Apply for TopUp Home Loan Online in Axis Bank
- Location: Noida, Uttar Pradesh, India
✔ High-Value Loans
✔ Upto Rs. 50,00,000
✔ Multiple Loan Uses
✔ Loan Tenure
✔ Same as outstanding Home Loan Tenure
✔ Construction of residential/commercial properties
✔ Personal requirements and business purposed – subject to conditions as mentioned in the affidavit
TopUp Home Loan Features and Benefits
Get high-value loans
Get additional finance of upto Rs. 50,00,000
Use the loan for multiple purposes
You can avail a Top-up Loan for the following requirements:
- For construction of residential/commercial premises – Permitted
- For personal requirement and business purposed – Permitted subject to condition as mentioned in the affidavit
You cannot avail a Top-up Loan for the following requirements:
- For purchase of another residential/commercial premises – Not permitted
An undertaking cum affidavit to be collected from the borrower specifying the end use of the loan and that the loan shall not be used for any speculation, illegal activities, litigation or any other notorious activities
Repay your top-up loan along with your home loan
Loan tenure same as the outstanding home loan tenure
Benefit from low interest rates
Interest rate starting from 8.65% only
TopUp Home Loan Eligibility & Documentation
NRI/Resident Indian can avail of Top-Up Loans based on the following conditions:
- The property is to be owned by an NRI only or in joint ownership (Applicable only for NRI customers)
- Top-up loans can only be extended against complete residential property with no pending post disbursal documentation
- For an existing Home Loan borrower, clear repayment history is important. There should not be more than 1 EMI bounce in the last one year and the same should have been cleared before the next EMI date
- Existing Home Loan customers are eligible for a Top-Up Loan after six months’ clear repayment.
- For a Top-Up loan with takeover of a Home Loan from other bank, one year clear repayment track will be required.
TopUp Home Loan Interest Rates and Charges
Home Loan Rates
| Sr. No | Type | Loan Type | Loan Amount (Rs) | Effective Rate Of |
|---|---|---|---|---|
| 1 | Floating Rate | Top Up | Upto 30% of original sanction amount of home loan | Same rate as Home Loan |
| > 30% of original sanction amount of home loan | LAP rate applicable |
Base Rate – 9.05%
Processing Charges
| Scheme | Loan Processing Charges | Prepayment Charges for Floating Rate | Prepayment Charges for Fixed Rate | No Due Certificate | Solvency Certificate | Charges for Late Payment of EMI |
|---|---|---|---|---|---|---|
| Power Home | Upto 1% of the loan amount subject to minimum of Rs 10,000/- | Nil | 2% of outstanding principal/amount prepaid | NA | NA | Rs 500 per cheque bounce and a penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s |
* Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
Other Charges
| Sr. No | Type | Charges |
|---|---|---|
| 1 | Repayment Instruction/Instrument Return charges | Rs.500/- per instance |
| 2 | Cheque/Instrument Swap charges | Rs.500/- per instance |
| 3 | CERSAI Charges | Rs.500/- |
| 4 | Duplicate Statement issuance charges | Rs. 250/- per instance |
| 5 | Duplicate Amortization schedule issuance charges | Rs. 250/- per instance |
| 6 | Duplicate Interest Certifcate (Provisional/Actual) issuance charges | Rs. 250/- per instance |
| 7 | Issuance charges for Photocopy of title documents | Rs.250/- per document set |
| 8 | Charges on customer initiated requests for copies of documents | Rs. 250 per document set |
| 9 | Equitable mortgage creation charges | As applicable in the state |
| 10 | Credit Bureau report issuance charges | Rs.50/- Per Instance |
* Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
Switching Cost
Switching from the floating rate scheme to the fixed rate scheme and vice versa is permissible. If a fixed rate customer wants to reschedule a loan to the present fixed interest rate applicable to the new customers, the same is also permissible. The existing customers can also switch over to the new rate of interest applicable for the new customer. For all of the above changes, a nominal switching fee is applicable.
| Charges for changing from fixed to floating rates of interest | Charges for changing from floating to fixed rates of interest | Charges for Higher Fixed Rate to Lower Fixed Rate | Charges for Higher Floating Rate to Lower Floating Rate |
|---|---|---|---|
| 2% of the outstanding Loan amount | 1% on the outstanding principal with a minimum of Rs.10,000/- | 0.5% on outstanding principal with minimum Rs.10,000/- | 0.5% on outstanding principal with a minimum of Rs.10,000/- |
* Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
* For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed
portion of sanctioned amount.
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