Unlock More Value from Your Existing Assets
Seamless additional credit for home loan and takeover customers.
The BCB Top up Loan Scheme is a flexible credit facility designed for borrowers who already have a housing loan with us or are looking to transfer their existing housing loan from another financial institution. It serves as a multipurpose financial tool, allowing you to access extra funds for home improvements or other legitimate general needs without the complexity of a completely new loan application.
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- Purpose: * Financing forHouse Repairs, Renovation, Additions, or Alterations or Other General Purposes as required by the borrower.
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Loan Amount: * For House Repairs/Renovation: Maximum ₹10 Lakh in Metropolitan centres (population ≥ 10 Lakh) and ₹6 Lakh in other centres (Existing + Proposed). (The combined outstanding balance (Housing Loan + Griha Shobha + Top up) must not exceed ₹300 Lakh.)
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Repayment Period: Maximum tenure of 120 Months.
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Security: Equitable or Registered Mortgage charge over the immovable property (House/Flat) offered as security.
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Pre-payment / Foreclosure Charges: Nil.
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Eligible Customers: * Existing customers with a Housing Loan facility at the bank showing regular repayment.
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New customers taking over Housing and Top Up loans from other Banks/Financial Institutions.
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Co-Applicant Requirement: All joint owners of the property must be included as Co-applicants or Joint Borrowers.
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Guarantors: Required on a case-to-case basis.
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CIBIL Report: Credit report to be taken on record for all applicants.
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Valuation Report: Latest valuation report from a bank-approved valuer to confirm the LTV margin.
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Undertaking: A letter confirming that the loan proceeds will be used exclusively for the sanctioned purpose.
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Insurance: The property must be comprehensively insured for at least the construction value (excluding land cost) with a Bank Clause.
- What is the maximum I can get for home repairs? You can get up to ₹10 Lakh in major cities or ₹6 Lakh in other areas, provided your total home-related debt stays within the LTV limits.
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Can I use this for non-home related needs? Yes, the "Other General Purpose" category allows for broader usage, though the total exposure across your home-related loans is capped at ₹300 Lakh.
Service Charges, Margin & Rate of Interest :
- As Applicable from time to time