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Top-up Home Loan
- Affordable interest rates
- Easy application process
- Borrow up to 80% of property value
Reasons to buy Top-up Home Loan with ABHFL
Flexibility in usage
No restrictions on how you utilise the top-up funds. Use it however you want it.
Competitive interest rates
Enjoy lower interest rates on top-up home loans as compared to personal loans, making them more affordable and manageable.
Customised repayment terms
Choose from a variety of repayment tenures that align with your financial situation and preferences.
Quick processing times
Experience quick and efficient loan processing to access funds promptly.
Dedicated customer service
Receive exceptional customer service throughout the top-up home loan process, from application to post-disbursement.
Debt consolidation
Consolidate multiple debts into a single top-up home loan to simplify debt management and reduce interest payments.
Get Instant Digital Sanction
Get Instant Digital Sanction for your top-up home loan applying at your convenience anytime anywhere on ABCD app.
Which Loans Are Eligible For Top-up
If you have any of the following loans, you can get a Top-up Loan on it.
Get A Top UP Home Loan In 5 Easy Steps
Top Up Home Loan Eligibility
Are you eligible for a top-up home loan? Check whether you meet the criteria.
Eligibility criteria
- An existing home loan with ABHFL
- NationalityIndian citizen
- Minimum age for applying21 years
- Maximum age at loan maturity60 years for Salaried & 70 years for Self-employed
- Good credit historyNew to credit or 650 & above
- EmploymentSalaried or self-employed
Fees & Charges
| TRANSACTIONS | CHARGES |
|---|---|
| Top up loan amount upto 20% of HL | +0.25% on existing Processing Fees
Processing Fees ranges from 0.25 to 1.75% |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| Name of Fee/Charge levied |
Transactions & Charges in Rupees |
|---|---|
| Revision of fixed rate to floating and vice-versa/ revision in loan interest rate/ tenure at discretion of abhfl | 2% of the loan outstanding |
| Loan re-schedulement (at discretion of abhfl) charges | 0.50% on principal outstanding amount |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| Name of Fee/Charge levied | Transactions & Charges in Rupees |
|---|---|
| • Stamp Duty • Legal and other statutory charges • Insurance Premium • Creation charge with ROC • MOE/MOD/Registration |
As per state laws, where applicable |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| Name of Fee/Charge levied | Transactions & Charges in Rupees |
|---|---|
| Applicable for non-individuals/ Loan sanction for business purpose/ individuals with other than floating rate) • Part Payment / Pre-closure is allowed after 12 months from final loan disbursement date • In case of Part Payment / Pre-closure before 12 months from final loan disbursement date, lock-in period interest will be applicable |
Floating rate term loan sanctioned to individual borrowers, with or without co-obligant(s):
|
| Floating rate term loan sanctioned to non-individual borrowers: • 4% of principal outstanding paid and lock-in charges if any.
|
|
|
Fixed interest rate housing loan given to individual:
|
|
| Fixed interest rate non-housing loans (LAP/LRD/CP/GPL/Top-up) given to Individual/Non-Individual borrowers (closed from own/other source): • 4% of principal outstanding paid and lock-in charges if any. |
|
|
Lock-in charges:
|
|
| Pre-closure quote: • Pre-closure statement charges • Original document retrieval charges |
Rs 1,000/- per loan account |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| Name of Fee/Charge levied | Transactions & Charges in Rupees |
|---|---|
| Late payment penalty / Non Conformance with any covenants / stipulated conditions |
24% p.a. i.e 2% per month on overdue amount |
| Cheque bouncing charges/NACH failure charges/Bounce charges | Rs 750/- per instance |
| Accrued Interest |
As applicable based on actual delayed status or as communicated by the lender from time to time
|
| CERSAI charges |
• When facility amount is equal to Rs. 5 lacs or lesser – Rs.50 per loan
• When facility amount is greater than Rs. 5 lacs – Rs.100 per loan |
| Request for Copies of any collateral held with ABHFL |
Rs 750/- per instance |
| Duplicate Statement/ Repayment Schedule / any other document held with ABHFL request |
Rs 200/- per loan account |
| Charge For Exchanging NACH mandate | Rs 750/- per instance |
| CIBIL report retrieval fee | Rs 50/- per instance for Consumer and Rs. 500/- for Commercial CIBIL |
| NOC issuance charges | Rs 500 |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
Documents Needed
Proof of Identity and Address
Passport/ Aadhaar Card/ Voter's ID/ Driving License/ Job Card issued by NREGA/ Registration certificate/ PAN card (PAN Card only as identity proof)
Proof of Income
Salary slip for the last 3 months showing all deductions and Form 16
Bank statement showing salary
Latest 6 months
Proof of Other Income:
Rental receipts or documents showing receipt of income
Property Documents:
Copy of Title documents and approved sanction plan
Disclaimer: ABHFL reserves the rights to call upon additional documents at its discretion. The documents will be collected by ABHFL.
Proof of Identity and Address
Passport/ Aadhaar Card/ Voter's ID/ Driving License/ Job Card issued by NREGA/ Registration certificate/ PAN card (PAN Card only as identity proof)
Proof of Income
IT Returns or financial documents for the last 2 years and computation of income certified by a CA for the last 2 years
Bank statement showing salary
Latest 6 months
Proof of Other Income:
Rental receipts or documents showing receipt of income
Property Documents:
Copy of Title documents and approved sanction plan
Disclaimer: ABHFL reserves the rights to call upon additional documents at its discretion. The documents will be collected by ABHFL.
Customer Satisfaction Stories
Don’t just take our word for it. Hear from our customers about their successful financial journey with us
Aditya Birla Housing Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
Aditya Birla Housing Finance Customer
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
Save Tax, invest more, reach goals
-
Tax-saving options, one click -
Save tax under different sections
Guaranteed returns with Fixed Deposit
-
Flexible deposit tenures
-
₹5 lakh deposits insured by DICGC
FAQs on Top-up Home Loan
A top-up home loan is an additional loan that can be availed of over and above an existing home loan. It is typically taken by borrowers who have seen an increase in their income, a decrease in their outstanding balance on their existing home loan, or who have additional anticipated expenses. If the borrower wishes to increase the loan amount and take a cash out, they can do so by applying for a top-up loan.
Yes, you can apply for a top-up home loan even if you have refinanced your home loan with ABHFL. The eligible loan amount will be determined based on your current home loan eligibility, which is assessed using the following factors:
• Income of all applicants
• Age of the primary applicant
• Existing income or EMIs
• Stability and continuity of the primary applicant's occupation
To ensure your eligibility for a top-up home loan, it is recommended to consult with an ABHFL representative to discuss your specific circumstances.
To be eligible for a top-up home loan, you must generally meet the following criteria:
• Existing home loan with ABHFL: You must hold an existing home loan with ABHFL to qualify for a top-up home loan. This ensures that the lender has a comprehensive understanding of your financial situation and repayment capacity.
• Good credit history: A strong credit history demonstrates your ability to manage debt responsibly and makes you a less risky borrower for the lender. A good credit score typically ranges from 700 to 850.
• Steady income: A stable and consistent income stream is crucial for ensuring that you can make the monthly repayments on your top-up home loan. This ensures that your loan is not unduly burdensome on your finances.
• Sufficient property value: The value of your property acts as collateral for the top-up home loan. The lender will evaluate the market value of your property to assess its ability to support the additional loan amount. The top-up loan amount is typically capped at 70–80% of the property's value.
• Loan-to-Value (LTV): LTV represents the ratio of your outstanding home loan amount to the property's market value. A lower LTV indicates a higher equity portion, which may be favourable for top-up loan approval.
Top-up home loans typically offer lower interest rates and longer repayment terms than personal loans. This is because the lender has more security as the loan is secured against your property. Also, lower interest rates translate to lower monthly repayments, making the loan more manageable for you. Additionally, top-up loans are secured by your home, which means that you may qualify for a higher loan amount than you would with a personal loan.
The interest rate for a top-up home loan is typically determined based on several factors, including:
• Existing home loan interest rate: The interest rate on your existing home loan often serves as the base rate for the top-up loan. This ensures consistency in your overall interest rate and simplifies the repayment process.
• Credit history: Your credit history plays a significant role in determining the interest rate offered for your top-up loan. A strong credit history, typically reflected by a high credit score, indicates a lower risk to the lender and can lead to a lower interest rate. Conversely, a poor credit history may result in a higher interest rate.
• Loan-to-Value ratio (LTV): The LTV represents the ratio of your outstanding home loan balance to the current market value of your property. A lower LTV indicates that you have more equity in your property, making it less risky for the lender and potentially leading to a lower interest rate.
• Loan amount: The amount of the top-up loan you are applying for may also influence the interest rate. Larger loan amounts may attract slightly higher interest rates, while smaller top-ups may receive lower interest rates.
• Lender's interest rates: Different lenders have their own internal policies and risk assessment models, which can affect the interest rates they offer for top-up home loans. It is important to compare interest rates from multiple lenders to find the most competitive terms.
• Market conditions: Overall market conditions, such as prevailing interest rates and economic trends, can also influence the interest rates offered for top-up home loans. Interest rates may fluctuate over time, so it is advisable to check current rates before applying for a top-up loan.
In conclusion, the interest rate for a top-up home loan is typically the same as the interest rate on your existing home loan. However, it may be slightly higher, depending on your credit history and other factors.
