If you have an ongoing personal loan account and want to cover your additional needs, you don’t need to apply for a fresh loan. It is because you can always apply for a top up personal loan. On that note, let’s check out more about top up personal loans in this quick post! What is a top up personal loan? A top up personal loan is availed by an existing borrower who already has a personal loan active. If you have an active loan account and repaying it without defaults, you may be eligible for the top up personal loan. Based on your eligibility and lender’s policies, you may be entitled to avail of an amount of up to Rs.25 lakh. What are the benefits of the top up personal loan?
2. Minimum documentation The required documents for availing the top up personal loan are negligible. If you have been paying your EMIs on time, lenders may have no issues in approving the loan. 3. Quick processing A lender you have an existing relationship with may not take much time to process your application for the top up personal loan. Hence, your loan application gets processed immediately, and you are able to get funds faster. 4. No collateral Most of the lending institutions don’t ask for any collateral if you apply for an online top up personal loan. 5. Interest rate Many lenders offer an attractive lower rate of top up personal loans. The best interest rate would be available if you have a current relationship with the creditor. Having a higher credit score can also help you get low-interest personal loans. With so much going for the top up personal loan, you can apply for it online if you have extra financial needs. Bajaj Finserv comes with pre-approved offers on personal loans, home loans, business loans and more. It is to simplify loan processing and make it less time-consuming. You can check out your pre-approved loan offers today after sharing your basic details such as your name and mobile number. Additional Read: Know How You Can Avail Top Up A Personal Loan
1 Comment
Moumita Das
3/12/2021 06:25:55 am
I want to close my Senior Citizen Savings Scheme to arrange my daughter's marriage bit Punjab National Bank stayed that it is locked for entire 5 years. Is it that SCSS can not be prematurely closed ? If so, what to do ?
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |