LIC HF partial pre payment of housing loan

POSTED BY kumar7 ON October 18, 2013 2:04 pm COMMENTS (3)

Hi,

I took housing loan from LIC fixed for 5 years then floating. When I went to prepay partial amount they have charged 2% on outstanding amount march 2013.

I heard the pre payment charges policy is changed. Please help on this. I am looking to close the housing loan. advice please

Thanks,
Kumar

3 replies on this article “LIC HF partial pre payment of housing loan”

  1. ashalanshu says:

    Dear Kumar, please name the policy you are referring to.

    thanks

    Ashal

  2. kumar7 says:

    Thanks for the information. I took LIC policy(at 16000 premium/year) for the sake of this home loan, do I need to pay this LIC policy even after the complete payment of home loan? Can I withdraw this amount?. I will be able to repay whole amount this year end. Please Advice

  3. ashalanshu says:

    Dear Kumar, as your loan was not a floating lona, you are charged pre pmt. penalty.

    Thanks

    Ashal

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