HDFC Home Loan Top Up – Interest Rates

4 minutes

A home loan top-up is an additional loan amount that you can borrow over and above your existing home loan. HDFC offers this facility to help you meet various financial requirements. So that you don’t have to go through the hassle of applying for a new loan.

When life calls for a little extra, HDFC Bank Home Loan Top-Up is here to help. Whether you want to build an extension, or upgrade your interiors, top-up loan offer the perfect solution. With an easy application process and minimal additional paperwork, you can quickly access the funds you need.

In this blog, we will walk you through the eligibility criteria, interest rates, and the benefits of a home loan top up with HDFC Bank.

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What is a Home Loan Top Up?

A home loan top-up is an additional loan amount that you can borrow over and above your existing home loan. It offers the convenience of accessing extra funds without the need for new collateral or extensive documentation, as it is based on the security of your existing home loan.

Types of HDFC Bank Home Loan Top Up

HDFC Bank offers home loan top up to two categories of customers:

1. Existing HDFC Home Loan Customers

Existing customers can apply for a top-up loan to access additional funds for personal needs like home renovations, education, or medical expenses.

2. Balance Transfer Customers

Transfer your home loan to HDFC Bank to benefit from lower interest rates and avail a top-up loan, providing extra funds for personal or business needs while enjoying reduced EMIs.

Key Features of HDFC Home Loan Top-Up

• Multipurpose use for personal and professional needs
• Loan amounts up to ₹100 lakhs
• Minimal documentation required
• Generally lower interest rates than personal loan rates
• Repayment terms can be aligned with your existing home loan
• Fast processing and quick disbursal
• Available for existing and new balance transfer customers

HDFC Bank Home Loan Top Up Interest Rates

Category	Interest Rates
Outstanding Home Loan + Top Up Loan (existing customers)	9.50% to 10.40%
Balance Transfer + Top Up Simultaneous Loan	9.05% to 9.95%

Maximum Home Loan Top-Up Offered by HDFC Bank

HDFC Bank offers a top-up loan that can be as high as your originally sanctioned home loan amount, with an upper limit of ₹100 lakhs.

However, it depends on two conditions:

• If loan < Rs. 75 lakhs: The total of your existing loans and the new top-up loan should not exceed 80% of your property’s market value.
• If loan > Rs. 75 lakhs: The combined total should not be more than 75% of your property’s market value.

Eligibility Criteria

Factors	Criteria
Nationality	Resident Indian
Tenure	Up to 15 years
Age	18 – 70 years
Profession	Salaried and Self Employed

Documents Required

Each bank has its own documentation requirements for home loan top-ups, and HDFC Bank is no different. Here are the required documents:

1. KYC Documents

• PAN Card/ Form 60
• Passport
• Driving Licence
• Election/ Voter ID
• Job card issued by NREGA
• Aadhaar Card

2. Income Documents

a. Salaried:

• Last 3 months’ Salary Slips
• Last 6 months’ Bank Statements showing salary credits
• Latest Form-16 and IT returns

b. Self Employed:

• Previous 2 years Income Tax Returns
• At least last 2 years’ Balance Sheet
• Last 12 months’ Current A/c Statements of the business entity
• Latest Form 26 AS

3. Property Documents

• Title Deeds including other property documents (if not submitted in the existing loan)

Conclusion

Maximize your benefits with HDFC’s home loan top-up by understanding their features, eligibility, and application processes. These loans offer affordable, flexible, and quick solutions for your financial needs.

Still confused? Contact Credit Dharma for tailored solutions for your home loan needs.

Frequently Asked Questions