Understanding Top-Up on Personal Loan: Extra Funds in an Instant

Your financial needs do not always end when your loan does. When new expenses come up, starting a new loan may not always be necessary. Here, you can consider a simple top-up. It essentially gives you access to more funds on top of your existing loan. You can get more information below.

A top-up on a loan is facility where you can borrow an additional amount on top of an ongoing loan. You may be eligible for this loan service if you have been repaying your current loan regularly and have built a good repayment record.

Instead of a fresh loan application, your bank may extend extra funds based on your existing loan details, income and repayment behaviour. Since your relationship with the bank is already established, the process is generally quicker and involves minimal documentation.

Eligibility typically depends on how well you’ve managed your existing loan. Banks usually look at:

• Consistent EMI repayments with no recent delays

• A few months of repayment history on the current loan

• Income stability and repayment capacity

• Overall credit behaviour

The top-up amount varies across borrowers and is influenced by:

• Your existing loan amount and outstanding balance

• Your income and current obligations

• Your repayment track record

Here’s how you can get instant funds via top up on Loan through this 100% digital process:

1. Check your Eligibility: Log in to NetBanking or Mobile Banking to see if a top-up is available on your loan. You can also speak to your Relationship Manager for assistance.

2. Select the ‘Apply Now’ Option: If eligible, choose the top-up option displayed against your existing loan.

3. Choose the Loan Amount: Select the top-up amount you need, up to the sanctioned limit shown.

4. Review the Revised EMI: Check the updated EMI amount to ensure it fits comfortably within your monthly budget.

5. Submit Your Application: Complete the request and confirm the details.

6. Instant disbursal: The amount will be instantly disbursed for your perusal.

Once submitted, the top-up amount is typically disbursed to your linked account shortly.

With a strong legacy built on trust and reliability, HDFC Bank makes it easier to access extra funds when your needs evolve. Backed by intuitive digital tools, applying for a top-up is quick, transparent and largely paperless; check your eligibility, review EMIs and apply in just a few steps.

How long does top-up loan disbursal take?
Same day top-up loan disbursal is typically available for online applications.

Can I apply for a top-up loan at any time?
Top-up loans are usually available after you’ve completed a few months of regular repayments

Do I need to submit documents again for a top-up loan?
Typically, you don’t need to submit additional documentation for a top-up.

Will my existing loan EMI change after taking a top-up loan?
Your EMI will be revised to reflect the additional loan amount.

*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. Loan disbursement is at the sole discretion of HDFC Bank Limited and is subject to verification and documentation as per the bank’s requirements. Interest rates and offers may vary. Please check the official website for the changes/updates in the application procedure and other details.