All you need to know
Personal loan for all your needs
Check Your Credit Score
Higher credit score increases the chances of loan approval. Check your CIBIL score today and get free insights on how to be credit-worthy.
Check Credit ScoreHome Loan with instant approval starting
@ 8.75% p.a
All you need to know
Home Loan for all your needs
Calculators
Business loan to suit your growth plan
All you need to know
Business loan for all your needs
Looking for Secured Business Loans?
Get secured business loans with affordable interest rates with Tata Capital. Verify eligibility criteria and apply today
Know MoreExplore Used Car Loans
Explore New Car Loans
Explore Two Wheeler Loans
Calculators
Avail Loan Against Securities up to ₹40 crores
All you need to know
Explore Loan Against Securities
Calculators
Check Your Credit Score
Higher credit score increases the chances of loan approval. Check your CIBIL score today and get free insights on how to be credit-worthy.
Check Credit ScoreAvail Loan Against Property up to ₹ 10 Crores
All you need to know
Loans for all your needs
Calculators
All you need to know
Calculators
All you need to know
Calculators
A home loan top up is a facility offered by lenders under which a borrower can take an additional loan over and above their existing home loan. The home loan top up facility is available only for existing home loan borrowers without the need for any additional security or guarantee. A top up loan on a home loan is a multi-purpose loan that can be used for any purpose.
For example, if the property builder overshoots the initial budget and you need money to fulfill this price gap, you can opt for a housing loan top up. With Tata Capital, you can avail of a home loan top up and pay for your various requirements, such as buying furniture, extending or renovating your house, and planning the interiors of your house.
A top-up loan on a home loan allows you to avail of financing at lower interest rates and meet your additional financial requirements. Here are the reasons why you opt for a housing loan top up:
The eligibility for top up home loan varies from one lending institution to another. Therefore, you must confirm your home loan top-up eligibility with your lender before approaching it for a top-up on your home loan.To get a top-up home loan with Tata Capital, you must fulfill the following eligibility criteria:
You must be an existing customer with us. This means that you must have already taken a loan for house from Tata Capital
Your home loan payment history should not reflect any outstanding dues or defaults on EMIs
You should have a good credit score, preferably over 750
Note that our home loan top up eligibility may differ from case to case based on the customer’s profile. Hence,
you may need to fulfill some additional eligibility requirements to avail of a home loan top-up with us.
A home loan top-up is calculated on the basis of your existing home loan amount, tenure, credit score, and other similar factors. Most lenders assess your Fixed Obligation to Income Ratio (FOIR), a metric commonly used by loan providers to determine your ability to repay a loan.
In addition to this, you also have to pay an interest rate on top-up loans, which can differ based on your credit score and the loan amount and tenor.
A home loan interest calculator on our app can help you understand how to calculate a top-up loan in greater detail.
Applying for a home loan top up with Tata Capital is easy and convenient. All that you have to do is follow the steps mentioned below:
Once you complete these steps, your home loan top-up amount will be transferred directly into your bank account.
Know more about Home Loans
To qualify for an increase in your loan through the top up on your home loan, you need to meet these three criteria:
At Tata Capital, we offer home loans starting from Rs 5 lakhs and ranging up to Rs 5 crores. You can pick any amount based on your financial needs, credit score, budget, etc.
The top-up on home loan interest is usually calculated based on the prevailing interest rates on your home loan. However, it is on essential to note that the interest rates for a top-up loan may be higher or lower than the interest rates for the original home loan. It is best to discuss this in detail when applying for the top up home loan.
Yes. You can apply for a home loan top-up at the same bank as well as if you are transferring your loan to another bank through a home loan balance transfer.
The processing time for it is reasonably quick. These loans are generally pre-approved and granted quickly, so you do not have to wait long.
The top-up on home loan can be repaid with your existing EMIs within your original home loan tenure. At Tata Capital, we offer a maximum home loan tenure of up to 30 years. You can select the tenure that best fits your budget.
It is a multi-purpose loan and can be used for any purpose. As long as you have an existing Tata Capital home loan, you can apply for it and use it as you see fit.
Yes, you can apply online by using the following steps:
Since the top-up loan is a pre-approved loan, you will be shown the details of the loan amount you are eligible for. You can then proceed to apply for it.
You need to submit the following documents:
Yes, your credit score plays a critical role in all your loan applications. To qualify for a top-up on your home loan, you must have a credit score of 750 and above. The higher the credit score, the easier it gets to avail of a top-up on home loan of your preferred amount.
At Tata Capital, we charge a nominal processing fee of 0.5% of the loan amount + Goods and Services Tax (GST) for all home loans. You can reach out to our home loan customer care service to understand the applicable fees and charges involved in processing the top-up loan.
Yes, you can deduct the interest paid on the top-up loan and save money spent on tax under Section 24 of the Income Tax Act 1961. A top-up on a home loan is treated like a regular home loan for tax purposes. You can claim income tax deductions on the interest paid on the top-up loan as long as you use the funds for renovation or improvement of the concerned property. Section 24 offers tax deductions of up to Rs 2 lakh on a home loan.
The repayments towards a top-up on a home loan must be made on time. If you fail to make the payments, you will incur a late penalty fee of up to 2.00% per month over and above the prevailing home loan interest rate. You may also receive legal notice if you are unable to pay the EMIs over a period of time. It is advised to pick a loan amount and tenure that comfortably fits your budget to avoid late payments and hassles later.
Submitted successfully
Uh oh, something went wrong
Please try again later.
Start an SIP in minutes by signing up with the Tata Capital Moneyfy App. We are your one stop shop for all things investment.
SMS sent successfully!
An SMS has been sent to XXXXXXX051
Click on the link in the
message
to download the Moneyfy App.
Looking for a seamless loan experience? Get the Tata Capital Loan App and Apply for loans, Download Account Statement/Certificates, Track your requests & much more.
SMS sent successfully!
An SMS has been sent to XXXXXXX051
Click on the link in the
message
to download the Moneyfy App.
Thank you for subscribing
We will send news and updates to your registered email ID
Trust the links that start from https://www.tatacapital.com
Do not make payments in any individual’s bank accounts.
Call our Customer Care Number 1860 267 6060 for assistance
For any assistance, contact our customer support
rahul.sharma@gmail.com
Click allow button to receive notifications
SMS sent successfully!
