Top Up Personal Loan

A Top Up Personal Loan is an additional loan offered over and above the existing personal loan amount. It is offered to those customers who have an existing personal loan account with the lender, have a good repayment ability, and have been repaying the existing loan diligently for at least the last 1 year. You can get up to Rs. 40 Lakhs under top up loan.

Personal Loan Top-up Interest Rates

Various banks and NBFCs (non-banking financial companies) offer personal loan top up. Here are the interest rate details of some of the top lenders in India:

Bank NameRate of Interest (p.a.)Minimum Loan AmountMaximum Loan Amount
ICICI Bank10.50% - 19%Rs. 50,000Rs. 25 Lakhs
HDFC Bank10.50%-21%Rs. 50,000Rs. 40 Lakhs
SBI10.70% - 15.65%Rs. 24,000Rs. 20 Lakhs
Bank of Baroda10% - 15.60%Rs. 50,000Rs. 10 Lakhs
IDFC FIRST Bank10.49% - 22%Rs. 20,000Rs. 40 Lakhs
Kotak Mahindra Bank10.25% - 24%Rs. 50,000Rs. 20 Lakhs
Axis Bank12% - 21%Rs. 50,000Rs. 15 Lakhs

Features of Personal Loan Top-up

  • Available to existing personal loan customers: A top-up personal loan can only be availed only if you already have a personal loan account. To avail this loan, you must have a clean repayment track record and should have repaid the number of EMIs as specified by the lender for the current loan to be eligible for a top up. Usually 12 successful EMI payments are considered for sanctioning this loan. However, in some cases, like for Kotak top up loan, you have to pay only 9 EMIs.
  • Loan amount: The quantum of loan offered under the personal loan top-up varies from lender to lender. However, most lenders do not sanction a top-up loan for an amount exceeding the amount of your original personal loan. In some cases, like for HDFC personal loan top up, you get up to Rs. 40 Lakhs.
  • Attractive rate of interest: Most lenders offer top-up personal loans at the same interest rate applicable on the originally approved personal loan. Interest rates on top up loans are attractive. For example, Bank of Baroda top up loan comes with an interest rate starting from 10% p.a. Interest rates vary from one applicant to another for a personal loan top-up.
  • Instant processing and disbursal: Since this loan is offered to only existing personal loan borrowers, lenders have already done checks on the borrowers. That is why they can get approval for HDFC top up loan or other top up loans much faster in comparison to applying for a new loan.
  • Flexible tenure: A top-up personal loan can be repaid in a tenure of 12 to 60 months, depending on the remaining tenure of your existing loan.
  • No collateral/security required: Being unsecured loans, you don’t need any collateral or security to avail a top-up on a personal loan.
  • Multipurpose: You can use a top-up for multiple purposes just like a personal loan.
  • Minimal documentation: In most cases, borrowers are not required to provide additional documents to get a top up loan as the paperwork is already done at the time of disbursal of the existing loan. This saves a lot of time and makes the overall process hassle-free.

Banks for Top up on Personal Loan

ICICI Bank Top up Personal Loan 

Interest Rate10.50% - 19%
Minimum Loan AmountRs. 50,000
Maximum Loan AmountRs. 25 Lakhs

Benefits

  • ICICI Bank personal loan top up lets you opt for a new loan under which you get one consolidated EMI covering the entire value.
  • Online application through the bank’s website and iMobile app.
  • Simplified documentation ensures quick processing and disbursal.

HDFC Bank Top up Personal Loan

Interest Rate10.50% - 21%
Minimum Loan AmountRs. 50,000
Maximum Loan AmountRs. 40 Lakhs

Benefits

  • Check eligibility for HDFC bank personal loan top up in just 1 minute.
  • Get loan amount sanctioned in just 1 day from the date of documents submission.
  • Pre-approved customers of the bank can get a loan within 10 seconds.

SBI Top up Personal Loan

Interest Rate10.70% - 15.65%
Minimum Loan AmountRs. 24,000
Maximum Loan AmountRs. 20 Lakhs

Benefits

  • SBI top up personal loan comes with low interest rate charged on the daily reducing balance method.
  • No hidden charges.
  • Minimal documentation requirement.

Bank of Baroda Top up Personal Loan

Interest Rate10% - 15.60%
Minimum Loan AmountRs. 50,000
Maximum Loan AmountRs. 10 Lakhs

Benefits

  • Flexible tenure of repayment.
  • Affordable interest rates.
  • No collateral required.

IDFC FIRST Bank Top up Personal Loan

Interest Rate10.49% - 22%
Minimum Loan AmountRs. 20,000
Maximum Loan AmountRs. 40 Lakhs

Benefits

  • Attractive rates of interest.
  • You can get tax benefits on top up loans if the amount is used for the purchase of a house (principal and interest).
  • No need to submit any collateral.

Kotak Mahindra Bank Top up Personal Loan

Interest Rate10.25% - 24%
Minimum Loan AmountRs. 50,000
Maximum Loan AmountRs. 20 Lakhs

Benefits

  • Minimal paperwork involved.
  • Hassle-free processing and quick sanction of loan amount.
  • Flexible repayment options.

Axis Bank Top up Personal Loan

Interest Rate12% - 21%
Minimum Loan AmountRs. 50,000
Maximum Loan AmountRs. 15 Lakhs

Benefits

  • Axis Bank personal loan top up needs minimal documentation.
  • Flexible repayment tenure of 12 to 60 months.
  • Personal Loan EMI Calculator available on the bank’s website to check the exact EMI amount for Axis top up loan that you would be required to pay.

Top Up Personal Loan FAQs

Who Can Avail Top up Personal Loan?

A top up personal loan is offered to those borrowers who have an active existing personal loan account. It can only be availed after repaying the existing loan for a certain time specified by the lender. The time is usually 9 to 12 months.

How much top up loan can I get on a personal loan?

You can get a top up loan of up to Rs. 40 Lakhs, depending on your requirement, eligibility and lender’s policy.

Which is better to meet some urgent financial needs - Top Up Loan or Personal Loan?

A top-up loan usually comes with a lower rate of interest, requires minimal documentation and also has a quick processing time in comparison to a new personal loan. If you already have availed a personal loan from a lender, applying for a top-up loan is more sensible. However, if you don’t have any existing personal loan account, getting a new personal loan is the only option.

Are tax benefits available on Top Up Personal Loan?

Yes, you can get tax benefits on top up loans if the amount is used for the purchase of a house (principal and interest).

What does a top up loan mean?

A top up loan means an additional loan offered over and above the existing personal loan amount.

How to get HDFC personal loan top up online?

If you are seeking HDFC personal loan top up online apply through its website. You can also call at the bank’s customer care number.

How much top up loan can I get from Axis Bank?

You can get maximum Axis Bank top up loan of up to Rs. 15 Lakhs

What is the interest rate for ICICI Bank personal loan top up?

Interest rates applicable on ICICI personal loan top up vary between 10.50% to 19% p.a.

Is HDFC top up loan good?

Yes. Many customers are satisfied with HDFC top up loans. You can also check HDFC top up personal loan review online to know the feedback of customers.

What is the minimum limit for IDFC First top up loan?

You can avail a minimum of Rs. 20,000 under IDFC top up loan.

Can I get a top up loan from Bajaj Finserv?

Yes, you can get Bajaj top up loan of up to Rs. 25 Lakhs after completing 12 EMIs of your existing personal loan at Bajaj Finserv. You can get funds disbursed to your account on the same day on successful approval.

Does Indiabulls offer a top up loan?

Yes. Indiabulls offer Dhani top up loan through its app called Dhani.