What is a home loan top-up and when should you consider it?

A home loan top-up provides additional credit against your existing home loan, often at lower interest rates than personal loans.

Eligibility depends on your loan repayment history, property value, and remaining loan tenure.

Hidden pitfalls include processing fees, extended tenure increasing total interest, and the risk of default affecting your home.

Use a top-up for value-accretive purposes like home renovation or education, not for discretionary spending.