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.
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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.
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Rate & Charges
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 + 1% (12% or HL + 1 % whichever is higher for existing customer) 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 -
Calculators
Rate / terms could be subject to change at management's discretion
