HDFC Bank Personal Loan Top-Up 2022

Top-up loan is a facility that you can avail on your existing mortgage. With an add-on loan, your EMIs get cheaper, and instead of applying for another loan, you get an extended credit at a lower interest rate for the desired repayment tenure. However, not every bank offers this service and borrowers wander here and there for it. If you're also looking for a similar kind of facility from HDFC Bank, then you should know about the HDFC Bank personal loan top up. Apart from its cheaper personal loan, it offers top-up loan service on the present loan.  

• Minimal Paperwork: Since the top-up loan, the facility is given on the current loan; the lender requires the least number of documents. Besides this, the lender also knows your credit behavior; it also encourages to lesser documentation.
• Collateral Free: Today, most of the lenders offer personal loan without pledging any collateral; still some are involved in lending unsecured loans against the asset such as gold or car. On the other hand, HDFC offers its personal loan and top up over personal loan without documents for security.
• Lower Interest Rate: If you love to buy things at a lower cost without affecting the quality of the product, then you will love HDFC Bank top-up loan. Because it offers top-up loans at more economical interest rates than the usual rates applied on a personal loan.
• Faster Loan Disbursal: When the current lender has your essential documents and knows about your repayment behavior, it gives you preference, and in return, disburse loan amount faster than you expect.

Note: This is the standard table for HDFC Bank personal loan. However, you can expect a lower interest rate on the top up loan. For instance, as per this table if you have taken a personal loan at 13% and after some time if you opt for a top up loan, you can get lower interest rates on top up loan. Apart from it, you can also get some relaxation in processing fee and other charges.

Suppose you have taken a personal loan of Rs 5 lakh for at an interest of 13% for a repayment tenure of 3 years and you apply for an HDFC personal loan top up of ₹ 5 lakh at an interest rate of 11% for the tenure of 3 years. Now, after applying for a top up loan, you will be able to save more. To know more about the savings, look at the table below.

• The borrower should have an existing personal loan for more than six months with HDFC Bank or any other lender.
• The applicant should have a clean repayment history.

• Identity proof: Passport/ Aadhaar card/ Voter ID/ PAN Card/ Driving license
• Income proof: Latest salary slips/ Bank statements
• Address proof: Rent agreement/ Passport/ Utility bills
• Passport -sized photographs

Now, if you have understood about the benefits of top-up loan and looking to apply for it, then you should know that there are two ways to apply for HDFC Bank personal loan top up.

HDFC Bank: You can tour the nearest HDFC branch, or you can apply for it by visiting the official website of the bank. For more information, you can also call at HDFC personal loan customer care number. 

AFINOZ: If you want to save your precious time, then you can apply for an HDFC personal loan top up at AFINOZ. It's a loan marketplace that has tie-ups with 10+ leading banks including HDFC and several other NBFCs, to offer lower interest rates on personal loan top-ups.  By simply visiting the official website or downloading the AFINOZ app on your smartphone, you can process your top loan application.