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How can I close my HDB personal loan?
Visit the nearest HDB Financial branch. Carry necessary documents like identity proof, address proof and bank statements mentioning the final clearance of the last EMI. Once all the documents are successfully checked, the HDB Financial will give the acknowledgement letter and NOC.
Can we foreclose personal loan online?
Personal loans cannot be pre-closed online, therefore you are required to find the nearest bank branch, where you can pre-close your loan. You can call the bank’s customer care number to find the branch next to you.
How do I close a personal loan early?
What to do:
- Visit bank with the complete set of documents (as mentioned above).
- You may be required to fill a form or write a letter requesting pre-closure of the Personal Loan account.
- Pay the pre-closure amount.
- Sign the required documents, if any.
- Take acknowledgement of the balance amount you have paid.
Can I change my HDB loan to bank loan?
Yes, you can switch immediately to a bank loan as HDB concessionary loans do not have a lock-in period. There is also no penalty involved if you do so.
How do I find out my outstanding HDB loan amount?
For viewing the status and balance of your loan account, you should login to the website www.hdbfs.com and then select My Account. You must type in your mobile number which has been registered, PAN number, DOB and CAPCHA. Click on “send OTP” and once the OTP is entered, you will be able to see the balance available.
Can I prepay my personal loan?
Borrowers may be allowed to foreclose or prepay their loan 6 months after the date it has been disbursed, without any prepayment penalty. A charge of 2.5\% + GST will be levied on any prepayment amount that is over 25\% of the principal due. Part prepayment can only be done once in a year.
Can I close personal loan before 1 year?
Most banks and lenders refrain from letting you prepay or pre-close your personal loans. The bank has a lock in period of one year within which you can neither pre-close your account nor make prepayments. After the 12 month period you are free to do with your loan as you deem fit according to your income.
What is pre closure charges for personal loan?
Prepayment charges on salaried personal loans (part/full prepayment): Closed between 13-24 months – 4\% of principal due. Closed between 25-36 months – 3\% of principal due. Closed after 36 months – 2\% of principal due.
Can I switch from HDB loan to bank before key collection?
Why should you choose HDB Financial Services for personal loans?
Choosing HDB Financial Services for personal loans is wise because of the flexibility to opt for fixed rate of interest or floating rate of interest (applicable for long term loans). Minimum processing fee, no hidden charges and dual facility of either foreclosing or part paying of the loan amount make HDBFS an ideal option for personal loans.
Can I pre-pay my HDFC Bank personal loan?
Check your Eligibility! HDFC Bank enables a personal loan borrower to make a pre-closure or a pre-payment of loan. However, you will be able to prepay your HDFC Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable.
Can hdhdb personal loans be closed before maturity?
HDB Financial Services personal loans can be closed before maturity. Borrowers can also make part payments to decrease future equated monthly installments (EMI). In order to foreclose or part pay, the borrower must ensure that he has paid EMI for the first 6 months.
What are the benefits of foreclosing a HDFC Bank personal loan?
Given below are a few key benefits of foreclosing your HDFC Bank personal loan: Helps you save on the overall interest payout. Frees you from the burden of regular loan repayments. It enables you to save on the interest component. You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.