Top Up Loan FAQs | Butter Money

Question 1

What exactly is a Home Loan Top-Up?

Accepted Answer

It is an additional loan given over and above your existing home loan. It utilizes the equity built up in your property (due to market appreciation) and your track record of timely EMIs to give you access to high-ticket funds at very low interest rates.

Question 2

Can I get a Top-Up if my current bank refuses it?

Accepted Answer

Yes, absolutely! If your current bank refuses your top-up request or offers a low amount, Butter Money can help you transfer your existing home loan to a new lender who is willing to provide the top-up amount you need based on the current market value of your property.

Question 3

How much Top-Up amount am I eligible for?

Accepted Answer

Your top-up eligibility depends on the current market value of your property minus your outstanding home loan balance, along with your current income and repayment capacity. Typically, lenders offer up to 70-80% of the property's market value across both the base loan and the top-up.

Question 4

Is the interest rate on a top-up higher than a regular home loan?

Accepted Answer

Home loan top-up interest rates are generally very close to regular home loan rates, usually just 0.10% to 0.50% higher. This makes them significantly cheaper than personal loans or business loans, making it one of the most cost-effective ways to borrow large sums.

Unlock up to ₹1 Crore on your existing Home Loan

Unlock up to ₹1
Crore on your
existing Home Loan