contract/Appointment Letter in case current employment is less than a year old	Consent to fetch the financials from the Income Tax & GST Portal of all the financial applicants Last 12 months' bank statement of primary business accounts & savings accounts (preferably account aggregator)
Property-related Documents	Fresh Property Purchase: Copy of Allotment Letter or Buyer’s Agreement Cost Sheet issued by the developer Receipts of initial payments made to the developer Resale Property Purchase: Title Deeds including previous chain of the property documents Receipt(s) of initial payment(s) made to the seller Copy of Sale Agreement (if already executed)/Draft Sale Deed Self-Construction: Title Deeds including previous chain of the property documents Construction estimate by an architect or civil engineer Copy of Plans, approved by local authorities Proof of no encumbrances on the property	Fresh Property Purchase: Copy of Allotment Letter or Buyer’s Agreement Receipts of initial payments made to the developer Resale Property Purchase: Title Deeds including previous chain of the property documents Receipt(s) of initial payment(s) made to the seller Copy of Sale Agreement (if already executed)/Draft Sale Deed Self-Construction: Title Deeds including previous chain of the property documents Construction estimate by an architect or civil engineer Copy of Plans, approved by local authorities Proof of no encumbrances on the property
Balance Transfer Documents	Index II/Sale Deed/ATS/Allotment Letter (for applicants from Maharashtra) Sale Deed/ATS/Allotment Letter (for applicants outside Maharashtra) TPA (for UC; for applicants outside Maharashtra) Statement of account/RTR of BT loans, Sanction Letter of BT bank	Index II/Sale Deed/ATS/Allotment Letter (for applicants from Maharashtra) Sale Deed/ATS/Allotment Letter (for applicants outside Maharashtra) TPA (for UC; for applicants outside Maharashtra) Statement of account/RTR of BT loans, Sanction Letter of BT bank
Additional Documents	Passport-size photographs of all applicants and co-applicants. Proof of own contribution Bank statements of the last 6 months showing repayment of loans	Additional documents will be required for the entities below: Partnership Firm: Partnership Deed Limited Liability Partnership: LLP Agreement and Certificate of Incorporation, List of designated partners and latest profit-sharing ratio certified by CA/CS Public & Private Limited Co. (Even if only 1 Director): Certificate of Incorporation, Memorandum of Association (MOA), Articles of Association (AOA), and the latest CA/CS-certified list of Directors and Shareholders with name, date of birth, nationality, and address Trust: Trust Deed with the Registration Certificate, list of all beneficiaries, trustees, settlor(s), protector(s), and author(s) of the trust containing name and date of birth Society:Byelaws/Memorandum of a Society with Registration Certificate, list of members with name, address, and date of birth Authorised signatory along with KYC & Relationship Segment details in case of Private/Public Limited Companies/Limited Liability Partnerships/Partnership Firms/Trust/Society List of Directors & Senior Management details in case of Private/Public Limited Companies Legal Entity Identifier (LEI) Certificate of non-individual borrower having banking system exposure of Rs.5 Crore and above Passport-size photographs of all applicants and co-applicants Own contribution proof Bank statements of the last 6 months showing repayment of loans Cheque for processing fee towards the Home Loan provider Additional documents for Self-Employed Professionals: Qualification documents (Degree certificate) from a recognised institution Registration Certificate from the State Medical Council for MBBS or higher education Chartered Accountant (CA) – Certificate of Practice (COP)

Note: We may request additional documents during the application process.

Interest Rates and Charges for a Top-up Loan

With a Home Loan Top-up from us, you can benefit from attractive interest rates as compared to unsecured loans. It lets you address additional housing expenses not covered by your Home Loan with ease.

Eligible applicants who are salaried and professionals can enjoy a sizeable Top-up Loan sanction starting at just 8.30%* p.a. and repay the amount comfortably over the loan tenure.

To know more about our fees and charges for a Top-up Loan, click here.

The Rate of Interest for each loan is determined considering several factors which includes but not limited to, your profile including employment/profession type, age, industry segment and other details, your credit score, overall indebtedness and repayment track record as provided by Credit Information Companies (‘CIC’), cost of borrowed funds by the Company, credit and default risk in the related business segment in which you operate, historical credit performance of similar homogeneous clients, secured or unsecured loan being sought, ticket size/quantum of loan sought, tenure of loan, location delinquency and collection performance, your existing relationship with BHFL and repayment history, your declared and verified income, borrower group financial strength, nature and value of primary collateral security, etc. The above mentioned variables are considered as key underwriting variables for assessment and risk gradation. The aforesaid is dynamic and gets revised periodically as per the existence and performance of the past portfolio, and hence is subject to change.

Step-by-Step Process to Apply for a Top-up Loan

Before you start filling out the online application form, you can use our EMI calculator for Home Loan, to understand your monthly obligations. To apply for a Top-up Loan, follow these simple steps:

Click on the 'Apply Online' button on the top right corner of this page. Alternatively, you can navigate to our housing loan application form.
Provide basic details, such as your name and mobile number and select the type of employment.
In the 'Select Loan Type' field, select 'Home Loan Balance Transfer + Top-up Loan'.
Click on 'Generate OTP' to verify your mobile number and enter it in the required field.
Enter the loan amount you require and choose the ideal repayment period.
Input your personal, employment, financial, and property-related information.
Submit the application.

Once you have submitted the form, you can expect to be contacted by our representative within 24 hours* of submitting your application. They will reach out to you to discuss the next steps and provide further guidance.

*Terms and conditions apply.

Top-up Loan: FAQs

A Home Loan Top-up is a useful refinancing option for those who already have a housing loan. It allows you to borrow a certain amount over and above your existing Home Loan balance. Unlike a regular Home Loan, a top-up comes with flexible end-use. You can use it for housing-related needs such as home renovation, repair, or remodelling.

The interest rates of Top-up Loans are usually lower than unsecured loans, making them better choices for those with an existing Home Loan.

If you have an existing Home Loan with Bajaj Housing Finance, you can avail of a Top-up Loan. You can also avail of it through a Home Loan Balance Transfer, wherein you can transfer your Home Loan balance to Bajaj Housing Finance for a more competitive interest rate.

You will need to provide basic documentation to avail of a Top-up Loan. This includes documents for KYC verification, such as an Aadhaar Card, Voter ID Card, Passport, and Driving Licence, and recent photographs. PAN Card or Form 97 are mandatory documents.

Salaried applicants will need to furnish their latest salary slips and account statements for income proof. Self-employed applicants need to furnish their latest P&L statements, ITR, and proof of business vintage.

Note that these requirements are indicative, and lenders may ask for additional documents.

When you have an existing Home Loan, you can avail Top-up Loan of Rs.1 Crore* or higher by transferring your Home Loan balance to us. However, you need to meet the eligibility criteria to avail of a Top-up Loan.

Top-up Loans come with lesser rates of interest and longer tenures. You can avail of a Top-up Loan from Bajaj Housing Finance to address any housing-related expenses such as home renovation.

Home Loan Top-up starts from as low as 8.30%* and can go up to 10.40%* for salaried and professional applicants.

Yes, you can claim tax benefits on a Top-up Loan under the old tax regime, depending on the purpose of the loan and the type of property. If you use a Top-up Loan for a self-occupied home, you can claim a deduction of up to Rs.30,000 per year. For a let-out property, there’s no upper cap under Section 22. This means the full interest amount may be claimed. When the loan is used to construct or buy a new property, both interest and principal may be claimed under Sections 22 and 123, respectively. However, if the funds are used for renovation, repairs, or alterations, only the interest component qualifies for deduction, not the principal.

A Top-up Loan is an additional amount you can borrow over your existing Home Loan. It is ideal when you need extra funds for purposes such as renovation and repairs. A Home Loan Balance Transfer, on the other hand, allows you to transfer your outstanding loan amount to another lender for a better interest rate or additional funding through a Top-up Loan.