HDFC Top Up Loan

Updated: 17-01-2023 11:06:50 AM

HDFC Top Up Loan Highlights
Interest Rates	8.80% – 9.50% p.a.
Tenure	Up to 15 years
Loan Amount	Up to Rs 50 lakh
Processing Fees	For Salaried and Self-Employed Professionals: Rs 3,000 or up to 0.50% of loan amount (whichever is higher)For Self-Employed Non-Professionals: Rs 4,500 or up to 1.50% of loan amount (whichever is higher)

Note: Rates as of 21st December 2022

Table of Contents

Interest Rates
Fees & Charges
Loan Amount
Loan Tenure
Eligibility Criteria
Documents Required

HDFC Top Up Loan Interest Rates

HDFC Home Loan Interest rates for Top Up Loan ranges between 8.80% and 9.50% p.a. The detailed breakup of the interest rates for HDFC Top Up Loan are given below:

Standard Top Up Loan Rates

Particulars	Interest Rate (% p.a.)
Top Up Loan for Existing Customers	9.35 – 9.50

Loan Slab (Simultaneous Loans)

Particulars	Interest Rate (% p.a.)
For all loan amounts	8.80 – 9.05

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HDFC Top Up Loan Amount

Some of the main conditions related to the HDFC Top Up Loan amount are as follows:

The maximum top up loan that a borrower can avail of is Rs 50 lakh or the originally sanctioned loan amount (of all their home loans), whichever is lower.
The top up loan component along with the cumulative outstanding loans should not exceed the overall cap of 80% of the market value of mortgaged property (for cumulative exposure of up to Rs 75 lakh) and 75% of the market value of mortgaged property (for cumulative exposure of more than Rs 75 lakh).

HDFC Top Up Loan Tenure

The maximum tenure for the top up loan is 15 years.
The loan tenure for HDFC Home Loan Top Up is dependent on factors like borrower’s profile, age of borrower (at loan maturity), age of property (at loan maturity), repayment scheme and any other terms applicable based on the HDFC rules and regulations.

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Fees and Charges for HDFC Home Loan Top Up

The processing fees and other charges for availing HDFC Top Up Home Loans are as follows:

Processing Fees and Other Charges

Particulars	Rates
Processing Fees	For Salaried and Self-Employed Professionals: Rs 3,000 or up to 0.50% of loan amount (whichever is higher), plus the applicable taxes. Minimum Retention Amount is 50% of the applicable fees or Rs 3,000 plus applicable taxes (whichever is higher). For Self-Employed Non-Professionals: Rs 4,500 or up to 1.50% of loan amount (whichever is higher), plus the applicable taxes. Minimum Retention Amount is 50% of the applicable fees or Rs 4,500 plus applicable taxes (whichever is higher).
Charges for delayed payments (of interest or EMI)	Additional interest up to 24% p.a.
Cheque dishonour charges	Rs 300
List of documents	Up to Rs 500
Photocopy of documents	Up to Rs 500
Post dated cheque swaps	Up to Rs 500
Disbursement cheque cancellation charges post disbursement	Up to Rs 500
Re-appraisal of loans after 6 months from sanction	Up to Rs 2,000 (plus the applicable taxes)
Reversal of the provisional prepayment under the HDFC Maxvantage Scheme	Rs 250 (plus statutory levies/applicable taxes) at the time of reversal

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Prepayment Charges

Particulars	Rates
Combination Rate Home Loan (TruFixed) and Adjustable Rate Loans (Floating) during applicability period of variable interest rate	No prepayment charges (for loans sanctioned to individual borrowers) on part or full repayments apart from when loan is sanctioned for business purposes
Combination Rate Home Loan (TruFixed) and Fixed Rate Loans during applicability period of fixed interest rate	2% plus statutory levies/applicable taxes on part or full repayments (except when repayment is made through own source*)

*Own Source means any source other than borrowing from a housing finance company, non-banking financial company, bank or financial institution.

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Conversion Fees

Particulars	Rates
Switching to lower rate in variable rate loans (extension/housing/ renovation)	Up to 0.50% of principal outstanding and undisbursed amount at the time of conversion or a cap of Rs 50,000 (plus taxes) whichever is lower.
Switching from fixed rate loan to variable rate loan (extension/housing/ renovation)	Up to 0.50% of principal outstanding and undisbursed amount at the time of conversion or a cap of Rs 50,000 (plus taxes) whichever is lower.
Switch from the combination rate home loan fixed rate to variable rate	1.75% of principal outstanding and undisbursed amount (plus taxes) at the time of conversion.
Switch to lower rates (plot loans)	0.50% of principal outstanding and undisbursed amount (plus taxes) at the time of conversion.
Switch to the lower rates (loans under the HDFC Reach scheme) – variable rate	Up to 1.50% of principal outstanding and undisbursed amount (plus statutory levies/applicable taxes) at the time of conversion.
Switch to the HDFC Maxvantage Scheme	0.25% of outstanding loan amount plus statutory levies/applicable taxes at the time of conversion.

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Eligibility for HDFC Top Up Loan

The eligibility criteria set for top up loans from HDFC is similar to the HDFC Home Loan Eligibility for other schemes. Following are the eligibility criteria set for availing HDFC Home Top Up Loans:

Any Resident Indian with an existing home loan, a home extension loan or a house renovation loan can apply for the HDFC Top Up Loan.
Minimum Age: 21 years
Maximum Age: 65 years
A borrower can apply for the HDFC Home Loan Top Up Loan in the following situations:
- After 12 months of final disbursement of their existing home loan and upon completion/possession of existing financed property or,
- Based on the track record of last 12 months of refinancing of the top up loan from another institution, subject to completion/possession of the property.

Loan applicants who wish to avail HDFC top up loan can use the home loan EMI calculator to determine the optimum loan tenure and EMIs for their home loan top up based on their repayment capacity.

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Documentation Required for HDFC Top Up Loan

The documentation for top up loan from HDFC is very similar to the HDFC Home Loan documents required for other schemes. The list of documents needed for HDFC Home Top Up Loan are as follows:

Proof of Identity and Residence

PAN Card or Form 60 (if loan applicant does not have PAN Card) – mandatory
Any one of the following Officially Valid Documents (OVD) to establish the legal name and current address of individuals:
- Driving License
- Passport
- Election/Voter ID Card
- Job card issued by NREGA and duly signed by an officer of a state government
- Letter issued by National Population Register with details of name and address
- Proof of possession of Aadhaar number (should be obtained voluntarily)

Any document mentioned above is deemed to be an OVD even in case of change in the name after issuance provided it is supported by a marriage certificate, issued by a state government, or gazette notification indicating such a change of name.

Property Documents – Title Deed along with previous chain of property documents (if not submitted in the existing loan)

Proof of Income (for salaried)

For Salaried

Salary slips of last 3 months
Latest Form-16 and Income tax returns
Bank statement of last 6 months showing salary credits

For Self-Employed

Income tax returns and computation of income for last 3 assessment years (of both business entity and individual attested by a CA)
Balance Sheet and Profit & Loss Account statements of last 3 years with schedules/annexures (of both business entity and individual attested by a CA)
Last 6 months current account statement of business entity and savings account statements of individual