How long does it take to process a top-up two-wheeler loan?

The processing time for a two-wheeler top-up loan for existing customers can range from a few days to a week or more based on certain factors:

• Credit Score: In some cases, those with credit scores above 750 can get same-day in-principle approval. Lower scores require detailed verification.
• Loan Amount: If the top-up loan amount is substantial, additional sanctioning authority approval may be needed, taking 2-3 days or more.
• LTV Ratio: A higher combined Loan-to-Value (LTV) ratio after top-up can mean a longer evaluation process.
• Seasonal Rush: Peak seasons or festive times may see some delays in processing top-up loans.
• Income Documents: Any change in income has to be supported by updated documents, which can add a few days.
• Digital Application: Online applications are faster as e-documents are captured and verified quicker.

Since the loan provider already has your Know Your Customer (KYC) details as an existing customer, top-up loan processing is faster than fresh loans. Once approved, the top-up amount is usually disbursed to your account within 1-2 days.