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How to avail 24x7 Top-Up Car Loan?

3 min read Feb 13, 2024


A Car Loan top-up is an option to get extra funds beyond your Car Loan. The lender provides a Car Loan top-up on request for additional funds beyond the original loan amount for the vehicle. The top-up, however, is provided to borrowers who have good credit history and have repaid all their repayments on time. 

A top-up loan helps borrowers meet financial requirements without taking a new loan. They can take a Car Loan top-up to get extra cash that may be needed in case of an emergency or for other vehicle-related expenses such as repairs, car upgrades, change of tyres, etc. 

Uses & benefits of a 24x7 Car Loan top-up

A Car Loan top-up comes with several benefits. Borrowers can keep the following benefits in mind before applying for a Car Loan top-up: 

  • Quick approval: Borrowers can get quick approval on Car Loan top-up applications.
  • Quick disbursal: Lenders quickly credit the amount in bank accounts post-approval of loans. 
  • Convenient: One of the most important tips on a top-up Car Loan for emergencies is that borrowers can use the facility hassle-free and with minimal to zero paperwork. 
  • Chance to better credit score: Repaying monthly EMIs of Car Loan top-ups will lead to a better credit score for borrowers. 
  • No need to visit a branch: One can apply for a Car Loan top-up completely online. 

Myths about 24x7 Car Loan top-up

Here are some of the myths related to Car Loan top-ups:

1. Approval process is lengthy: Many believe that the Car Loan top-up process is lengthy and requires a lot of paperwork. But that isn’t the case as lenders already have borrowers’ information. 

2. Need collateral: Borrowers don’t need to provide collateral for Car Loan top-up as the car itself is collateral for the top-up facility. 

3. Interest rates are high: Again, this is a common misconception. Car loan top-ups are provided at more or less similar interest rates as Car Loans.

4. Borrowers paying car loans can’t take another loan: Lenders provide a facility to borrowers to get extra cash in the form of a Car Loan top-up to meet their financial needs. 

How to avail top-up Car Loan for emergency?


Lenders provide easy access to top-up Car Loans. Here’s how to avail top-up Car Loan for emergency: 

  • Borrowers can apply for a Car Loan top-up online using the official website of the lender. 
  • The lender processes the application without the need for document upload or branch visit. However, certain parameters such as credit score at that point in time are considered by the lender. 
  • Once the application is processed, the lender transfers the sum into the bank account of the borrower who can use the money as and when they want.

Also Read: Affording your dream car: A guide to luxury Car Loans


A top-up Car Loan is indeed an easy way to get quick money. However, borrowers should meet top-up loan eligibility criteria to benefit from vehicle loan enhancement through this additional car financing option. Understanding loan top-up documentation is also crucial for a smooth process. A Car Loan refinancing guide aids in understanding the qualifications for Car Loan extension and provides insights into supplementary auto financing. 

Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.