Yes, Tata Capital offers Top-Up Home Loan on your existing home loan. You can take the top-up home loan on your existing Tata Capital Home Loan or on a balance transfer home loan from a different lender.
What is a Home Loan Top-Up?
A home loan top-up is a loan product offered by Tata Capital and many other lenders that allows a borrower to take out a new loan in addition to his existing house loan. This loan comes with pretty much the same terms and conditions as the original loan so you get to benefit a lot.
Since this is based on your original home loan, top-up home loans do not require any additional collateral.
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What Is The Benefit Of Getting A Top-Up Home Loan?
- Low interest rates
- Longer repayment tenure
- You can get tax benefits
- Helps with debt consolidation
- Quicker loan processing
A top-up home loan can also be used for any repairs or renovations you may need to undertake. Top-up home loans can be used for a number of needs and are better than personal loans due to the lower interest rates.