Top Up Loan

Term Plan Comparison

Under this scheme, a customer can apply for an additional loan on an existing loan with the same bank or can ask for that extra amount along with a balance transfer.

This is usually extended as a personal loan against the mortgage of the property.

Top-up loans beyond a certain percentage are extended at a higher rate of interest than a normal home loan.

The LTV on top up loans is lower than that of normal home loan and is usually restricted to 60-70% of the market value of the property