Top Up Loans: Solution For Home Loan Borrowers

If you want to own a house and you do not have funds, then you may apply for home loans which generally comes with a longer tenure and the best part is that you can also take a top up on your existing loan to meet your additional requirements. You can avail a top up on your home loan wither from an NBFC or Bank from which you have already applied for a loan. The general tenure of a top-up loan is approx 10 years which could be stretch to 15 to 20 years if the tenure of the loan is very high. You can have several benefits on your home loan top up like:

1) The top-up loans can be used anywhere means to meet your emergency requirements, manage wedding expenses, funding your child’s higher education, etc.

2) They are ideal when you are looking for quick funds to meet your emergency requirements as they require very less documentation.

3) It is available at a very less rate of interest. Moreover, it also requires no mortgage to avail a loan which is hassle-free.

4) You can also earn tax benefits on your loan under section 24 of the Income Tax Act.

Read- Top Up Loans: Solution For Home Loan Borrowers


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