Home Loan Prepayment Charges

- No prepayment fees shall be payable for partial or full pre-payments.

• - No prepayment fees shall be payable once the loan has been converted into Floating Interest loan post the expiry of the Fixed Interest Rate period.

• - No prepayment/ foreclosure fees applicable if the loan is foreclosed by the borrower out of their own sources (i.e. any source other than by borrowing from a bank/ HFC/ NBFC and/or any financial institution).

• - Any partial or full pre-payment during the Fixed Interest Rate period of the loan will attract pre-payment fees of 2% of the amount prepaid. 

- No prepayment/ foreclosure fees applicable if the loan is foreclosed by the borrower out of their own sources (i.e. any source other than by borrowing from a bank/ HFC/ NBFC and/or any financial institution).
-Nil prepayment fees applicable for all payments up to 25% of the principal outstanding (POS) inclusive of all prepayments made within preceding 12 months.
-Where prepayment amount exceeds 25% of principal outstanding (POS), inclusive of all prepayments made within preceding 12 months, then the amount prepaid in excess of 25% of POS will attract pre-payment fees as applicable.
-Prepayment/ Foreclosure fees applicable on foreclosure payments shall be inclusive of all prepayments made within preceding 12 months.
-Prepayment / Foreclosure fees of 2% applicable; unless otherwise specifically mentioned in the borrowers’ loan agreement.

There is no lock-in period for prepayment.

   Applicable taxes shall be levied on the pre-payment / foreclosure fees, as stipulated by the authorities, from time to time.

- No prepayment fees shall be payable for partial or full pre-payments.