Top up is a financial service provided by bank or NBFC so that you can easily fulfill your dreams in a cost effective way. It’s a financial service provided by your home financial service provider over and above your home financial service. It can be the smartest move for you as it’s more efficient both in terms of interest as well as tenure.
Best is top up financial service can be used for any purpose, whether it is your business or personal or family need without any pre condition. Not everyone who are having home financial service can get top up financial service.
Tax can be claimed if topup is used for renovation, extension, or improvement of home.
At Actif Solutions, our approach to unified strategy implementation ensures that every aspect of your financial plan works in harmony to achieve your overall objectives.
Banks grant top up financial service based on the repayment track of the existing financial service track, credit score, valuation of the collateral, and completion of minimum tenure. Top up can be given for the tenure of your existing financial service or for a period of 10-15yrs depending on the bank.
Rates of top up are same or slightly higher than your existing home financial service but rates of top up financial services are cheaper than personal financial services, Business financial services, or mortgage financial services without any additional mortgage.
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