What is a Top-up loan?

An illustrative example to explain the idea of top-up on car loan

Rahul Sharma is the owner of a grocery store and owns a Mahindra Scorpio. There is a running loan of ₹6L with an EMI of ₹20,000 on his car. He has already paid 23 installments out of his required 36 EMIs. Rahul decides to take a top-up on his car loan to expand his store

Top-up on Car Loan Calculator

Message here
Message here
Original Loan Tenure
36 Months
No. of EMIs Paid
23 EMIs
New Loan Amount

7,92,753

6,00,000Extra top-up on car loan as cash in hand
1,92,753Towards foreclosure of current loan

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