Question: Dear Sir/Madam, I have taken a home loan from HDFC bank in scheme. Please let me know do I need to pay pre payment charges to the bank if I pay more then 25% of the outstanding principal amount for the financial year.
Answer: Banks usually charge pre-payment penalty for pre-closing a loan before the final date; the exact percent of penalty will be mentioned in the loan agreement. You can contact the branch for the same.
Expert @ InvestmentYogi