New Delhi, June 12 -- As financial needs and aspirations of borrowers evolve, borrowers in the country are increasingly turning towards personal loan top ups to bridge the gap of short term funding and ease things. With the most recent repo rate cut of 50 basis points, things have turned even more complicated for borrowers.

Not only this, the lending norms are also becoming tougher therefore to deal with these challenges it is extremely important to understand the concept behind personal loan top ups and their efficient use to make the most of the rapidly changing economic environment.

A personal loan top up permits an existing borrower to access additional funds on top of their current personal loan. That too without starting any new a...