Prepayment Penalty on Plot lOan

POSTED BY Manan Bajoria ON December 28, 2011 12:03 am ONE COMMENT

I have taken a plot loan from HDFC. I want to prepay the loan but HDFC people told me that prepayment is waived only for home loans and not for plot loans. Is it true ?

One reply on this article “Prepayment Penalty on Plot lOan”

  1. Dear Manan, If your bank/financial institution (HDFC in this case) is treating plot loan as a different type of loan, you can’t do anything. Except the offer & be happy for the fact that after closing the loan you ‘ll be able to save a good part on the interest payment for that loan.

    Thanks

    Ashal

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