New Delhi: A top-up loan is a loan provided by a bank on top of your existing house loan. Top-up home loans may have lower interest rates than personal loans or home loans, and they may be used for a range of purposes, including building expenses and remodelling.


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YONO Insta Home Top-Up Loan is a service provided to pre-selected Home Loan customers via the YONO Mobile App.


Home Loans on YONO is a one-stop solution for all home-related needs such as exploring property alternatives, applying for a loan, obtaining insurance, and simplifying home outfitting, with existing bank customers covered under self-service mode. The following is a step-by-step procedure for obtaining it:


Eligibility


* Resident Type: Resident Indian


* Minimum Age: 18 years


* Maximum Age: 70 years


* Loan Duration: up to 30 years.


* Existing home loan customers that have been pre-selected for this product (Value of existing Home loan should be Rs. 10 lakhs or above)


* Maximum Limit: 8% of the home loan maximum, or Rs. 8 lakhs, whichever is less.


* To be eligible for a top-up, you must have a minimum of Rs. 50,000/-.


* The underlying Home loan's residual tenure must be greater than three years.


* There should be no active Top-up loans for the customer.


* For the primary home loan, the equitable mortgage should have been effectively constructed.


Features


* There was no branch visit.


* Customers can reach us 24 hours a day, seven days a week.


*Instant in-principle approval and a significant reduction in overall TAT


* At each stage, real-time notifications and status updates are provided.


* Low processing fees. There are no hidden costs or administrative fees.


Benefits


* You can get it in three simple steps.


* Payment is made immediately.


* It can be utilised for anything other than speculative purposes.


* Interest rates are low.


* Overdraft facilities are available.


* There is no manual interaction in this fully digital product.


How to avail it: 


* Step1: YONO can be downloaded and registered/logged in to.


* Step2: Click on the loan in the Hamburger () menu.


* Step3: Apply Now for a Home Loan


* Step4: Fill out the Application


* Step5: Accept the terms and conditions, and the lead will be generated.