28th May 2018, 01:08 PM
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Prepayment fine under Education Loan scheme of HDFC Bank?

Hello everyone, I am searching for an education loan scheme. After searching I thought that applying an education loan from HDFC Bank is fine for me as I have an account in this bank. But I am unable to understand the prepayment fine. Can I know about this particular term?

29th May 2018, 08:54 AM
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Join Date: Feb 2016
Posts: 4,375
Default Re: Prepayment fine under Education Loan scheme of HDFC Bank?

Details of prepayment charges under education loan scheme of HDFC Bank are mentioned below :-

--> Up to 4% of outstanding balance prepaid in case of loan foreclosure or part-prepayment during the moratorium period.

--> No charges will be applied if loan is part prepaid or foreclosed post moratorium period.
30th May 2018, 10:31 PM
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Join Date: Jul 2013
Posts: 14,288
Default Re: Prepayment fine under Education Loan scheme of HDFC Bank?

Prepayment fine details under Education Loan Scheme of HDFC Bank are detailed below :-

1. Upto 4% of the Outstanding Balance prepaid, if loan is foreclosed/ part perpaid during Moratorium (along with and in addition to due/accrued interest, if any, and other amounts due and/or payable by the Borrower to the Bank).

2. No prepayment fine/ charges will be charged if loan is foreclosed / part prepaid any time after expiry of the Moratorium.
Do you have any question? or have anything to say?

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