HDFC offers top up loans on existing home loans to help customers meet their additional fund requirement for personal or professional use. The interest rate of HDFC top up loan ranges from 7.70% to 8.40% p.a.
HDFC Top Up Loan Features & Benefits
- Simple repayment options
- Low interest rates starting at 7.90% p.a.
- Available for existing as well as new customers availing HDFC’s balance transfer facility
HDFC Top Up Loan Interest Rates
|Existing Customer||7.90% onwards|
|New Customer||As per the home loan slab|
Note: The interest rate applies to loans under Housing Development Finance Corporation Limited (HDFC)’s Adjustable Rate Home Loan Scheme and is subject to adjustment at the time of disbursement. The rates mentioned above are variable and linked to HDFC’s RPLR, and will fluctuate in response to changes in the latter. All the loans are made at HDFC Ltd’s absolute discretion.
HDFC Top Up Loan Processing Fee & Charges
|Self-Employed Professionals||Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes|
|Self-Employed Non-Professionals||Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes|
HDFC Top Up Loan Calculator
An EMI calculator allows you to calculate your EMIs on an HDFC Top Up loan. You just need to enter parameters such as interest rate, tenure and loan amount to know your home loan EMIs.
HDFC Top Up Loan Eligibility Criteria
All customers with an existing home loan, House Renovation Loans or a Home Extension Loan can apply for a Top Up Loan. Other factors that determine HDFC Top Up Loan Eligibility are:
|Age||21 – 65 years|
|Profession||Salaried and Self Employed|
|Credit Score||750 and above|
HDFC Top Up Loan Documents Required
Following documents are required for top up loan approval –
- Duly filled and signed application form
- Proof of identity and residence (KYC*)
- Proof of income
- Property-related documents
- Passport-size photograph of all the applicants / co-applicants
- A cheque for processing fee favouring ‘HDFC Ltd.’
- Declaration and documents clearly stating the end use of the loan
Note: The bank may ask for other documents needed for loan approval.
- PAN Card
- Driving License
- Election/Voters identification card
- Job card issued by NREGA duly signed by the officer of the State Government
- Letter issued by the National Population Register containing details of name, address
- Proof of possession of Aadhaar Number* ( to be obtained voluntarily)
How to Apply for HDFC Top Up Loan?
You can apply for an HDFC to-up loan via paisabazaar.com following the below-mentioned steps:
- Visit https://www.paisabazaar.com/home-loan/ to start your home loan application process
- Fill in the necessary details regarding your home loan requirement (personal information such as the cost of the property, your full name, date of birth, etc.)
- Select the checkbox to agree on the terms and conditions
- Click the ‘View Best Offers’ button to proceed
Best Top Up loan offers according to your eligibility will appear on your screen. You can compare the offers and choose the best one as per your requirement.
Once the process is finished, you will receive an acknowledgement message, which will include a reference number that can be used to track your HDFC Ltd. Top Up loan application. You will also receive a call from Paisabazaar’s home loan experts who will assist you in proceeding with the entire loan process.
An alternative way to apply for an HDFC Ltd. Top Up loan online is via different platforms such as HDFC Netbanking and HDFC Bank’s or HDFC Ltd.’s website.
HDFC Top Up Loan Customer Care
To get HDFC Housing Loan related queries or complaints resolved, customers can contact the lending institution through:
Missed Call Service
HDFCHOME to 56767
Customers can also write their complaints or queries on the lender’s official website.
HDFC Top Up Loan FAQs
How can I get an HDFC Top Up Loan?
If you already have an ongoing home loan with HDFC and have taken the ownership of the financed property, you can apply for a top up loan. You can also get a top up loan when you opt for a balance transfer. However, in all scenarios, you will be eligible for a HDFC Top Up Loan only after paying 12 EMIs of your existing home loan and upon the purchase or acquisition of the financed property.
What is the tenure for the HDFC Top Up Loan?
You can spread out your top up loan payments for over a maximum term of 15 years. The loan tenure also depends on factors such as the customer’s profile, age of the property and customer at loan maturity, specific repayment scheme (if any) and any other terms which may be applicable based on prevalent norms of HDFC.
What is the maximum loan amount that can be availed under the HDFC Top Up Loan?
The maximum amount that you can get under HDFC Top Up Loan depends on factors such as income, existing loan obligations and value of the property. The loan amount you can avail is also subject to your outstanding loan amount and the top up loan being offered, not exceeding 75% to 80% of the market value property as assessed by HDFC. However, the maximum top up loan that you can get is equal to your originally sanctioned loan amount of all the home loans put together or Rs. 50 lakh, whichever is lower.