New Delhi: A top-up loan is a loan provided by a bank on top of your existing house loan. Top-up home loans may have lower interest rates than personal loans or home loans, and they may be used for a range of purposes, including building expenses and remodelling.
YONO Insta Home Top-Up Loan is a service provided to pre-selected Home Loan customers via the YONO Mobile App.
Home Loans on YONO is a one-stop solution for all home-related needs such as exploring property alternatives, applying for a loan, obtaining insurance, and simplifying home outfitting, with existing bank customers covered under self-service mode. The following is a step-by-step procedure for obtaining it:
Eligibility
* Resident Type: Resident Indian
* Minimum Age: 18 years
* Maximum Age: 70 years
* Loan Duration: up to 30 years.
* Existing home loan customers that have been pre-selected for this product (Value of existing Home loan should be Rs. 10 lakhs or above)
* Maximum Limit: 8% of the home loan maximum, or Rs. 8 lakhs, whichever is less.
* To be eligible for a top-up, you must have a minimum of Rs. 50,000/-.
* The underlying Home loan’s residual tenure must be greater than three years.
* There should be no active Top-up loans for the customer.
* For the primary home loan, the equitable mortgage should have been effectively constructed.
Read More:-Auto, Taxi fares to be hiked in Delhi amid fuel prices jump? Here’s what AAP has to say
Features
* There was no branch visit.
* Customers can reach us 24 hours a day, seven days a week.
*Instant in-principle approval and a significant reduction in overall TAT
* At each stage, real-time notifications and status updates are provided.
* Low processing fees. There are no hidden costs or administrative fees.
Benefits
* You can get it in three simple steps.
* Payment is made immediately.
* It can be utilised for anything other than speculative purposes.
* Interest rates are low.
* Overdraft facilities are available.
* There is no manual interaction in this fully digital product.
Read More:-82 percent of large-cap schemes underperform benchmarks over 5 years: SPIVA report
How to avail it:
* Step1: YONO can be downloaded and registered/logged in to.
* Step2: Click on the loan in the Hamburger () menu.
* Step3: Apply Now for a Home Loan
* Step4: Fill out the Application
* Step5: Accept the terms and conditions, and the lead will be generated.
