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Home > Home Loans for NRI's  > NRI Home Loans – Prepayment Charges

NRI (Non Resident Indian) Home Loans
PART PREPAYMENT CHARGES:

ADJUSTABLE RATE HOME LOAN [ARHL]/ DUAL RATE HOME LOAN [DRHL]

For prepayments made within the first 3 years from the date of first disbursements , no prepayment charges will be payable for prepayments of upto 25% of the opening balance in any given financial year. For any amounts prepaid in excess thereof , prepayment charges of upto 2% calculated on the excess amount being so prepaid shall be payable .

FIXED RATE HOME LOAN [FRHL]

No prepayment charge shall be payable for part prepayment of upto 25% of the opening balance of the loan in any given financial year. For any amounts prepaid in excess thereof shall bear a prepayment charge of upto 2% of the amounts being so prepaid.

PRE CLOSURE / FULL PREPAYMENTCHARGES :

There shall be no incidence of Prepayment charges in the event a loan is preclosed (prepaid) in full out of own sources of the borrower.

Any prepayment from sources other than own sources (*) shall be subject to a prepayment charge of 2% of the outstanding amounts being so prepaid (such amounts shall include all amounts prepaid during the given financial year).

You shall be required to submit copies of your Bank Statements or any other documents that HDFC deems necessary to ascertain the source of prepayment.

(*) The following is an indicative list of sources other than own sources.

Sources other than Borrowers' own sources would include:

  1. Loans availed from various sources such as from employer, refinance facility, HDFC, other financial institutions for other purposes (whether or not linked to any security, including of mortgage of the property financed), relatives, friends or family members who are not co-borrowers.
  2. Payment from Sale of property financed either directly or through internal adjustment of another customer's loan.
  3. Third Party cheques
  4. Surrender of property to developer

Please note that the list as above is indicative only and not as such exhaustive in nature and for details kindly contact the nearest HDFC branch.

Further, all cases of multiple payments during a given financial year leading to preclosure of loan shall be subject to pre closure charges.