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Home / Loan Products / Top Up Loans

About Top Up Loans

While creating your happy abode, if you feel that you would need to spend a little more than what you had initially budgeted, we are there for you to give you that extra help. We are happy to give you a top up loan on an existing home loan, because we understand that a home is incomplete without a dash of a little extra flavor. Let us help you get the toppings to your cake, by our top-up loans.

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Why choose SHFL for your Top Up Loans

key features
Loan Amount

₹1 Lac - ₹10 Crore

Loan Tenure

Upto 25 Yrs

Subject to your retirement age

Rate of Interest

Starting from 9.5%

Maximum Loan

Upto 90% of the property cost

Flexible Repayment

Highly flexible - upto 25 years. Loan to be normally repaid before date of retirement in case of salaried persons and before attaining 70 years of age in case of others. Repayment upto 70 years also allowed to salaried employees having assured post retirement income.

Easy Documentation

With Simple Documentation Process. Getting a home loan from SHFL is easy and quick.

Dedicated Relationship Manager

We provide Dedicated Relationship Manager to offer a distinguished service to our Customers.

Tax Benefits

The income tax authorities offer certain benefits and exemptions to individuals who have taken a housing loan from specified financial institutions. Section 24 of the Income Tax Act. Interest paid on capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction. Rs 2,00,000 is the maximum amount eligible for deduction in the case of self-occupied property and for rented out property there is no limit of amount of deduction. Section 80C of the Income Tax Act. You can get a maximum Rs.1,50,000 deduction from the Income, on repayment of principal during a financial year. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount.

Insurance Products

Life insurance cover is offered to housing loan borrowers , at affordable premiums against risk of death during the tenure of the loan under group insurance Credit shield scheme. We have a tie up with Shriram life insurance and Kotak life insurance for the same. The premium can be funded as well . We also offer a property insurance to our customers to safeguard the structure against any accidents or damages.

Top Up Loans Eligibility

  • You should be between the ages of 24 to 70 (at the time of completion of your home loan).
  • You should be a salaried individual, a self-employed Professional/Non-Professional or Non-Individual Entities.
    I AM
  • Salaried
  • self employed

For salaried individuals, home loan eligibility criteria is as follows –

Monthly salary must be a minimum of Rs. 30,000
A minimum of two years of work experience is a must

KYC Documents

IDENTITY PROOF (Self attested copy of any one of the following)
Valid Passport
PAN Card
Voters ID Card
Identity Card (only government & PSU employees)
Aadhar Card (UID)
Valid Driving License
ADDRESS PROOF (Self attested copy of any one of the following)
Latest Telephone Bill
Latest Electricity Bill
Bank Account Statement
Valid Passport
Copy of sale deed (if self-owned property or Index II)
Letter from Employer (Government and Public sector organizations)
Rent Agreement
Valid Driving License
Gas Bill/ Utility bill
Aadhar Card(subject to address provided by the customer is the same as on Aadhar Card and positive residence verification of the provided address

Processing Fees

Up to 2.5% of the loan amount plus applicable taxes.

Pre-Payment Fees

Individual Borrowers – Nil

For self-employed individuals or entrepreneurs, home loan eligibility criteria are such that they have must at least three years of experience in their current field.

KYC Documents

In case of Pvt. Ltd. Company(name of the company, principal place of business, mailing address of the company, telephone! fax number)
Certification of incorporation
Memorandum & Articles of Association
Resolution from Board of Directors
Latest telephone bill
In case of Partnership Firm (Legal name, address, names of all the partners and their addresses, telephone numbers of the firm and partners)
Registration certificate
if registered
Partnership deed ( preferably registered)
Latest telephone bill in the name of firm/partners
Power of attorney granted to a partner or an employee of the firm to transact business on its behalf. (Authorized signatory proof in case of partnership firm)
AGE PROOF (Self attested copy of any one of the following)
Pan card
Valid passport
Valid driving license
School leaving certificate
Birth certificate
Aadhar Card (UID)
SIGNATURE PROOF (Self attested copy of any one of the following)
Pan card
Valid passport
Signature verification from the bank

Processing Fees

Up to 2.5% of the loan amount plus applicable taxes.

Pre-Payment Fees

Individual Borrowers – Nil


Application Process

Fill the application form and submit to us.

Our Representative will talk to you for a quick chat.

Congratulations! You’re on your way to secure Top Up Loans!

We have made simple for you... apply now

Evaluate your finance with our calculator

  • EMI Calculator
  • Eligibility Calculator
Loan Amount :
Loan Tenure :
1 Year
30 Year
Rate of Interest :

Your EMI Amount will be


Principal Amount


Interest Amount


Total Amount Payable


Note: These calculators are provided only as general self-help planning tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances or an assurance from SHFL on the calculations.
Gross Income (Monthly) :
Tenure (Years) :
Rate of Interest :
Other EMIS :

Your Home loan Eligibility


Your Home Loan EMI will be


Note: These calculators are provided only as general self-help planning tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances or an assurance from SHFL on the calculations.

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Frequently Asked Questions

When is the right time to apply for a home loan?

From the time you decide to invest in real estate to the time you decide the final property, any time in between is a good time to apply for loans. The loan amount is sanctioned in principle so that you can know the loan amount limit. This will help you plan your other expenses involved during setting up your dream home.

Is home loan only for a ready property?

The good news is that you can avail a home loan for any ready property, under construction or if you are constructing your own house. The loan can also be applied before the commencement of the project.

Can I get an in-principle approval and actually avail of the loan later?

We are happy to say yes again! Before you choose the house you want to buy, we give you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible.

Who can be a co-applicant?

The Co-owners of the property for which loan has been sought can be co-applicants. The co-applicants must be blood relatives. Usually, joint applications are from husband-wife, father-son or mother-son.

Why should I have a co-applicant to the loan?

To maximize the sanctionable loan amount.. Adding a woman as co-applicant also helps in getting a better interest rate.

What is a Top up Loan?

Top Up loan is an additional credit facility offered to a customer who is already servicing loan with SHFL. Top up Loans can be availed for personal and professional needs (other than for speculative purposes) like marriage, child's education, business expansion, debt consolidation etc.

Who can avail a Top up loan?

All customers with an existing Home Loan, Home Improvement Loan or a Home Extension Loan can apply for a Top up loan. New customers availing of our Balance Transfer loan can also additionally avail a top up loan from SHFL.

What is the maximum amount that can be availed as a top up loan?

Loan Exposure on top up will be restricted as per Standard Loan Amount Matrix. Subject to Top up not exceeding 100% of BT amount or 50% market value whichever is lower.

What is the maximum term for which I can avail a Top up Loan?

You can avail a top up loan for a maximum tenure of Parent loan. Top up loan tenure should not exceed Home Loan Balance Transfer loan tenure.

What is the security that I have to provide for a Top up Loan?

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us.

What Is EMI?

EMI (Equated Monthly Instalment) shall mean the amount payable every month by the Borrower to the Lender comprising of interest, principal and interest or as the case may be.

What Is Pre-EMI?

“Pre-Equated Monthly Interest Instalment" means the interest on part disbursements of loan, from the date of disbursement to the date, prior to the date of commencement of EMI.

Why should I get Home insurance?

In the event of an unfortunate incident, home loan insurance will help you or your family pay off the home loan. This ensures that the burden does not suddenly fall upon family members at a bad time.

Does the property have to be insured?

Yes, you will have to ensure that your property is duly and properly insured for fire and other appropriate hazards during the pendency of the loan. You will also have to produce evidence thereof to SHFL, each year and/or whenever called upon to do so. SHFL should be the beneficiary of the insurance policy.

What does ‘own contribution’ mean?

‘Own Contribution’ is the total cost of the property less SHFL’s home loan.

What does ‘market value’ of the property mean?

Market value refers to the estimated amount that is expected to be fetched on the property as per the prevailing market conditions.

Do I get tax benefits on the loan?

Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961.

What security will I have to provide?

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us. It is extremely important for you to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.

When do I start repaying the principal amount?

Repayment of the principal commences from the month following the month in which you avail full disbursement of your loan. Any amount over and above the interest which is paid by you goes towards principal repayment, thus helping you repay the loan faster. This is especially useful in case your disbursements are likely to be spread over a longer period of time.

What does ’Agreement to Sale ’mean?

The ’Agreement to Sale ’ in a property transaction is a legal document executed on a stamp paper that records in writing the understanding between the buyer and the seller and all the details of the property such as area, possession date, price etc.

What does encumbrance refer to?

Encumbrance on a property refers to claims or charges on the property due to liabilities such as unpaid loans and bills. It is critical that during your home search you consider properties which are free of encumbrances of any sort.

What is an under construction property?

An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date on completion of the property.

When can I take disbursement of the loan

You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have paid your Own Contribution in full.

In how many instalments will the loan be disbursed to me?

Once we receive your request for disbursement, we will disburse the loan in full or in instalments. In case of an under construction property, we will disburse your loan in instalments based on the progress of construction, as assessed by us and not necessarily according to the developer’s agreement. You are advised in your own interest to enter into an agreement with the developer wherein the payments are linked to the construction work and not pre-defined on a time-based schedule.

Can I repay my loan ahead of schedule?

Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable foreclosure charges as per RBI Master Directions.

What is part/subsequent disbursement of a home loan?

SHFL disburses loans for under construction properties in instalments based on the progress of construction. Every instalment disbursed is known as a 'part' or a 'subsequent' disbursement.

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