Policy Requirements for a Top Up are the following.
Applicant should have the Financial Eligibility for payment of an additional EMI.
The Existing Personal loan should have a timely payment track.
A customer can take up to 3 parallel loans.
PROCEDURE FOR A PARALLEL LOAN
Standard procedures & documentation requirements for HDFC Bank will be followed as for a Fresh Personal Loan.
After approval a separate loan agreement will be signed & amount will be disbursed to salary account.
A new Emi will be introduced in addition to the EMI for the previous loan as per the loan Amount its rate of interest & tenure applicable.