The top-up loan is offered to customers who have an existing relationship with the lender, have a good credit score and have repayment ability. A top-up loan is treated as a personal loan and can be obtained to meet different purposes such as home furnishing, funding children's education expenses, or for meeting other emergency expenses.
As the lender already assessed the creditworthiness of the borrower, availing a top-up loan is quite easy and quick. Also, in most cases, you don't have to furnish extra documents for approval. However, if more than 2-3 years have passed, your lender may ask you to refurbish a few documents (like income proof, bank statements and address proof).
Top-up loans are approved on the same terms and interest rate as that of the original loan. In some cases however, depending on your relationship with your lender, your eligibility, and your lender’s policy, the lender may even agree to a different interest rate or tenure, or may agree to waive off certain charges.
The loan tenure of the top-up loan is based on the tenor of the original loan. For example, if taken against a home loan, the tenure can go up to 20 years or the balance loan tenure.
For existing customers, Fullerton India offers top-up personal loans which can be availed with minimum documentation and without any hassles.
One can request a top-up loan in the following ways:
Please note that the eligibility criteria for a top-up loan are mostly similar to that of the original loan. Additionally, Fullerton India’s policy at the time of top-up loan application will determine other eligibility criteria as well as the terms of the loan.
You can take our personal loan for a variety of reasons.