Top-up personal loans 2025: Interest rates, features, and key insights | Mint

In the ever-evolving world of personal finance, people usually find themselves in situations where they need more money than they already have outstanding on their loans. One of the possible solutions in such a situation is a top-up personal loan. Borrowers can borrow more using this financial product without having to undergo a fresh loan application.

What is a top-up loan?

A top-up personal loan is an extra loan amount extended by a lender to an existing borrower in order to raise their existing personal loan amount. The borrowers can borrow additional funds under this scheme without the modification of the terms and conditions of the original loan contract. It only offers individuals the facility of borrowing extra loans along with the existing ones, generally at identical interest rates and repayment schedules.

In conclusion, they have advantages of affordability, convenience, and easy repayment. Borrowers should thoroughly consider his/her financial situation, ability to repay, and lender’s terms before utilising a top-up loan.

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