HDFC Home loan dual rate: part payment amount limit
have my own questions for HDFC Home Loan under Dual Rate which i took in Oct 2010Now my interest rate is 12%More details :I had taken a loan on Land from HDFC under Dual Rate ( fixed for first 2 years and now paying 12% EMI ) for 15.8 LacsWhat I am planning now ?Now I am planning to do pre-payment/part payment ( around 11 Lacs ) for the sameI wanted to know if there is any limit on the pre-payment/part payment amout under HDFC Home loan if anyone has done it already. I am planning to repay more than 85%Thanks by permro_850_261 from Old Lyme, Connecticut. May 10th 2012
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Most pre payment penalties apply if you pay more than 20% additional per year... find your document called the "Note"... this should specify the terms and let you know if there is a penalty... you can also contact the company that originated your loan, and ask them for an explanation of your terms.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
All terms and conditions of your loan, including if and how pre-payments are allowed and what the penalties might be are found in your loan's "Note". It could also be called a "Loan Agreement". ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
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