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Thread: Prepayment of Personal Loan in HDFC bank

  1. #1
    Shamimi2 Guest

    Default Prepayment of Personal Loan in HDFC bank

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    Hello,

    HDFC bank has a terms that we can't prepay or preclose the loan before 6 months from avail. But i have the amount and i need to preclose before 6 months. They are not agreeing to that and even i have agreed after paying 6 months interest upfront. Please advise i can take this issue legally.

  2. #2
    HDFC Bank Guest

    Default Response- Prepayment of Personal Loan in HDFC bank

    Quote Originally Posted by Shamimi2 View Post
    Hello,

    HDFC bank has a terms that we can't prepay or preclose the loan before 6 months from avail. But i have the amount and i need to preclose before 6 months. They are not agreeing to that and even i have agreed after paying 6 months interest upfront. Please advise i can take this issue legally.
    Dear Customer,

    As per the Bank’s policy, you can choose to repay your loan anytime after 6 months of availing it. Should you wish to pre- close your loan, you can do so after paying the applicable prepayment charges. We believe that this would have been informed to you at the time of your loan application.

    For further clarifications, request you to write in to us at talktous@hdfcbank.com with the reference id TTU00090018082010 mentioned in the subject line of your mail. A bank representative shall respond immediately.


    Regards, Customer Assistance, HDFC Bank

  3. #3
    Unregistered Guest

    Post HDFC BANK Personal Loan Preclosure

    HDFC Bank has increased the Preclosure minimum period to 12 months from 6 months. What is RBI doing? Is it working for the interest of Banks or the people of India?

  4. #4
    Unregistered Guest

    Default Pre-closure of personal loan

    Hi this is chan. on dec2010 i got personal loan for rs.50,000/- from Dec onwards i am paying my dues without any issues.... now i like to close my loan. is that possible or not.?

  5. #5
    vickyprince2 Guest

    Default HDFC bank prepayment option not available before 12 months from first EMI Date..

    As i took Personal loan from HDFC bank of Rs. 2.5 K. Now its been 3 already 3 EMI Paid and i want to Close my loan and agreed to pay all required charges. As i am going to take Home loan of approx 15 K. In case i wont prepay the personal loan i would not be eligible for 15K home loan. Only and only i have option that i have to pay personal loan before... Its request with HDFC bank.. Kindly allow me for prepay the personal loan and make me eligible for the 15K Home loan.. I would like to take Home loan from u only.. Waiting for ur Reply....Thanx...

  6. #6
    HDFC Bank is offline Senior Member
    Join Date
    Oct 2010
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    1,239

    Default

    Quote Originally Posted by vickyprince2 View Post
    As i took Personal loan from HDFC bank of Rs. 2.5 K. Now its been 3 already 3 EMI Paid and i want to Close my loan and agreed to pay all required charges. As i am going to take Home loan of approx 15 K. In case i wont prepay the personal loan i would not be eligible for 15K home loan. Only and only i have option that i have to pay personal loan before... Its request with HDFC bank.. Kindly allow me for prepay the personal loan and make me eligible for the 15K Home loan.. I would like to take Home loan from u only.. Waiting for ur Reply....Thanx...

    Dear customer,

    We request you to write to talktous@hdfcbank.com with your personal loan account number, contact details and the reference id TTU000321330052011. A bank representative shall contact you and guide you on the pre-payment process once we receive your mail.

    Regards, Customer Assistance, HDFC Bank

  7. #7
    Unregistered Guest

    Default Foreclose the personal loan

    As i took Personal loan from HDFC bank – 1 lakh & EMI start on 04 –10-2010 means – 9 EMI Paid + 1.5 lakh & EMI start on 04-08-2010 means 11 EMI Paid.Now I want to foreclose my personal loan and agreed to repay all the amount of personal loan with foreclosure charges and also other charges if there.

    I want to foreclose because as I am going to take home loan of approx 16 Lakhs but before avail HDFC home loan they would required the foreclosed certificate of personal loan.In case I wont prepay the personal loan and get the foreclosure certificate I am not eligible for home loan.So that is the reason I have to repay all the outstanding amount with foreclosure charges of personal loan.It is request to you please allow me to foreclose the personal loan before 12 months so that I will eligible to home loan from HDFC Bank.

  8. #8
    vbpsrr is offline Junior Member
    Join Date
    Jun 2011
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    2

    Default

    As i took Personal loan from HDFC bank – 1 lakh & EMI start on 04 –10-2010 means – 9 EMI Paid + 1.5 lakh & EMI start on 04-08-2010 means 11 EMI Paid.Now I want to foreclose my personal loan and agreed to repay all the amount of personal loan with foreclosure charges and also other charges if there.

    I want to foreclose because as I am going to take home loan of approx 16 Lakhs but before avail HDFC home loan they would required the foreclosed certificate of personal loan.In case I wont prepay the personal loan and get the foreclosure certificate I am not eligible for home loan.So that is the reason I have to repay all the outstanding amount with foreclosure charges of personal loan.It is request to you please allow me to foreclose the personal loan before 12 months so that I will eligible to home loan from HDFC Bank.

  9. #9
    bhu2507 is offline Junior Member
    Join Date
    Jun 2011
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    1

    Default

    I am Bhuvaneswari. My personal loan account number is 18874883. I have taken my PL on November 2010. Recently I have topup my loan on May 31, 2011. My first emi falls only coming month. But I want to close my PL as I am willing to avail home loan. I contacted customer care they are telling that since it is more than 15 days from my loan credit. I cant cancel my loan. I cant preclose the loan. Kindly help me in preclosure as I am willing to opt for home loan.

  10. #10
    HDFC Bank is offline Senior Member
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    Default

    Quote Originally Posted by bhu2507 View Post
    I am Bhuvaneswari. My personal loan account number is 18874883. I have taken my PL on November 2010. Recently I have topup my loan on May 31, 2011. My first emi falls only coming month. But I want to close my PL as I am willing to avail home loan. I contacted customer care they are telling that since it is more than 15 days from my loan credit. I cant cancel my loan. I cant preclose the loan. Kindly help me in preclosure as I am willing to opt for home loan.
    Dear customer,

    We request you to write to talktous@hdfcbank.com with your loan account details and Reference number TTU000335824062011. We will look into the matter and respond to you as soon as we receive the information.

    Regards, Customer Assistance, HDFC Bank

  11. #11
    dharan79 is offline Junior Member
    Join Date
    Jul 2011
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    1

    Default Foreclosure of HDFC loan

    Hi

    I have taken a personal loan during Sept 2010 and repaying the installements without fail. Now i have applied for Home loans amounting 12 lakhs. I was adviced that i need to foreclose the personal loan and then only i will be eligible for the home loan. But when i called to the bank they informed me that i can only foreclose after 12 month which is recent rule implemented in the HDFC bank.

    Please anyone advice how to close my personal immediately.


    Thanks
    DJ

  12. #12
    HDFC Bank is offline Senior Member
    Join Date
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    Default

    Quote Originally Posted by dharan79 View Post
    Hi

    I have taken a personal loan during Sept 2010 and repaying the installements without fail. Now i have applied for Home loans amounting 12 lakhs. I was adviced that i need to foreclose the personal loan and then only i will be eligible for the home loan. But when i called to the bank they informed me that i can only foreclose after 12 month which is recent rule implemented in the HDFC bank.

    Please anyone advice how to close my personal immediately.


    Thanks
    DJ
    Dear customer,

    We would like to stress that your concerns are important to us.
    Foreclosure in Personal Loan cannot be made within twelve months of
    disbursement and before payment of twelve equated monthly installments.

    Please refer to the Clause no. 12 available in the loan agreement available on the bank website

    http://www.hdfcbank.com/common/pdf/PL_Agreement.pdf

    Regards, Customer Assistance, HDFC Bank

  13. #13
    meenuaravind is offline Junior Member
    Join Date
    Sep 2011
    Posts
    1

    Default Interest Rate

    Sir ,i would like to pre close my personal loan from HDFC i completed 12 months of installment.So what is the interest percentage will be posted for my remaining Prinicipal amount.When i availed the loan they said the pre closure percentage was 4 %.Please confirm me the pre close interest percentage.

  14. #14
    KRSINGH Guest

    Default Prepayment of loan

    Sir i have a personal loan of 275000.emi have started from sep 2010 .i have payed 12 emi.i want to prepay the loan but bank is asking for prepayment amount of 7 %.bank had told that it would not ask for prepayment amount as i am having problen paying amount i want to prepay it kindly do the needful.

  15. #15
    KRSINGH Guest

    Default Prepayment of loan

    Sir i have a personal loan of 275000.emi have started from sep 2010 .i have payed 12 emi.i want to prepay the loan but bank is asking for prepayment amount of 7 %.bank had told that it would not ask for prepayment amount as i am having problen paying amount i want to prepay it kindly do the needful.MY LOAN ACCOUNT IS 16980993

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