HDFC Home Loan part prepayment

POSTED BY Ajit Singh ON April 22, 2013 2:35 am COMMENTS (15)

Hi, I’ve taken 40 Lacs home loan in July-2012 from HDFC bank and I’ve only loan account with HDFC bank but don’t have any saving account with HDFC. My EMI to this loan gets deposited from my AXIS bank account. Because of some reason, I would like to do part prepayment from ICICI bank account (My brother’s account) to HDFC home loan account. I have got HDFC LTD credit account/ifsc code from custmore care. I’m not sure if this is possible and right way to do part prepayment? Please let me know if anyone has any inputs or advise for me. Thanks!

15 replies on this article “HDFC Home Loan part prepayment”

  1. siva says:

    part payment accepted by bank for own contribution not from other if brother also banks not accepted

  2. VIKAS SRIVASTAVA says:

    hello can u tell me the merits of pre payment

    1. THe loan will close faster
      The Tenure will come down
      The loan eligibility will increase

  3. GANDHIMATHI says:

    Hi, I’ve taken home loan from HDFC bank and I’ve only loan account with HDFC bank but don’t have any saving account with HDFC. My EMI to this loan gets deposited from my Central bank bank account. Because of some reason, I would like to do part prepayment by DD or transfer amount from my central bank account netbanking. I’m not sure if this is possible and right way to do part prepayment? Please let me know if anyone has any inputs or advise for me. Thanks!

    1. Online prepayment incase of HDFC is little tough . Better go to their branch and pay by cheque !

  4. NareshG says:

    I would like to pre pay my loan in HDFC ltd.. Do they charge for this and do i have any limitations.
    My Loan ammount is 10Lakhs

    1. No , there wont be any prepayment charges for that

  5. Subrahmanyam says:

    Hi Ajit,

    I guess you have taken Home Loan on your NRI account. Btw, HDFC usually ask GPA to any of blood relatives for NRI Loans. Becoz I too recently took HDFC loan and they told me GPA is compulsory for NRI customers for Home Loans. Also they advised that prepayment cannot done online must need to pay via cheque from registered self bank account only. Or else GPA person can also from his account. Btw there are no prepayment penalty charges. There is no limit on amount to prepay. Please share your experiences once you findout the way.

    Best Regards,
    Manyam

    1. GaurangThakkar says:

      I have taken 15 lakhs loan agains property and now customer care is telling me that, I can only 25% of out standing principal amount once in any financial year. I can not pay more, and is only possible if my branch approve that. Also it will have penalty for the same.
      This look unethical to me. what is wront if , I have some money and want to get rid of burden of interest?

  6. Prithysh Nandy says:

    Hello Ajit,

    Can you please share me how you received HDFC bank credit account and IFSC code? I this a fixed account no. for all the customer? As per my knowledge they do not allow NEFT transaction for part payment.

    Can you please elaborate on the same?

    Thanks in advance.

  7. Ajit Singh says:

    Thank you Ashal and Nishant for your responses. Let me have a talk to HDFC C’Care and get info whether his account check will work else DD should be another option in my case. Thanks a lot again!

  8. Dear Ajit, for this given situation, you may send your rbother or any other person on your behalf to deposit the cheque to HDFC against your home loan. For better understanding, please contact customer care of HDFC.

    I have done it for one of my friend when he was out of India (like you) so I know it’s possible but in his case the cheque of his account was with me. In your case, as you want to transfer online, please consult HDFC C’care.

    Thanks

    Ashal

  9. Ajit Singh says:

    Thank you Ashal for response. The main issue is…I’m not able to use my account for online transaction since I’m in US right now and my registered cell to that account is out of service. Even I won’t to able to visit to local HDFC branch because of the same reason. So considering my situation, please suggest if there is any way I can do online part prepayment? Thank you again!

    1. Nishant Sahay says:

      Hi Ajit,

      You can make part payment for the home loan wither through a cheque or through a Demand Draft. You will, of course, have to bear some charges for the second option.

      Your friend/brother can get the DD made and submit it on your behalf.

      Regards,
      Nishant

  10. Dear Ajit, first transfer the amount from your brother’s account to your own account & then visit locql HDFC Branch to pay the amount through your own account’s cheque.

    Thanks

    Ashal

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