Top-Up Loan

Purpose of Loans:

1. 1. For repairs/ renovations/ alteration.

Eligibility:

1. Minimum 3 yrs. repayment period should be completed of existing housing loans.

Loan Amount::

1. Max Rs. 10 lakh.

Maximum loan including top-up loan should not exceed limit of Rs. 300.00 lakh.

Basis of Advance:

1. As per Housing Loan scheme less applicable margin as per scheme less outstanding balance Max. Rs. 10.00 lakh.

Processing fees:

1. (No other charges such as CIBIL, FI & CERSAI.)
2. Loans upto Rs. 5.00 lakh – Nil
3. Loans above Rs. 5.00 lakh – Rs. 5000/-

Repayment period:

1. Maximum 17 years or due date of housing loan whichever is earlier

Rate of Interest (Fixed):

1. 0.75% above Saraswat Home Plus 

Reset of Floating Interest Rate on Equated Monthly Instalment [EMI] based Loan:

1. Option to Switch ROI Type:
   Borrowers shall have the option to switch their loan from Floating Rate of Interest (ROI) to Fixed ROI and vice versa, subject to a maximum of two (2) switches in a financial year during the entire tenure of the loan.

1. Applicable Charges:
   A request charge of 0.50% shall be levied on the outstanding loan balance at the time of the switch, irrespective of whether the switch is from fixed to floating or floating to fixed ROI.

Penal Charges:

1. Penal charges in the range of 1% to 2% p.a. each, subject to maximum of 2% p.a. for non-compliance of terms and conditions of loan contract, till such time the same is complied with.