FAQs on Personal Loan Top Up 

1. What is personal loan top up?

A Personal loan top up is an additional loan amount that you can avail on top of your existing personal loan, provided you have good repayment history and meet the criteria.

2. Who will be the target group for personal loan top up loan? 

Central Govt, State Govt, Quasi Govt, State PSUs, Central PSUs, PSBs, Railways, Defence and Paramilitary having their account relationship with our Ban. & Employees of the institutions where our Branch is located in the institution campus and salary of the employees of the institution is credited with any of our Branches.

3. Who will be eligible for availing personal loan top up loan?

Existing Personal Loan borrowers (Category - A) having satisfactory & regular repayment for the past 12 months.

4. Is there any cut off for CIBIL score? 

Minimum CIBIL score should be 700 for availing this loan.

5. Is there any entry age prescribed in the scheme? 

Minimum age should be 22 years.

6. What will be the loan quantum? 

Up to 25 times of salary or Rs.7.50 lakhs whichever is lower at any point of time.

7. What should be the Take Home pay for availing personal loan top up loan?

40% or Min Rs.50000/- after deducting proposed EMI. Income Tax should be mandatorily deducted from gross pay.

8. What will be the repayment period for the personal loan top up loan?

Max 60 Months or 3 months prior to superannuation or 60 years of age, whichever is earlier.

9. At any point of time, how many personal loan can I take? 

At any point of time borrower should not have more than 2 personal loans i.e., 1 regular personal loan & 1 personal loan top-up.

10. Is any security required for availing personal loan top up loan?

The borrower to provide irrevocable SI/ECS/PDCs for recovery of the loan installments. SI/ECS mandate should be synchronized with the date of credit of salary in the borrower's salary account.

11. Can I shift my salary account to other bank during the period of personal loan top up loan? 

No, A letter of undertaking will be obtained from the borrower that the borrower will not change salary account to other banks during the currency of the loan.

12. What should be my minimum credit score     

700 and above.