POSTED BY June 28, 2012 7:57 pm ONE COMMENTON
As per the recent RBI guidelines the Prepayment Charges have been abolished for Home Loans. I have got a floating rate Loan Against Property (LAP) from HDFC Bank. I called/emailed HDFC and they told me that the Prepayment Charges does apply for Loan Against Property. It has been waivered only for Home Loans. Can someone please clarify and let me know if this is correct.