Prepayment Charges of Home Loan | Fixed and Floating Home Loans Rates - Indiabulls Housing Finance Limited
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Prepayment Charges for Home Loans

Prepayment Charges

  • Home Loans ( Including Plot Loans )
Individual (all borrowers / co-borrowers are Individuals)
Floating Rate Loans
  • No charges for prepayment of home loan fees shall be payable for partial or full pre-payments irrespective of the source.
Fixed n Floating (Dual Rate) Loans
  • No charges for prepayment of home loan fees shall be payable for partial or full pre-payments irrespective of the source once the loan has been converted into Floating Interest loan post the expiry of the Fixed Interest Rate period.
  • No charges for prepayment of home loan fees shall be payable for partial or full pre-payments during the Fixed Interest Rate period of the loan where the loan is pre-closed from own sources. However, for any such partial or full prepayment from other than own sources during the Fixed Interest Rate period of the loan will attract prepayment fees of 2% of the amount prepaid.

The expression "own sources" for this purpose would imply any source other than by borrowing from a Bank / HFC / NBFC and / or any Financial Institution.

Non-Individual: (i.e. one of the borrowers/co-borrowers is a Company, Firm, HUF, LLP, Trust, Society or a Proprietorship entity) :

 

Floating Rate Loans & Fixed n Floating (Dual Rate) Loans
  • No charges for prepayment of home loan 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 inclusive of all prepayments made within preceding 12 months.
  • Prepayment / Foreclosure fees of 2% applicable; unless specifically mentioned in the borrowers’ loan agreement.

Services Tax as applicable on pre-payment / foreclosure fees.

There is no lock-in period for prepayment of your any home loan fees with Indiabulls Home Loans. You can prepay your home loan in part or full from the very next day of your loan disbursal subject to charges as applicable.