I visited the IIFL bank physically to learn about the IIFL home loan foreclosure charges. An official helped me understand that it depends on the two primary sources of funding: sources of own funds and balance transfers. I can explain it easily to you here.
What are the IIFL Foreclosure Charges for Home Loan?
The IIFL foreclosure charges for a home loan during floating ROI period are as follows:
| Main Applicant | According to ROI | Foreclosure Charges (Full Prepayment/Loan Foreclosure) |
Individuals |
Variable (repayment from any source of funds) |
N/A |
For non-individuals, the rates vary. Here is another list that can guide you through their charges for IIFL home loan foreclosure.
| Main Applicant | According to ROI | Foreclosure Charges (Full Prepayment/Loan Foreclosure) |
Non-Individuals (loan availed only by the company) |
Variable (repayment from any source of funds) |
Within 12 months of the first disbursement - 5% of prepaid amount plus taxes After 12 months for fixed-rate period - 3% of the prepaid amount + taxes |
For fixed ROI overtime, these charges differ. You can visit the
official IIFL home loan
website to check the charges or visit an IIFL branch and ask an official about it. I hope these lists were helpful.
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What is IIFL Home Loan Foreclosure Charges?
Nargis
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2024-05-15T08:53:24+00:00 2024-08-06T15:05:11+00:00Comment
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