HDFC Bank Personal Loan Top Up

Personal Loan Top Up Offers

Rate of Interest
10.50% Onwards
Pay
Single EMI
Instant Online
Approval
Balance Transfer
With Top Up
Apply For Top-up Loan With HDFC Bank







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With The Representative APR of 11.25% of a Personal Loan For ₹ 2 Lakhs To Be Repaid Over 60 Months, The EMI Will Be ₹ 4373.46 Per Month For The Entire Tenure.
HDFC Bank Personal Loan Top Up
Already Running a Personal Loan From HDFC Bank, you can apply for an extra loan amount when needed as a Top Up. Additional finance is available under the previous Loan on a priority basis as a Top Up.
A Personal Loan Top Up is an additional loan amount added to a pre-existing loan. HDFC Bank, the leading provider of Personal Loans, offers individuals to avail of this benefit and apply for a Top Up when in need of finance.
Advantages of an HDFC Top-Up Loan.
Quick Process
The customer is known to the Bank and will get an edge over a new relationship. HDFC Bank has received and verified the KYC Documents previously and knows the details of the customer which helps in the speedy process of the Loan the file will not have to go through all the prescribed process stages. Thus, the loan amount approved will reach the customer soonest.
Better Terms & Conditions
The terms of the Top-Up will be applied as per the current profile, if an applicant has changed employment and is eligible for a discount on the Hdfc Top Up Loan interest rate, the applicable rate for the balance of the Personal Loan with the Top Up will be as per the discounted Rate of Interest.
What is the Documentation Required For an HDFC Top Up Loan?
The HDFC Bank processes a Personal Loan Top Up based on an existing loan the Applicant's details already exist with the Bank therefore, the documents required for processing the Personal Loan Top Up are minimal. However, if there has been a job change, in that case, the income documents need to be submitted to confirm the current income and employment. A fresh residence proof is required if the Applicant has shifted residence or bought a new one.
Consolidate All Loans To Pay a Single Installment.
With a Personal Loan Top Up from, the Applicant can pay back all other credit lines & club the Amount under a single loan. Moreover, all dues pending for credit cards and other loans are paid back via a Personal Loan Top Up. Thus, the Applicant is comfortable paying a single amount as per the HDFC top up loan EMI calculator thus saving the hassle of following up on various payments. In addition, HDFC Bank offers the best interest rate for financial borrowings compared to other banks or NBFCs.
Options For a Longer Tenure & a Lower EMI.
If an applicant feels burdened by paying an increased EMI, there is an option of requesting a longer repayment tenure. With the HDFC Bank Top Up loan Personal loan, the Bank approves and constructs a new loan by clubbing the principal balance of the previous Loan & the fresh Amount. The Applicant can request an increase in Tenure to make the EMI affordable.
Take a Balance Transfer With an HDFC Personal Loan Top Up?
HDFC Bank offers applicants the opportunity to transfer the principal balance of their Loan from an external bank with this maneuver, the Applicant receives a discounted interest rate. The Applicant can also request a Top Up as an additional benefit with the Personal Loan Balance Transfer. Thus, the Applicant receives funds at the lowest Rate of Interest with the convenience of paying a single EMI
Pay Your Credit Card Debts with a Personal Loan Top Up From HDFC Bank.
Banks charge an interest rate of 36% for unpaid credit card dues Apply HDFC Bank Top Up Personal Loan to clear credit card dues and reduce the penal charges by half. The Bank pays the entire credit card amount dues directly, and the customer can repay the Bank via easy monthly installments.
Thus, with a Personal Loan Top Up, the credit card bills are paid instantly. The customer is relieved of the high charges and receives the benefits of an increased CIBIL score.
Features of an HDFC Top Up Personal Loan.
  • An applicant can Apply for a Personal Loan Top Up to HDFC Bank after a minimum period of 3 months after the disbursal of the primary Loan.
  • HDFC Bank sanctions Personal Loan amount up to a maximum of 35 Lakhs. Therefore, the total funding an applicant can receive as a Top Up, in addition to the pre-existing Loan is up to 35 lakhs.
  • The Tenure applicable to a Personal Loan post the Top Up is 12 to 60 months. The Applicant may apply for the desired Tenure the Bank will sanction the same as per the eligibility of the Applicant and the ability to pay the EMI.
  • HDFC Banks offers a discounted processing fee for processing a Personal Loan Top Up.
  • On approval of a Top Up, the HDFC Bank combines the principal balance of the existing Personal Loan and the additional loan amount sanctioned as Top Up to form a single loan.
How To Check HDFC Personal Loan Top Up Eligibility?
To Check The Eligibility For a Personal Loan The Following Points are to be Noted
  • The request for the additional loan amount is processed per the Applicant's current employment status.
  • If the Applicant has changed job, the HDFC Bank views the Loan application as per the status of the current employer in the HDFC Bank Company Category List.
  • The Applicant's current income will determine the loan amount the Bank approves as a Top Up and if the Applicant can comfortably pay the EMI with the current income and obligations. A Top-up may not be approved if the Applicant recently acquired additional credit.
  • The HDFC Bank will review the CIBIL Score of the Applicant. There should not be any latest bounces or delays in repayment of any credit lines with HDFC Bank or any other financial institution. The score should be above 720 points.
  • There should be no break in employment of the Applicant a job continuity of 6 months minimum is mandatory to be eligible for a Personal Loan Top Up From HDFC Bank.
  • The repayment track of the Primary Loan with HDFC Bank should be devoid of any delayed payments or defaults. Therefore, the Applicant should pay his dues promptly to secure an additional loan from HDFC Bank.
What is the HDFC Personal Loan Top Up Procedure?
An application for the Top of a Personal Loan From HDFC Bank is processed as Follows:
  • The Applicant is Required To Submit All The Relevant Documents With The Completed Application Form. An applicant can also HDFC Personal loan online apply.
  • The Bank will verify the authenticity of the documents submitted and the CIBIL of the Applicant will be accessed to verify the score & status of other Credit lines being used.
  • The Bank Conducts Physical Verification of the Applicant's Office & Residence as per the information & documents submitted with the form.
  • The underwriter will then decide on the request based on the inputs received.
  • The Applicant is informed about the status of the request the loan amount approved as a Top Up and the terms & conditions for the Loan.
What is The Procedure For The Disbursal of Funds & a Fresh EMI?
An Applicant can disburse an HDFC Personal Loan Top Online or physically sign the agreement, further
  • HDFC Bank terminates the existing loan account of the customer
  • Further, the Bank transfers the Amount approved as a Top-Up to the Applicant's Bank account by ECS.
  • Thus, a new Personal Loan is structured with the principal balance of the existing Loan & the Top Up.
  • A unique loan account number and a fresh EMI for the total loan amount for the Tenure applied will hit the account on the designated date.
What is The Difference Between a Parallel/Fresh Personal Loan and a Top Up?
An Applicant can choose to apply for a Top Up on the Personal Loan HDFC or a Fresh Loan, the implications for both are different. The choice depends on the need and the financial circumstance of the Applicant. The significant differences are as follows:
  • A new Personal Loan has its own identity, whereas a Top Up is a sum added to the existing loan.
  • The applicant can apply for a fresh Personal Loan from an external lender with varied terms, a Top-Up is an amount added to an existing loan with HDFC Bank, and the terms applicable are as per the current policy.
  • With a Top-Up the applicant pays a single EMI, with a fresh loan there is an additional installment for the loan amount.
To apply for Top Up loan HDFC or a new loan? Significant inputs, terms, and conditions helpful towards reaching a decision are as follows:
Vintage
The application for a Personal Loan Top is admissible after the repayment of three installments. A new loan is the answer if funds are required in an emergency.
Eligibility
The eligibility for the loan amount increases with a Top-Up as the principal of the existing loan carried forward to the new loan account is reduced by the installments paid. If an extra amount is needed, apply for a Top-Up.
Interest Rate
Check all market offerings for the lowest interest rate before applying for a Loan Top-Up HDFC Bank offers the best interest rate for a Personal Loan.
Foreclosure
The foreclosure option for a Personal Loan is permitted after the payment of 12 EMI if funds are required for a limited period, a Parallel loan will serve the purpose better, as a Top-Up will extend the foreclosure option for the existing loan.
Lower EMI
The EMI for a Personal Loan with the Top-Up is lower as the existing loan is restructured and the applicant can request a longer tenure for an affordable EMI.
Given Below is a Representative Example of a Personal Loan Top Up.
Details of Existing Loan with HDFC Bank
Loan Amount ₹2 lakhs
Tenure 36 months
No of EMI'S paid 6
Current EMI ₹ 6,835.53
Rate Of Interest 14%
Top Up Amount Approved ₹ 1 lakh
Calculations post Personal Loan Top Up
Top Amount approved ₹ 1 lakh
Principal Balance of the Existing Loan ₹ 1,72,186.60
Total Loan Amount Post The Top Up ₹ 2,72,186.60
Rate Of Interest 14%
Tenure of Fresh Loan 36 months
What are The Charges Applicable For a Personal Loan From HDFC Bank?
The HDFC Personal Loan Interest Rate is similar to the Top Up loan interest rate. Whatever interest the HDFC Bank is currently offering will apply to the Top Up Loan.
A discounted processing fee is deducted from the loan amount approved. The existing loan is foreclosed without any charges. Listed below is the Rate chart for a HDFC Bank Top Up Loan.
Charges Applicable Details
Rate of Interest 10.65%-22% per annum @ monthly reducing balance.
Processing Fees Minimum 999/- up to 2.5% maximum.
Pre-closure Charges After 12 months -4% of the principal is outstanding.
After 36 months- 2% of the principal is outstanding.
Loan Cancellation Charges Nil (However, the processing charges will not be refunded)
Interest will be charged on the interim period of loan closure.
Cheque Bounce Charges Rs 550/- per cheque Bounce.
Charge for Late Payment 2% Per Month from the Date of Unpaid EMI
Cheque Swapping Charges Rs 500/-
Amortization Schedule Charges Rs 200/-
Stamp Duty At actual as per Applicable Law
CIBIL Report Copy Charge Rs 50/- per copy.

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Documents Required To Apply For a HDFC Bank Personal Loan Top Up
Income Documents
Salary Slip For The Last Three Months.
Bank Statement from Salary account for the last three months showing three salary credits.
Form 16 for the last financial year.
Pan card copy
KYC Documents
Photo Identification proof. (Passport/Driving Licence/Voter I.D./Aadhaar Card/Ration Card)
Current Address Proof. (Bank Statement, Utility Bill, Rent Agreement)
Company I.D.
FAQ'S
  • What is a Personal Loan Top?
  • A Top Up is an additional loan amount added to a pre-existing Personal Loan. An applicant needing funds can apply for a Top Up personal loan HDFC on the previous Loan rather than applying for a secondary loan.

  • Why is Applying For an HDFC Bank Personal Loan Top Up Beneficial?
  • Having experienced the unparalleled advantages of the HDFC Bank, an existing Personal Loan customer will find it convenient to take a Personal loan Top Up HDFC when in need of funds.

  • Which is The Best Time To Apply For a Top Up on an Existing Personal lLoan with HDFC Bank?
  • The most suitable time to get a Top Up HDFC Personal loan is after the repayment of 3 EMIs of the existing Personal Loan.

  • Does an Applicant Need Documentation To Get a Personal Loan Top Up?
  • An applicant must provide the complete Documentation for processing a Personal Loan Top Up as per HDFC Loan Top Up conditions.

  • Can an Applicant Assume That The Request For a Personal Loan Top-up will Get Approved?
  • It is optional that the Bank will approve the request for a Personal Loan Top Up. It will depend on the eligibility & the current profile specifications & repayment track of the existing Personal Loan.

  • At What Juncture During The Loan Tenure is it Advisable To Take a 'Top Up'?
  • When funds are required, it is best to take a Top Up on the existing Personal Loan if the vintage is within six months to maintain the repayment track of the existing personal Loan.

  • How is the Extra Loan Amount or 'Top Up' Eligibility Calculated?
  • The HDFC Bank Loan Top Up calculates eligibility for the Personal Loan Top by considering the current income of the Applicant & all the present obligations. An applicant can use our EMI calculator for confirming the HDFC Bank Top Up Personal Loan.

  • Will The CIBIL Score Affect by a Personal Loan Top-Up HDFC Request?
  • The CIBIL Score is accessed every time an Applicant makes a credit inquiry: so a Personal Loan top request also gets registered in the CIBIL.

  • Why is it Best To Apply For a Personal Loan Top Up for Emergency Requirements of Funds?
  • If there is an emergency requirement for funds, it is appropriate to apply for a Personal Loan Top Up, as the existing relationship with the Bank will help in the quick & smooth disbursal of funds.

  • How Will The Current Personal Loan Tenure be Affected by a Top Up?
  • As the Top Up process involves combining the principal balance of the previous loan amount with the fresh Amount, the Tenure will restructure as per the eligibility & requirement of the Applicant.

  • Can an Applicant Process an HDFC Top-Up Loan Online?
  • An applicant can submit soft copies for processing of additional funds as a HDFC Loan Top Up online.

  • What is an Instant Process Loan Top Up Process?
  • The HDFC Bank processes the request for a Personal Loan Top Up on an instant basis. The applicant has an existing relationship with the Bank and is given the benefit of instant processing.

  • Can an Applicant Top Up a Golden Edge Personal Loan from HDFC Bank?
  • An Applicant can receive the benefits of extra funds as an HDFC loan Top Up on the existing HDFC Golden Edge Personal Loan. The terms and conditions for a Golden Edge loan will apply to the Top Up.

  • What is the EMI Date For an HDFC Top-Up Loan?
  • The EMI date for an HDFC Bank Personal Loan Top is the 6 th of every month for a physical disbursal for an online Disbursal it is the 7th .

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