Top-up Loan

This is an additional finance option available for new customers availing a balance transfer or for existing SMHFC customers.
What's more? These loans can be used for any purpose ranging from business needs to personal obligations or aspirations!
Top-up loan is a facility provided by SMHFC that allows a customer to borrow a certain amount of money over and above your home loan.
Loan against the value of a residential property which is self occupied by SMFC customer.
Get loan of upto Rs. 25 lakh with maximum tenure of 20 years.

Eligibility & Documentation

As applicable, we at SMHFC understand that every customer has varied needs, sources of income and documentation availability. We provide tailor-made solutions based on customer requirements. The final eligibility of a customer is decided on a number of factors including, but not restricted to income stability, repayment capacity, past credit record, and positive verification.

Loan Terms
Loan Amount	Minimum Rs. 1 lakh & maximum Rs. 25 lakh (higher amounts can be considered on exception basis).
Tenure	Maximum 20 years.
Interest Rate	HL ROI +1% or 12%, whichever is higher (PLR : 14.75%)
Processing Fee	2% - 3% (+GST) of the loan amount
Prepayment Charges	NIL
Loan to Value	Maximum 85%
Security	Equitable mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary.
Repayment	Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs).
MITC	SMHFC will facilitate customers to take a mortgage redemption policy through SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure.
Other Conditions	SMHFC will facilitate customers to take a mortgage redemption policy through SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure.
Delay Payment Charges	A maximum of 24% pa on the defaulted sum.
To read document retrieval and other charges, Click Here

Swipe Table

Client Selection & Approach For Gradation Of Risk

The decision to give a loan is assessed on a case-to-case basis, based on multiple parameters such as a borrower profile, borrower's repayment capacity, past repayment record, tenor of loan, occupation and stability of income, borrower's other financial commitments, product type, geography, property type, value of the property etc. Such information is collected based on a borrower’s input and field inspection by the company officials.
Calculators

Rate / terms could be subject to change at management's discretion

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