Are there any charges for HDFC home loan prepayment for NRI?
There are several ways to pre-close a home loan. You can pay the full amount at once or only a portion of it. Everything is based on the amount of money you have on hand. Individual borrowers who want to prepay or foreclose on their HDFC home loan are not subject to fees. The following rules will apply to borrowers who are not individuals (i.e. businesses, sole proprietorship firms, or HUFs acting as co-applicants):2% of the money being paid will be charged if you prepay your HDFC Home Loan within the first six months of the loan. Additional fees such as taxes and legal charges may be imposed.Prepayments of up to 25% of the initial principal loan amount are permitted without charging any fees after the first six months and for a period of 36 months. Prepayment fees of 2% will be applied to any prepaid sum that exceeds 25% in any given financial year.
Can NRI prepay home loan from SBI?
Yes, NRIs can prepay home loans from SBI. The property's value to be leased and the borrower's ability to repay the loan decide the loan amount. They give loans with among the highest tenors (up to 33 years), with the option to pay back the loan without suffering any fees in order to reduce the term. It means you don’t have to pay any charges if you prepay your home loan.You can pay off your loan early and save money on interest costs according to the bank's prepayment policy. Be aware that there are no prepayment penalties levied by the lender for early repayment of the SBI NRI house loan.I hope you understood these facts about the HDFC NRI home loan prepayment.Read More:How to get a home loan for NRI in India?Can NRI get a home loan in India?Is it possible to get a home loan to build a new house as an NRI?
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Can NRI prepay home loan from SBI?
Kiara
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December 28, 2022
2022-12-28T20:39:11+00:00 2022-12-29T13:45:28+00:00Comment
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