Top Up Loan: Bank top up loan.. to whom it is given? Can this eliminate all debts? | Telugu News

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Top Up Loan

Top Up Loan: Costs are increasing as time goes on. But the income is not coming as expected. Sometimes, due to special needs and need of cash, others have to be asked. At this time, some give loans charging 36 percent interest. But while it is fine when taken, it hurts when you tie it. Unable to pay off this debt, many of their properties have to be sold. But any big debt can be paid off with a little planning. Interest on loan from bank is lower than from moneylenders. Also, did you know that you can take another loan on top of the loan you have made in the bank? Let's see now..

Once upon a time they went to moneylenders who were in need. People charge interest as they like depending on the circumstances. But many banks are giving personal loans. Depending on the customer's transaction, it helps them by providing cash for their needs. Sometimes the loan from the bank may not come in emergency times. Moreover, if the bank has already taken a loan, there is a doubt whether they will give the loan again or not. But one can take another loan on the loan taken once.

For example, a person borrows Rs.5 lakh from moneylenders at 36 percent interest. He had already taken a home loan from the bank. Home loan interest is much lower than borrowing from a moneylender. But what should the usurer do to be pain free? He thought. Besides, he has the power to pay the monthly EMI if he is given another loan at a low interest rate.

In this case, if you approach the bank from which you took the home loan, they will give you a top up loan. This means that even if you have already taken a home loan of Rs.20 lakh, you can give a loan up to the amount you qualify for. Then by taking this loan and paying it to usurers, the burden will be reduced. So contact the bank now for a top up loan to get rid of the high interest debt.

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