This unique retail loan products offers a customer, a loan by mortgaging an existing house. A person can take a loan for his personal needs which can be for purchase of furniture, trade and business requirement, higher education etc. by mortgaging his home. A person can also take a top up loans, on an existing home loans; while paying for the loans, bank can grant a customer, a top up loans to meet his other needs, this in turn depends on his repaying capacity.


Maximum Loan offered by Banks for Top up Loans:
The maximum amount of loan offered by banks generally does not exceed 70% of the market value of the property. A number of factors are also kept in mind while granting top up loans. They are:

Amount of loan outstanding
Current market value of the property
Repayment Capacity


Interest Charged by Bank on Top up Loans:
The rate of interest charged is same as the prevailing home loans rates.


Process Of Top up Loans Application:
Customers can contact the bank representative and apply for a top up loans. They can also fill online forms. A minimal processing fee is charged by banks, which may also be waived off in case of existing customers, or those who have an excellent repayment record.