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Top-up your Home Loan - Know the Benefits, Eligibility and Interest Rate

You can avail home loan top-up for your immediate financial needs such as interior decoration, purchase of furniture, home repair work or even for your personal needs such as marriage or your children's education.

Top-up loans are available only for those who are already repaying a home loan. Also the eligibility is calculated based on different parameters such as your outstanding loan amount, your re-payment capacity and the market value of your property.

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Another important factor is your repayment history. If you are a defaulter don't even think of applying for a top-up loan.

The process is quick if you are applying for a top-up in the same bank where you availed your home loan. Otherwise you will have to repeat the process you have done for your home loan.

For top-up loans interest rate is much lower compared to personal loans. For State Bank of India, the interest rate is 11.25% at the time of writing. Also SBI offers top-up up to 2 Crores but the home loan availed should be at least 1 year old.

Also there is no re-payment or pre-closure penalty! You can apply for top-up even if you have up to two home loans in your name.

Private sector banks such as HDFC and ICICI Bank(the scheme is known as Home Plus) also offers home loan top-up, but eligibility criteria and other terms and conditions may differ. Contact your financial adviser or your bank to know more details on top-up loans.

Keep in mind that there is no tax benefits like home loans for these top-up loans except in cases where the amount is used for property acquisition.

Normally for top-up loans the payment tenure is same as the home loan tenure. Pre-payment may attract some penalty.



Induction Cooker Showing an Error Code? Induction Cooker Error Codes Explained

Are you searching for Induction Cook-top error codes? Here you can find the error codes of all popular induction cooktops and how to troubleshoot it.

These are for your reference only, do not try to open your cooktop without proper safety measures, we advise you to call the service person if any servicing is needed.

If you want to know how Induction Cook-top works, read our previous article titled What is Induction Cooker? How Induction Cooker Works?.

Whirlpool Induction Cooker Error CodesError CodeErrorSolutionF0An internal error was detected.Disconnect power. Wait 5 seconds before reconnecting power. If the symbol appears again, call for service.F2The surface cooking area is too hot and has turned off.Remove the pans from the surface cooking area. "F2" will disappear when the surface cooking area has cooled. If you turn the surface cooking area back on and "F2" reappears, the cooktop is still too hot. Turn off the surface cooking area and allow it to cool.F4The po…

HDFC Bank introduces Missed Call Service to know Account Balance

Missed call is a powerful business tool in developing countries like India where customers give a miss call to specific phone numbers for getting account details, providing feedback, voting etc. On receiving a missed call from a registered phone number, the underlying app performs a phone number lookup and sends the data to the caller via text message(SMS) or records the call details for future processing.HDFC Bank recently introduced missed call service for its retail customers which allows to retrieve bank account details, mini statement etc. by simply giving a miss call to their toll free numbers.Following services are now available: 1800 270 3333 - Account Balance 1800 270 3355 - Mini Statement 1800 270 3366 - Request for new Cheque Book 1800 270 3377 - Request for Bank account statement Also you can download HDFC Mobile Banking Application by giving a missed call to : 1800 270 3344. Other banks providing missed call serviceAxis bank(known as Axis Dial) - 09225892258Bank of India…

Top Travel Websites Reviewed - Makemytrip, Yatra, ClearTrip, Ezeego1 and TravelGuru

Disclaimer: This is an independent review on some of the most popular travel websites, I am not associated with any of these travel websites nor their promoters. If you do not agree with any of the comparisons made here, post your concerns as a comment so that the same will be reviewed and the content under question will removed from this blog.

Websites Reviewed:MakeMyTrip - - - - - Engine Visibility :: :: Book Google shows the following as group results: Domestic Airlines - International Flights - Indigo Airlines - Air India, which is a guge plus! Same here, Domestic Flights - Trains - International Flights - Hotels are shown as group Keyword rich title but not user friendly - Hotels India Disco…