If you are thinking about prepaying your HDFC home loans early, then I must say it is a clever decision. Even though you will have to pay prepayment charges, you will ultimately save a lot of money on the interest cost. You can pre-close your home loan in several ways; you can pay the entire amount at one time or you can pay in part. It all depends on your fund requirements. Let me explain how to prepay HDFC home loan at one shot easily.
How to Do Prepayment of Hdfc Home Loan Entirely
Prepare a list of all documents that you will be required to submit to the bank along with the application (link given below). These documents include a bank loan statement, letter requesting for closure of the loan, identity proof, tripartite agreement, conveyance deed, builder buyer agreement, sale deed of the property, possession letter, bank loan statement, etc.
After that, your bank will calculate the outstanding amount as well as the interest and penalties if any.
Next, you will have to deposit the required amount using the Demand Draft or cheque.
After that, your bank will provide you with an acknowledgment letter specifying the same.
The No Dues certificate and The NOC (No Objection Certificate) will be provided to you in a couple of days.
After the loan is closed, your bank will give back all your original property papers mentioning that the property is free from amortization and you’re now the official owner of that property.
Home Loan at times seem like a headache and thus if you have money, it is better to clear the loan as soon as possible. I had taken a home loan and was supposed to pay for 4 years but I opted for prepayment and within 3years 2months, I was able to clear the home loan. If you want to pay the entire amount that needs to be paid entirely, just follow the steps as mentioned by Mr. Sarthak. But if you want to know how to do HDFC home loan partial payment online, then you can use the Internet Banking facility or online payment and pay it. Conditions for a salaried applicant in respect of personal loanMy uncle had availed HDFC Home Loan and as far as I remember there is some criteria to do part payment in HDFC like, if a person is salaried, he can pre-pay HDFC personal loan only after 12 equated monthly instalments have been paid completely. How to repay HDFC home loan online via Paytm?Paytm is a widely used app that has made online payments super easy. You can use it for paying HDFC home loans as well. Just:
Go to the HDFC loan payment page after opening the Paytm app
Provide the Loan Account Number
Select the option Get Payable Amount
Check the amount and choose the method for paying the amount
There are various ways by which the prepayment of HDFC loan can be done. So let me share what they are:Increase your EMI amount:As Rashmi Ji said, just pay more money than the EMI via net banking or Paytm and prepay your loan to close it earlier than the mentioned ending dateSave interest by paying partlyPart payment of your HDFC home loan helps you to save interest on the loan as the principal amount decreasesForeclose your HDFC home loanForeclosing can also be done for hdfc prepayment home loan. It means that you pay the entire loan amount at once and close the loan. Of course there are some charges but it is bearable.Visit the official site of HDFC bank or click onhttps://netbanking.hdfcbank.com/netbanking/To make all the payments easily there.I hope the HDFC home loan online prepayment processes are clear to you now.Read More:What is HDFC home loan customer care email ID?How to transfer HDFC home loan to SBI?How to increase EMI of HDFC home loan?
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How to prepay HDFC home loan?
Nihaal
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September 14, 2021
2021-09-14T16:28:47+00:00 2023-09-21T14:59:57+00:00Comment
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Home Loan
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