The charges shall be governed by detailed T&C signed by you.
You are within your rights to obtain certified copies of:
· letter of offer
· copy of filled in loan application
· copy of loan agreement
· terms and conditions governing the housing loan
· other documents such as schedule of fees and charges
You may go thru a very interesting publication at:
https://www.moneylife.in/article/improving-us-market-conditions-and-the-housing-boom/26145.html
“ National Housing Bank (NHB), which controls over 54 housing finance companies in the country has stolen a march over the RBI by announcing waiver of pre-payment penalty as early as on 19 October 2011 and it has been more generous enough to extend this benefit to all the borrowers availing home loans on both fixed and floating rate basis.
NHB has directed that pre-payment penalty on pre-closure of home loans should not be charged under following circumstances:
1. Where the home loan is on floating interest rate basis-pre-closure through any source.
2. Where the home loan is on fixed interest rate basis-pre-closure through own source. The expression "own source" for this purpose means any source other than by borrowing from a bank/HFC/NBFC and or a financial institution.”
If this HFC is under NHB and your grievance has not been resolved by the HFC, you can lodge your grievance with NHB:
https://www.nhb.org.in
