For prepayments made within the first 3 years from the date of first disbursements , no prepayment charges will be payable for prepayments of upto 25% of the opening balance in any given financial year. For any amounts prepaid in excess thereof , prepayment charges of upto 2.00 % calculated on the excess amount being so prepaid shall be payable.
There shall be no incidence of Prepayment charges in the event a loan is preclosed (prepaid) in full out of own sources of the borrower.
Any prepayment from sources other than own sources (*) shall be subject to a prepayment charge of 2.00% of the outstanding amounts being so prepaid (such amounts shall include all amounts prepaid during the given financial year).
You shall be required to submit copies of your Bank Statements or any other documents that HDFC deems necessary to ascertain the source of prepayment.
(*) The following is an indicative list of sources other than own sources.
Sources other than Borrowers' own sources would include:
Please note that the list as above is indicative only and not as such exhaustive in nature and for details kindly contact the nearest HDFC branch.
Further, all cases of multiple payments during a given financial year leading to preclosure of loan shall be subject to pre closure charges.