HDFC Does not allow part payment of Loan via NEFT

POSTED BY finnaive ON May 15, 2013 1:30 pm ONE COMMENT

Dear All

I have a Home Loan running with HDFC. When I inuquired their customer care about paying lumsump via Online/NEFT, they said they do not allow it. I mentioned about the RBI mandate which came last year about banks allowing NEFT Tx for pre-payment or EMI, however they are firm on saying HDFC Does not allow it and there is no provision for it as well.

I know going to the bank branch, and paying any lumpsump, however NEFT mode would have been helpful.

Is the bank right in denying such option? If not, what are my options?

One reply on this article “HDFC Does not allow part payment of Loan via NEFT”

  1. Dear Finnaive, you missed the point HDFC is not a bank but a Housing Finance Company. So it can not receive the transfer via NEFT like SBI or ICICI or PNB or Axis can do.

    In case of pure banks, a dedicated account no. is given to you which is similar to a bank account no. & you can make payment directly to this account no. In case of loans from HFC like HDFC, LICHFC, Indiabulls, Dewan…..the loan account no. is merely for identification purpose & not your bank account no.



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