Access Extra Funds Easily with MyFinCorp Top-Up Loans

Top Up Loans

Boost Your Existing Loan with Top-up Loans

Expand Your Financial Horizons with Top-up Loans

At MyFinCorp, we understand that financial needs can evolve over time. Our Top-up Loans offer you the flexibility to access additional funds conveniently and quickly, leveraging your existing loan relationship with us. Whether you’re looking to renovate your home, fund a wedding, finance education expenses, or meet any other personal financial goals, MyFinCorp Top-up Loans are designed to cater to your evolving needs.

Why Choose MyFinCorp for Top-up Loans?

Additional Funds: Access extra funds over and above your current loan amount without the hassle of applying for a new loan.
Minimal Documentation: Benefit from simplified documentation requirements since you are already a valued customer of MyFinCorp.
Competitive Interest Rates: Enjoy competitive interest rates that are often lower than those of personal loans or credit cards.
Flexible Usage: Utilize the funds for a variety of purposes, ensuring you have financial flexibility when you need it the most.
Quick Processing: Experience swift processing and disbursal of funds, supported by our efficient loan processing systems.

8.5%

Interest Rate

Starts from 8.5 to 12%

90%

Loan Amount Range

Up to 90% on Property value

0.5%

Fees and Charges

Start from 0.5% to 1%

For Salaried Employees

KYC: Applicant and Co-Applicant

PAN Card (Mandate)
Aadhar Card (Mandate)
Voter ID (optional)
Driving License (optional)
Passport (optional)
Latest Passport Size Photo
Employer ID card
Resident Address Proof

Income Proof Documents:

3 months Pay slips (Latest)
IT returns for the past 2 years or Form 16 or PF ( Provident Fund ) Statement
6 months Bank Statement latest where your salary is credited

For Self-employed

KYC: Applicant and Co-Applicant

PAN Card (Mandate)
Aadhar Card (Mandate)
Voter ID (optional)
Driving License (optional)
Passport (optional)
Latest Passport Size Photo

Income Proof Documents :

Income Tax Returns ( ITRs ) for the Last 3 years ( Along with Profit & Loss and Balance sheet and Computation of income)
Office or Shop Business Registration Certificate.
One year Bank Statement from personal a/c and Current Account
GST registration certificates, 1 year GST monthly returns (if applicable.)
Partnership deed in case of partnership firms (if the applicant is one of the partners).
Certificate of Incorporation in case of Limited or Pvt. Ltd Company (if the applicant is one of the Directors).

For NRI

KYC : Applicant and Co-Applicant

Valid passport and visa (attested copy)
PAN, Driving License, Aadhar Card
Address proof with the current overseas address
Documents must be attested by Overseas Notary Public or Indian Embassy/Consulate.
passport size photograph
Employer identity card

Income Proof Documents for NRI

For Salaried
- Employment contract Letter with an English translation (if it’s in another language)
- Last 6 months’ salary slips or salary certificate
- Last one Year bank statements showing salary credits
- Latest Individual Tax Return (duly acknowledged copy) except for NRIs/PIOs located in Middle East countries & Merchant Navy employees.
For Self-employed
- Business address proof
- Income proof in case of Self-employed Professionals / Businessmen.
- Last 2 years’ balance sheet and P&L accounts (audited / C.A. certified).
- Last 2 years’ Individual Tax Return except for NRIs/PIOs located in Middle East countries
- Last 12 months’ bank statements of overseas account(s) in the name of individual as well as company.
GPA ( General Power Attorney ) PAN, Aadhar Who is Staying in India

Property documents

Agreement of Sale
Mother link Document Copies of all, that can establish the chain of ownership for the past 20 years.
Building Construction Permission Plan
Encumbrance certificate for 20 years
Property tax paid receipt

A top-up loan is an additional loan facility offered by lenders to existing borrowers who have a good repayment track record on their current loans. It allows them to borrow additional funds over and above their existing loan amount without the need for a new loan application.

Eligibility typically depends on factors such as the borrower's repayment history, creditworthiness, income stability, and the value of the collateral (if any). Borrowers must have an existing loan with the lender and meet specific criteria set by the lender.

Top-up loans can be used for various purposes, including home renovations, education expenses, wedding costs, medical emergencies, or any other personal financial needs. The usage flexibility depends on the lender's policies.

Interest rates on top-up loans are generally lower than those of personal loans or credit cards but slightly higher than the interest rates on the existing loan. Rates are determined based on factors such as the borrower's credit score, loan amount, tenure, and the lender's policies.

Typically, borrowers can apply for a top-up loan through the lender's online portal, mobile app, or by visiting the nearest branch. The application process is streamlined for existing customers, requiring minimal documentation as most details are already on file with the lender.