Top-up loan
Also called Home loan top-up
An extra loan given on top of an existing home loan, against the same property, repaid in its own EMIs.
A top-up loan lets you borrow more against a house that already has a home loan on it. It’s a separate loan with its own EMI, rate and charges, shown in the Key Fact Statement. Many people take one while moving their loan to a new lender: see home loan balance transfer.
Questions people ask
What is a top-up loan?
A top-up loan is an additional loan on an existing home loan, secured by the same property. Your current lender, or a new lender when you transfer the home loan, gives you extra money that you repay through EMIs alongside the home loan.
Is a top-up loan the same rate as my home loan?
Not necessarily. Each lender prices a top-up loan under its own policy, so the rate, fees and tenure can differ from the home loan. Check them in the Key Fact Statement before you accept.
Can I take a top-up loan with a home loan balance transfer?
Often, yes. Many lenders offer a top-up while taking over your home loan, so you move the old loan and borrow more in one step. Compare the total cost, including fees, before you sign.
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