I have a Home Loan with HDFC Ltd on a new flat in Pune for the last year and half. Due to unforeseen circumstances, I will have to make a cancellation deed for the property and close the Home loan as well.
Can someone help me with the following:
- Will there be any prepayment charges for closure of loan?
- For any regular prepayments, HDFC charges a simple interest on the principle. However, in case of a cancellation deed, I will be getting refund of the flat charges from the Builder which I will be using to close the loan. Will they ask me to pay simple interest on that amount even if I have not earned any interest on it (because it was not in my account)?
Thanking in advance to all of you.
