Information about Top Up Loan
A home loan with Standard Chartered Bank lets you do more than just buy a home. We have a product that is specially suited to the needs of our home loan customers – top up loan.
A top up loan is a facility given to our existing home loan customers over and above their existing loan. So, if you have taken a home loan from us, and are now in need of additional funding, a top up loan is the answer for you. You may need money to buy a swanky new home theatre system, to renovate your home, or to finance your child’s education. A top up on your home loan allows you to meet these or any other needs you may have, and that too, at attractive interest rates.
Features
A home loan customer who has been repaying for more than 6 months is
eligible to apply for a top up.
You can get a top up, up to 100% of the original loan amount disbursed.
The tenure for the top up can be up to the outstanding tenure on your
existing home loan.
Advantages
Lower Costs – Compared to other alternatives like personal loans, a top
up loan gives you a better deal when it comes to interest rates as well as
processing fees. So you can leverage on your existing home loan to help
you save costs.
Convenient Repayment – A top up loan allows you to repay over a longer
tenure compared to a personal loan, helping you to keep your monthly
outflow low.
You also have the option of transferring your existing loan to Standard Chartered Bank and availing a top up loan along with the transfer.