Want to do full prepayment of home loan before full amont disbursement

POSTED BY yogeshpal ON May 12, 2014 3:02 pm COMMENTS (3)

i have taken home loan by lichfl of Rs 5 lakh but till now 4.5 lakh disbursed. Now i want to prepay the 4.5 lakh to lichfl & want to close loan. the amount 4.5 lakh (65% recieve from relative+ 35% my own).

plz share what charges i hav to pay to lichfl?

Details of my loan as follows:-

date of loan sanction 15/01/14

date of first disbursment 26/02/14

EMI paid  on 10/05/14

Only one EMI paid till now.



3 replies on this article “Want to do full prepayment of home loan before full amont disbursement”

  1. ashalanshu says:

    Dear Raja, a word of caution. LIC HFC is not under RBI. It’s being HFC is controlled by National Housing Bank. So RBI’s rulings, orders are not applicable on LIC HFC, HDFC, Dewan housing, Grus Finance etc.



  2. Raja says:

    RBI has abolished any kind of prepayment or foreclosure charges on floating interest rate loans. Get the foreclosure report from LICHFL and just pay off whatever principal amount is outstanding.


  3. ashalanshu says:

    Dear Yogesh, please contact LICHFC for loan closure. It ‘ll generate a loan closure report along with any extra money to be paid by you.



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