Top-up loan is a facility provided by banks, housing finance companies and other financial institutions that allows you to borrow a certain amount of money over and above your home loan.
Sometimes, you need another helping hand to fulfil your dreams. How wonderful would it be if someone understands your aspirations and is always there to help you? One such product that fulfils the criteria is a top-up loan. The top-up loan is a financial help provided by banks or housing finance companies so that you can easily fulfil your dreams with little more financial aid.

Suppose your bank has approved a home loan of Rs.60 lakhs for a period of 10 years. After 5 years, the outstanding principal balance on your loan is Rs. 36 lakhs. Now, if you are considering a major renovation in the house, you can consider a top-up loan (a loan that tops-up your home loan), to finance the renovation instead of opting for a costly personal loan.
A top-up loan is a loan given by the bank over and above your home loan. Just like you top-up your mobile balance if you are running low on balance, similarly banks give top-up loans over your current balance. This might have increased your curiosity to know more about the product.