{"id":5234,"date":"2019-03-21T12:10:00","date_gmt":"2019-03-21T12:10:00","guid":{"rendered":"\/blog\/?p=5234"},"modified":"2025-01-30T12:22:28","modified_gmt":"2025-01-30T06:52:28","slug":"tips-to-better-manage-your-personal-top-up-loans","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/tips-to-better-manage-your-personal-top-up-loans\/","title":{"rendered":"Tips to Better Manage your Personal &#038; Top-Up Loans"},"content":{"rendered":"\n<p>Managing loans with limited income is not easy. More so if you have a personal loan along with a top-up loan. In this article, we offer you some tips on better managing both loans simultaneously:<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\">Know More About Personal Loan<\/a><\/div>\n\n\n\n<p>So\nhere are some useful tips:<\/p>\n\n\n\n<p>Do\nnot borrow more than what you actually need, irrespective of whether it\u2019s the\nbase personal loan or top-up loan. Amount you borrow will decide the monthly\nEMI. So only take loans for which you can pay EMIs comfortably. In no case your\ntotal EMIs of the month should be more than 40% of your monthly income.<\/p>\n\n\n\n<p>Don\u2019t delay or miss EMIs of your original personal loan. Lenders won\u2019t give you additional top-up loan if you are not regular with your repayments. Also, your <a href=\"https:\/\/tata-blog.osian.dev\/check-credit-score.html\">credit score<\/a> is negatively affected (in addition toimposition of late payment fine) if you don\u2019t manage your repayments properly. This in turn will lead to increase in interest rate when you take a top-up <a title=\"Personal Loan\" href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\">personal loan<\/a> later on.<\/p>\n\n\n\n<p>Having to pay lower EMIs is what most people prefer. But lower EMIs means higher total interest over the life of loan. If you want to pay less interest, choose low interest rate (not much of a choice there) and shorter tenor. This means that your EMIs will be higher. But that is a small cost to pay as in the end, you save a lot of money on total interest costs. <\/p>\n\n\n\n<p>One golden rule of managing your loans smartly is to keep reducing your outstanding amount (for both personal and top-up loans). So whenever you get access to additional surplus money that you don\u2019t need in near term, its best to use atleast a major part of it to prepay your personal loans. These loans have reducing balance interest calculations and can save significant amount of money in the long run.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply for Personal Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Managing loans with limited income is not easy. More so if you have a personal loan alongwith a top-up loan.<\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/tips-to-better-manage-your-personal-top-up-loans\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-5234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tips to Better Manage your Personal &amp; Top-Up Loans - TATA Capital Blog<\/title>\n<meta name=\"description\" content=\"Get tips on managing personal and top-up loans effectively, including borrowing wisely, staying current on payments, and reducing EMIs to save on interest over time.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips to Better Manage your Personal &amp; 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