What is a home loan top-up, and how does it work?

A home loan top-up is an additional loan amount you can borrow over your existing home loan. It’s ideal for financing expenses like renovations, education, or other personal needs. The interest rates for top-ups are typically lower than personal loans, making them a cost-effective option. To be eligible, you must have a good repayment history and sufficient equity in your property. Contact your lender to explore top-up options tailored to your requirements.