Top-up home loans are popular with salaried people who use it to meet large expenses such as home renovation or child’s education or wedding. Many business owners opt for it to meet their cash flow needs
It is the cheapest loan product for raising funds. The rate of interest is marginally higher than that of a home loan. Lenders don’t put any restrictions on fund use
It is, therefore, better when compared to personal loans or loan against securities. Using a top-up loan to consolidate other expensive loan is a good idea
If the loan is used for purchase, constructi.....