Personal BankingLoansTop Up Loan for HL Borrowers

Purpose of the Loan
Any personal/business needs, except for speculation/hoarding activities
Target Customers
Customers who have availed HL and is having regular repayment history of at least 12 months (of both principal & interest). 

In case of balance transfer, then the repayment history of the previous bank/HFC/NBFC may be taken in to consideration towards 12 EMIs

 
Age
 Minimum
 21 years
Maximum
 65 years
 Amount

Minimum –Rs.1.00 lakhs 

Maximum- As per existing FOIR, LTV & income eligibility norms of SIB Home Loan.

Tenure

Minimum -1 year 

Maximum- Equal to the balance tenor of HL / 7 years ( whichever is higher ) .

LTV
up to 90% *(based on loan amount)
*conditions apply
Interest rate
EligibilityMinimum Bureau
 Minimum Bureau Score of 730 and above  for applicant.
Features
  • There should not be any over dues in existing Housing Loan.
  • Only completed residential properties with registered title ownership is eligible for Top Up Loan.
  • Top-up loan cannot be given for Repairs & renovation. The same may be considered under HL-Repairs and Renovation.
  • Only one Top Up loan is permissible against one residential property secured under SIB HL.
Processing/Upfront fees
 1.00% of the loan amount 
 
Documents required

Salaried Class

Business Class

Pensioners

KYC Docs (PAN Card and Aadhar Card and Photographs)

KYC Docs (PAN Card and Aadhar Card and Photographs)

KYC Docs (PAN Card and Aadhar Card and Photographs)

ITR for the two years with computation sheet

ITR for the two years with computation sheet

ITR for the two years with computation sheet

Salary Slip/Pension Statements for 3 months deed etc to be taken

Recent financials of the firm

Salary Slip/Pension Statements for 3 months

Account Statement for 6 months

Account Statement for 6 months.

Account Statement for 6 months

Title deeds, Possession Certificate, Location certificate and sketch, encumbrance certificate, Tax Paid Receipts