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Home / Loan Products / Top Up Loans

About Top Up Loans

While creating your happy abode, if you feel that you would need to spend a little more than what you had initially budgeted, we are there for you to give you that extra help. We are happy to give you a top up loan on an existing home loan, because we understand that a home is incomplete without a dash of a little extra flavor. Let us help you get the toppings to your cake, by our top-up loans.

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Why choose SHFL for your Top Up Loans

key features
Loan Amount

₹1 Lac - ₹10 Crore

Loan Tenure

Upto 25 Yrs

Subject to your retirement age

Rate of Interest

Starting from 8.9%

Maximum Loan

Upto 90% of the property cost

Flexible Repayment

Highly flexible - upto 25 years. Loan to be normally repaid before date of retirement in case of salaried persons and before attaining 70 years of age in case of others. Repayment upto 70 years also allowed to salaried employees having assured post retirement income.

Easy Documentation

With Simple Documentation Process. Getting a home loan from SHFL is easy and quick.

Dedicated Relationship Manager

We provide Dedicated Relationship Manager to offer a distinguished service to our Customers.

Tax Benefits

The income tax authorities offer certain benefits and exemptions to individuals who have taken a housing loan from specified financial institutions. Section 24 of the Income Tax Act. Interest paid on capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction. Rs 2,00,000 is the maximum amount eligible for deduction in the case of self-occupied property and for rented out property there is no limit of amount of deduction. Section 80C of the Income Tax Act. You can get a maximum Rs.1,50,000 deduction from the Income, on repayment of principal during a financial year. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount.

Insurance Products

Life insurance cover is offered to housing loan borrowers , at affordable premiums against risk of death during the tenure of the loan under group insurance Credit shield scheme. We have a tie up with Shriram life insurance and Kotak life insurance for the same. The premium can be funded as well . We also offer a property insurance to our customers to safeguard the structure against any accidents or damages.

Top Up Loans Eligibility

  • You should be between the ages of 24 to 70 (at the time of completion of your home loan).
  • You should be a salaried individual, a self-employed Professional/Non-Professional or Non-Individual Entities.
    I AM
  • Salaried
  • self employed
  • INDIVIDUAL

For salaried individuals, home loan eligibility criteria is as follows –

Monthly salary must be a minimum of Rs. 30,000
A minimum of two years of work experience is a must

KYC Documents

IDENTITY PROOF (Self attested copy of any one of the following)
Valid Passport
PAN Card
Voters ID Card
Identity Card (only government & PSU employees)
Aadhar Card (UID)
Valid Driving License
ADDRESS PROOF (Self attested copy of any one of the following)
Latest Telephone Bill
Latest Electricity Bill
Bank Account Statement
Valid Passport
Copy of sale deed (if self-owned property or Index II)
Letter from Employer (Government and Public sector organizations)
Rent Agreement
Valid Driving License
Gas Bill/ Utility bill
Aadhar Card(subject to address provided by the customer is the same as on Aadhar Card and positive residence verification of the provided address

Processing Fees

Up to 0.50% of the loan amount or ?5,000 whichever is higher, plus applicable taxes.

Pre-Payment Fees

Individual Borrowers – Nil

For self-employed individuals or entrepreneurs, home loan eligibility criteria are such that they have must at least three years of experience in their current field.

KYC Documents

In case of Pvt. Ltd. Company(name of the company, principal place of business, mailing address of the company, telephone! fax number)
Certification of incorporation
Memorandum & Articles of Association
Resolution from Board of Directors
Latest telephone bill
In case of Partnership Firm (Legal name, address, names of all the partners and their addresses, telephone numbers of the firm and partners)
Registration certificate
if registered
Partnership deed ( preferably registered)
Latest telephone bill in the name of firm/partners
Power of attorney granted to a partner or an employee of the firm to transact business on its behalf. (Authorized signatory proof in case of partnership firm)
AGE PROOF (Self attested copy of any one of the following)
Pan card
Valid passport
Valid driving license
School leaving certificate
Birth certificate
Aadhar Card (UID)
SIGNATURE PROOF (Self attested copy of any one of the following)
Pan card
Valid passport
Signature verification from the bank

Processing Fees

Up to 0.50% of the loan amount or Rs. 5,000 whichever is higher, plus applicable taxes.

Pre-Payment Fees

Individual Borrowers – Nil

Downloads

Application Process

Fill the application form and submit to us.

Our Representative will talk to you for a quick chat.

Congratulations! You’re on your way to secure Top Up Loans!

We have made simple for you... apply now

Evaluate your finance with our calculator

  • EMI Calculator
  • Eligibility Calculator
Loan Amount :
1,00,000
10,00,00,000
Loan Tenure :
Years
1 Year
30 Year
Rate of Interest :
%p.a.
1%
30%

Your EMI Amount will be

1,888/month

Principal Amount

1,00,000

Interest Amount

13,228

Total Amount Payable

1,13,228

Note: These calculators are provided only as general self-help planning tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances or an assurance from SHFL on the calculations.
Gross Income (Monthly) :
15,000
1,00,00,000
Tenure (Years) :
Years
1
30
Rate of Interest :
%p.a.
1%
30%
Other EMIS :
0
1,00,00,000

Your Home loan Eligibility

12,60,081

Your Home Loan EMI will be

12,496

Note: These calculators are provided only as general self-help planning tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances or an assurance from SHFL on the calculations.

24x7 at your service

  • Mobile App

    Now, you can experience the benefits of home loans anywhere and anytime, without the need of a computer, on your mobile.

    Know more

Frequently Asked Questions

When is the right time to apply for a home loan?

From the time you decide to invest in real estate to the time you decide the final property, any time in between is a good time to apply for loans. The loan amount is sanctioned in principle so that you can know the loan amount limit. This will help you plan your other expenses involved during setting up your dream home.

Is home loan only for a ready property?

The good news is that you can avail a home loan for any ready property, under construction or if you are constructing your own house. The loan can also be applied before the commencement of the project.

Can I get an in-principle approval and actually avail of the loan later?

We are happy to say yes again! Before you choose the house you want to buy, we give you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible.

Who can be a co-applicant?

The Co-owners of the property for which loan has been sought can be co-applicants. The co-applicants must be blood relatives. Usually, joint applications are from husband-wife, father-son or mother-son.

Why should I have a co-applicant to the loan?

To maximize the sanctionable loan amount.. Adding a woman as co-applicant also helps in getting a better interest rate.

100000+ Happy Customers
80+Branches in India
4000 +CrGross Loan Assets