HDFC Personal Loan Pre-closure - Prepayment Charges, ProcedureHDFC Personal Loan Preclosure Charges and Benefits of ForeclosureHDFC Bank Personal Loan Pre-payment/pre-closureHDFC Personal Loan Pre-closure - Prepayment Charges, ProcedureWhen a borrower pays off his/her loan entirely or in part before the defined due date, it is termed as prepayment. When considering prepayment, borrowers need to ensure that they factor in the following aspects: Prepayment penalties Prepayment penalties vary from one financial institution to another, and often, even from loan to for the HDFC Personal Loan Pre-Closure or Pre-Payment Process. You will first have to get in touch with a bank representative from HDFC Bank and express your interest in pre-paying your HDFC Personal Loan. Next, you can make the pre-payment by releasing a cheque or a demand draft at any HDFC Bank Personal Loan Pre-Closure or Pre-Payment Fees and Charges If you are a salaried applicant, you can pre-pay your HDFC Personal Loan only after paying 12 equated monthly installments completely. The pre-payment charges for salaried applicants are as follows: 4% of the outstanding principal amount for 13 to 24 of the Education Loan disbursed by HDFC Credila constitutes any premature repayment of the principal ahead of term by the borrower/s in addition to the regular monthly payments. The borrowers shall be entitled for prepayment only after the expiry of a period of 6 (Six) months from the effective date of ;· Step-by-Step Process of Pre-closing HDFC Bank Personal Loan HDFC Bank does not usually allow complete pre-closure of a personal loan. It does, however, allow you to …- HDFC will only accept prepayment by cheques issued from the Borrower or Co-borrower’s bank account OR - Payment instruments issued by Banks and other Financial Institutions AND - HDFC reserves the right to reject instruments issued by Third Parties (other than those who are party of the loan)

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