New Delhi: A top-up loan is a loan from a bank on top of your existing home loan. Supplemental home loans can have lower interest rates than personal loans or home loans, and they can be used for a variety of purposes, including construction expenses and renovations.
YONO Insta Home Top-Up Loan is a service provided to pre-screened home loan clients through the YONO mobile app.
Home loans on YONO are a one-stop solution for all home-related needs, such as exploring real estate alternatives, applying for a loan, obtaining insurance, and simplifying home furnishings. , with existing bank customers being covered in self-service mode. Here is a step by step procedure to get it:
Eligibility
* Type of resident: Indian resident
* Minimum age: 18 years old
* Maximum age: 70 years old
* Duration of the loan: up to 30 years.
*Existing home loan clients who have been shortlisted for this product (existing home loan value must be Rs. 10 lakhs or more)
* Maximum limit: 8% of home loan maximum, or Rs. 8 lakhs, whichever is lower.
* To be eligible for a recharge, you must have a minimum of Rs. 50,000/-.
* The remaining term of the underlying home loan must be greater than three years.
* There must be no active top-up loans for the client.
* For the main home loan, the equity mortgage must have actually been constructed.
Features
* There was no branch visit.
* Customers can reach us 24 hours a day, seven days a week.
* Instant approval in principle and significant reduction in overall TAT
* At every stage, real-time notifications and status updates are provided.
* Low processing fees. There are no hidden fees or administrative costs.
Advantages
* You can get it in three simple steps.
* Payment is made immediately.
* It may be used for other than speculative purposes.
* Interest rates are low.
* Overdraft facilities are available.
* There is no manual interaction in this fully digital product.
How to benefit:
* Step 1: YONO can be downloaded and registered/connected.
* Step 2: Click on loan in Hamburger () menu.
* Step 3: Apply now for a home loan
* Step 4: Complete the application
* Step 5: Accept the terms and conditions and the lead will be generated.
