How can I repay my HDFC loan?

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How to Make HDFC Loan Payment Online at Paytm?

  1. Go to HDFC loan payment page on Paytm.
  2. Enter your Loan Account Number.
  3. Click on ‘Get Payable Amount’
  4. Check the payable amount and choose the payment method of your preference Proceed to make the payment.
  5. You are done with it.

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One may also ask, can HDFC personal loan repay early?

You may also repay your HDFC Personal Loan early after a certain period. You will have to pre-pay your loan in full. The bank does not allow anybody to pre-pay the loan in parts. The loan processing fee is up to 2.50% of your loan amount with a maximum of Rs.

Also know, can I pay EMI before due date? Yes, you can pre-pay the loan amount at any time in full or part without any additional charges. Please ensure EMIs are paid on time and pay only additional payment above EMI if your ECS mandate is active when you are paying close to the due date.

Beside above, can I pay my EMI at once?

Whether you have taken a personal loan, home loan, car loan, or any other loan product from HDFC, the bank allows you to repay the remaining EMIs at one go. … Repaying all EMIs at once is known as pre-closing the loan account.

Can I prepay my personal loan?

Borrowers may be allowed to foreclose or prepay their loan 6 months after the date it has been disbursed, without any prepayment penalty. A charge of 2.5% + GST will be levied on any prepayment amount that is over 25% of the principal due. Part prepayment can only be done once in a year.

10 Related Question Answers Found

Can personal loan be pre closed?

In most cases, the borrower can opt for a personal loan pre-closure after a year or payment of a minimum of 12 EMIs. When foreclosing the loan, the borrower will have to pay the EMI of the current month, any outstanding dues if there, are and the foreclosure fees.

How can I cancel my HDFC personal loan?

What to do:

  1. Visit bank with the complete set of documents (as mentioned above).
  2. You may be required to fill a form or write a letter requesting pre-closure of the Personal Loan account.
  3. Pay the pre-closure amount.
  4. Sign the required documents, if any.
  5. Take acknowledgement of the balance amount you have paid.

How can I foreclose my HDFC loan online?

No, you cannot close the personal loans online for HDFC Bank. Individuals are required to visit the HDFC Bank Branch to close the personal loan.

How can I stop HDFC EMI?

Call the bank at 022-50042333 or 022-50042211 from your registered mobile number. Fill out the loan moratorium form on the official website of HDFC Bank to submit your request. The application process requires you to provide key details such as: Bank registered mobile number.

Is EMI paid in advance HDFC?

Quick approval, up to 100% financing, low EMIs and interest options, all combine to give you a pleasant, hassle-free experience. So go ahead, add some luxury to your life without straining your finances. With an HDFC Bank loan it’s that simple! To get more clarity on loan prepayments, click here.

Is it good to close personal loan early?

Firstly, if the prepayment in full can be done relatively early into the tenure of the loan, a customer tends to save a lot on the interest. A personal loan generally has a lock in of about one year after which the entire outstanding amount can be prepaid. … At the end of the first year the customer would have paid Rs.

Is prepayment allowed in HDFC personal loan?

If you have taken a personal loan from HDFC Bank, the bank will allow you to make prepayment or pre-closure ahead of the tenure. The bank has a lock in period of one year within which you can neither pre-close your account nor make prepayments.

What happens if I repay my loan early?

However, some lenders may charge a prepayment penalty fee for paying the loan off early. The prepayment penalty might be calculated as a percentage of your loan balance, or as an amount that reflects how much the lender would lose in interest if you repay the balance before the end of the loan term.

What is a loan repayment?

Repayment is the act of paying back money borrowed from a lender. Repayment terms on a loan are detailed in the loan’s agreement which also includes the contracted interest rate. Federal student loans and mortgages are among the most common types of loans individuals end up repaying.

What to do after loan is paid off?

After completing the repayment of your car loan, there are five important things that you need to do as we explain below:

  1. Take final payment receipt. …
  2. Take a No Objection Certificate. …
  3. Get your repayment statement. …
  4. Remove hypothecation. …
  5. Update your car insurance policy.

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