All About HDFC Home Loan Top Up

Want to learn about HDFC Home Loan Top Up, Good. In this blog post, we will walk you through different aspects of HDFC home Top Up loans like interest rates, features, and eligibility. Read this post for full details.

What is Top Up Home Loan

A Home Top-up Loan is an additional loan amount that is given by the Bank/NBFC over and above your existing home loan. This type of loan is offered by various banks and financial institutions, subject to certain criteria, such as a good repayment track record, the value of the property, etc.

Although the interest rate on a home loan top-up is typically higher than the original home loan rate, it is still lower than the rate for a personal loan. The borrowed funds can be used for a variety of personal expenses, such as medical bills, education expenses, and home renovation.

The repayment process of a home loan top-up usually involves paying monthly installments over a set period of time.

HDFC Home Loan Top Up Details

HDFC Top Up Home Loan is an additional loan amount that is given to HDFC customers over and above their existing home loan. In HDFC Home Loan Top Up, customers can take a Top-up of up to Rs.50 lakhs.

HDFC Home Loan Top Up AmountUp to Rs.50 Lakhs
Retail Prime Lending Rate17.95%
HDFC Home Loan Top up Interest Rate8.75% – 9.70%
Maximum TenureUp to 15 years

Processing Fees

Up to 1.5% of the loan amount

HDFC Home Top Up Loan Login

Click here for HDFC Home Loan Top-up Login

HDFC Top up Loan Interest Rate

1. For Existing Customers (Salaried, Self-employed and Self-employed Non-Professional)

For Existing Customers
Loan SlabHDFC Home Loan Top Up Interest Rate
Outstanding Home Loan + Top-Up Loan9.00% – 9.50%

2. For Salaried, Self-employed Professionals

HDFC Home Loan Top up Interest Rate
Loan AmountWomenOthers
Up to Rs.30 Lakhs8.75%-9.25%8.80%-9.30%
From Rs.30.01 Lakhs to Rs.50 Lakhs9.00%-9.50%9.05%-9.55%

3. For Self-employed Non-professionals

HDFC Home Loan Top up Interest Rate
Loan AmountWomenOthers
Up to Rs.30 Lakhs8.85%-9.40%8.90%-9.45%
From Rs.30.01 Lakhs to Rs.50 Lakhs9.10%-9.65%9.15%-9.70%

HDFC Home Loan Top up Fee and Charges

1. HDFC Home Loan Top up Processing Fee and Other Charges

  • Processing Fee (For Salaried and Self-employed): Up to 0.50% of the loan amount and Rs.3000 whichever is higher.
  • Processing Fee (For Self-employed Non-professionals): Up to 1.50% of the loan amount and Rs.4500 whichever is higher.
  • Minimum Retention Amount: 50% of the applicable fee
  • Property Insurance: The premium of property insurance will be paid by the customer on regular basis during the loan tenure to keep his/her policy active.
  • Delayed Payment Charges: Interest up to 24% p.a. will be paid by the customer on the account of delayed payment.
  • Statutory / Regulatory Charges: These charges will be borne by the customer only.

Document TypeCharges
Check Dishonour ChargesRs.300
List Of DocumentsUp Rs.500
Photo Copy Of DocumentsUp Rs.500
PDC SwapUp Rs.500
Disbursement Cheque Cancellation Charge Post DisbursementUp Rs.500
Re-Appraisal Of Loan After 6 Months From SanctionUp to Rs.2000
Reversal of Provisional Prepayment under HDFC Maxvantage SchemeRs.250

2. Prepayment Charges

HOUSING LOAN
LoanPrepayment Charges
Adjustable Rate Loans (ARHL) and Combination Rate Home Loans (CRHL) during the period of applicability of the Variable Rate of interestNo prepayment charges except when the loan is sanctioned for business purposes.
Fixed Rate Loans (“FRHL”) and Combination Rate Home Loans (CRHL) during the period of applicability of the Fixed Rate of interest2% of the loan amount.
NON-HOUSING AND BUSINESS LOAN
LoanPrepayment Charges
Adjustable Rate Loans (ARHL) and Combination Rate Home Loans (CRHL) during the period of applicability of the Variable Rate of interest2% of the loan amount.
Fixed Rate Loans (“FRHL”) and Combination Rate Home Loans (CRHL) during the period of applicability of the Fixed Rate of interest2% of the loan amount.

3. Conversion Fee

Name of the ProductCharges
Switch to Lower Rate in Variable rate Loans (Housing / Extension / Renovation)Up to 0.50% of the principal outstanding.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Renovation)Up to 0.50% of the principal outstanding.
Switch to an RPLR-NH Benchmark Rate (Non–Housing Loans) and the corresponding spread NIL
Switch to Lower Rate (Loans under HDFC Reach)- Variable RateUp to 1.50% of the principal outstanding
Switch to HDFC Maxvantage Scheme0.25% of the outstanding loan amount.

Purposes for Which HDFC Home Loan Top Up Can be Availed

HDFC Top Up Loan can be availed for a variety of purposes such as business expansion, marriage expenses, vacation planning, education expenses, etc. 

HDFC Home Loan Top Up can also be utilized for professional and business needs.

HDFC Bank Top up Home Loan Amount

The HDFC Home Loan Top Up is an additional loan amount that can be obtained by existing HDFC Home Loan customers, who have maintained a good repayment track record over a period of time.

The loan amount for the HDFC Home Loan Top Up is subject to certain eligibility criteria, such as the borrower’s income, CIBIL score, and repayment history.

You can avail HDFC home top-up loan from a minimum of Rs.1 lakh to a maximum of Rs.50 lakh.

HDFC Bank Top up Home Loan Tenure

The maximum tenure available for HDFC Home Top up Loan is 15 years.

When I Can Apply for Home Top up Loan

You can apply for a Home top-up loan after 12 months of disbursement of your existing home loan.

Features and Benefits of HDFC Home Top up

  • Home top-up loans for a variety of purposes like wedding planning, education expenses, etc.
  • Less documentation
  • Attractive interest rates
  • For existing customers as well as new customers
  • Maximum top-up of up to Rs.50 lakhs

HDFC Home Loan Top up Eligibility

If You are paying EMI for an existing housing loan, house renovation loan, or home extension loan, then you can also apply for HDFC Home Top-up Loan.

  • Age: Customers in the age group of 21 to 65 years, can apply for a home top-up loan.
  • Profession: Salaried and Self-employed individuals can apply.
  • Nationality: Indian

hdfc home loan rates self employed classification

Documents Required for HDFC Home Top up Loan

1. Documents Required for Salaried Individuals

For Identity and Residence
  • PAN Card (compulsory)
  • Passport/ Driving License/ Voter Card/ NREGA Job Card/ Aadhar Card (Any one of the followings)
Proof of Income
  • Salary slip of last 3 months
  • Last 6 months’ bank statement
  • Form 16 (latest)
Other Documents
  • Passport size photograph
  • Cheque
  • Own contribution proof
  • Last 6 months’ bank statement if the customer has any ongoing loan
Property Related Documents

*** SUBMIT THE BELOW DOCUMENTS IF YOU HAVE NOT SUBMITTED THEM IN THE PREVIOUS LOAN APPLICATION ***

For New Homes:

  • Copy of the Allotment Letter
  • Receipts of payment made to the developer

For Resale Homes:

  • Title Deed
  • Copy of the Allotment Letter
  • Receipts of payment made to the developer

For Construction of Home:

  • Proof of no encumbrances on the property
  • Title Deed
  • Copy of the plans, approved by the Local Authorities
  • Construction estimate

2. Documents Required for Self-Employed Professionals

For Identity and Residence
  • PAN Card (compulsory)
  • Passport/ Driving License/ Voter Card/ NREGA Job Card/ Aadhar Card (Any one of the followings)
Proof of Income
  • Income tax return for the last 3 years
  • Last 6 months’ bank statement
  • Last 6 months’ current account statement of the entity or business
  • 3 years balance sheet
Other Documents
  • Passport size photograph of all the applicants
  • Cheque
  • Own contribution proof
  • Business Profile
  • Form 26 AS
  • Partnership deed in case of the business entity is a partnership firm
  • Details of ongoing loan
  • List of Directors and Shareholders with their individual shareholding
Property Related Documents

*** SUBMIT THE BELOW DOCUMENTS IF YOU HAVE NOT SUBMITTED THEM IN THE PREVIOUS LOAN APPLICATION ***

 

For New Homes:

  • Copy of the Allotment Letter
  • Receipts of payment made to the developer

For Resale Homes:

  • Title Deed
  • Copy of the Allotment Letter
  • Receipts of payment made to the developer

For Construction of Home:

  • Proof of no encumbrances on the property
  • Title Deed
  • Copy of the plans, approved by the Local Authorities
  • Construction estimate

HDFC Home Loan Top up Customer Care Number

  • HDFC Home Loan Customer Care Number: 9289200017
  • HDFC Home Loan Customer Care Toll-free Number: 1800 210 0018
  • HDFC Customer Care Home Loan Whatsapp Number: 9867000000

HDFC Home Loan Top Up EMI Calculator


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Compare With Other Lenders

LendersHome Top up Loan Interest Rate
HDFC Bank8.75% – 9.70%
State Bank of India8.80% – 9.85%
Axis Bank8.90% – 9.15%
PNB10.25%
Union Bank6.80% to 7.35% 

FAQs

Q: How much Top up home loan can I get?

Ans: You can get a maximum home top up loan of Rs.50 lakhs.

Q: Can I take top up loan on home loan?

Ans: Yes, you can take a top up loan on your existing HDFC home loan after one year.

Q: Is Top up home loan a good idea?

Ans: Top up home loan offers a low-interest rate as compared to personal loan, hence Top-up is a good option for raising funds.

Q: Which is a better top up loan or a new home loan?

Ans: Top up home loan is better than a new home loan because it offers a low-interest rate and also saves our most valuable time. 

Q: What is the interest rate of top up home loan in HDFC?

Ans: HDFC Home Top up Loan interest rate ranges from 8.75% to 9.70% p.a.

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