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Top Up Loans

When you desire to live a life without limits, a top up on your loan amount is just what you need! At Sundaram Home, we offer you a Top Up Loan on your existing Home Loan which could help meet your personal commitments, holidays, gifts or any contingencies.

Features

Quick processing and disbursal of loans

Hassle-free personalised service and flexible approach

Specialised in-house legal and technical assistance

State-of-the-art infrastructure for document security

120+ branches across India to serve you better

Insurance scheme in association with Royal Sundaram

Primary Applicant

Age: 18-65 YEARS

Nationality: INDIAN

Professional: SALARIED / SELF EMPLOYED

Gender: ALL GENDERS


Co-applicant

  • Adding co-applicant helps in maximizing the loan amount.
  • Co-applicant can be spouse or close family members.
  • Attractive interest rate for women co-owners.
  • All co-owners of the property ought to be co-applicants.

Gross Monthly Income (Rs.) 50000

₹ 5 K₹ 4 L

Tenure (Years) 1

1 Yr25 Yrs

Interest Rate (%) 8.5

6.5 %15 %

Other Loan Commitments (Rs.) 0

₹ 0₹ 4 L

Your Loan Eligiblity Amount is

0

Loan Amount 2000000

₹ 1 L₹ 400 L

Tenure (Years) 5

1 Yr25 Yrs

Interest Rate (%) 8.5

6.5 %15 %

Your EMI Amount is

0

KYC Documents
Proof of identity and address

  • Aadhaar Card
  • Driving Licence
  • PAN Card (Mandatory)
  • Passport
  • Voter ID Card
  • Bank Passbook with photo
  • Photo Credit Card
  • Any other Photo ID (subject to the satisfaction of the Company)

Income Documents
Proof of Income

    SALARIED
  • Last 6 months' Salary Slips
  • Last 6 months' Bank Statements, showing salary credits
  • Latest Form-16 and IT returns
  • SELF EMPLOYED
  • Last 12 months' GST Returns
  • Last 6 months' Bank Statements
  • Last 3 years' IT returns

Property Documents
Property related documents
Constructing your house on your plot of land

  • Original registered title deed in your favour
  • Parent document copies * linking the chain of transactions over the past 15 years
  • Encumbrance certificate for a minimum 13 years or (for prior period) @
  • Original plan approved from the Competent Authority &Lay out Approved Plan
  • Patta in your name
  • Original Estimation

* If the parent deed is prior 13 years and covers the same extent of property currently owned then such original prior / parent deed is also required.

@ If the parent deed is prior 13 years covers the same extent of property currently owned then the EC from the date of the said Original purchase/acquiring of the property is required.

Purchasing a Flat from Builder

  • Original registered sale deed for undivided share in favour of the customer
  • Original sale and construction agreement (To be registered if applicable) in favour of the customer
  • Original stamped receipt for the payments made by the customer to the builder (i.e. = Total property cost - Home loan amount)
  • Encumbrance certificate for a minimum 13 years or for prior period if applicable
  • Parent document copies for a minimum 13 years or for prior period of documents if applicable
  • Permission of Mortgage Letter by the builder in favour of Sundaram Home's format
  • Copy of approved plan and floor plan
  • Handing over of possession of flat
  • Completion certificate from builder

Buying a house on a resale basis

  • Original sale agreement between the seller & the customer
  • Original sale deed in favour of the seller
  • Parent documents * for a minimum 13 years *
  • Encumbrance Certificate for a minimum 13 years @
  • Patta and house tax receipt/ EB receipt (latest)
  • Original stamped receipt from the seller (i.e. = Total property cost – Home loan amount)
  • Copy of approved Building plan & Lay out Approved Plan
  • Draft sale deed
  • Evidence of handing over of possession by the seller

* If the parent deed is prior 13 years and covers the same extent of property owned by the vendor then such original prior / parent deed is also required

@If the parent deed is prior 13 years and covers the same extent of property owned by the vendor, then the EC from the date of the said Original purchase/acquiring the property is required.

Buying a flat on a resale basis

  • Original sale agreement between the seller & customer
  • Original sale deed in favour of the seller
  • Original construction agreement in favour of the seller
  • Original stamped receipts given by the builder favouring the seller
  • Parent documents * for a minimum 13 years *
  • Encumbrance Certificate for a minimum 13 years @
  • Latest property tax / EB/ Water & Sewerage receipt in favouring the seller
  • Original stamped receipt from the seller (i.e. = Total property cost – Home loan amount)
  • Copy of approved plan and floor plan
  • Evidence of handing over of possession by the seller

* If the parent deed is prior 13 years and covers the same extent of property owned by the vendor then such original prior / parent deed is also required

@If the parent deed is prior 13 years and covers the same extent of property owned by the vendor, then the EC from the date of the said Original purchase/acquiring the property is required.

Power of Attorney

THE POWEER OF ATTORNEY FORMAT USED IN CASE

When power of attorney is executed in India

  • Attorney should be a resident of India
  • Power of attorney is to be executed on a non-judicial stamp paper of Rs.100/- (State of Tamil Nadu)
  • The executant should execute in each page of the Power of Attorney and wherever the blanks relevant details are to be duly filled in.
  • A Judicial Magistrate or a Notary Public should ATTEST the signature of the executant.

In case of non-residents, if the power of attorney is being executed outside India

  • The attorney should preferably be a resident of India
  • The power of attorney should be executed on a plain paper as the case may be as applicable in the country in which the power of attorney is executed.
  • Any authorised official of the Indian Embassy/Consulate/Trade commissioner / Notary in the country where the executant resides should attest the signature of the executant.
  • The Power of attorney after being received in India, should be duly adjudicated / validated in the Concerned District Registrar, in India.
Power of attorney - Format :

FAQs

When can I apply for a top up loan?+

You can apply for a top up loan after 12 months' of the final disbursement of your existing home loan and upon possession / completion of the existing financed property.

What is the maximum term for which I can avail a top up loan?+

You can avail a top up loan for a maximum term of 15 years or till your age of retirement, whichever is lower.

What are the securities I needed to avail 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.

Can I avail a top loan in addition to a take over loan from Sundaram Home?+

Yes, you can avail an additional top up loan along with take over Loan.

What are the documents required for a top up loan ?+

You can find a checklist regarding documents required on Link to document section