Paying extra EMI towards your HDFC home loan can help reduce the principal amount, shortening your loan tenure. I’ve shared the steps on how to pay extra EMI for home loan HDFC effectively. However, remember that the borrower will have the option to prepay up to 25% of the loan's opening principal amount each financial year after the first six months have passed, with no prepayment penalties. Prepayment penalties equal to 2% of the total amount prepaid beyond the 25% threshold will be applied to any amounts exceeding that threshold each fiscal year.
What are the Steps of HDFC Home Loan Extra EMI Payment?
Online Payment via HDFC Net Banking: Access your HDFC net banking account by visiting the
HDFC Bank website
or using the mobile app. Go to the ‘Loans’ section and select your home loan account.Look for the ‘Prepayment’ or ‘Extra EMI Payment’ option. Specify the amount you want to pay as an extra EMI. Confirm the payment details and complete the transaction.
Through HDFC Mobile App: Open the HDFC mobile banking app on your smartphone. Enter your credentials to log in. Navigate to the ‘Loans’ section and select your home loan. Choose the option to make a prepayment or an additional EMI payment. Enter the amount and confirm the transaction.
In-Person at HDFC Branch: Go to your nearest HDFC Bank branch. Request a prepayment form from the bank officer. Fill out the form with the amount you wish to pay as extra EMI and submit it along with the payment. Ensure you get a receipt for the transaction.
This is how to pay extra EMI for home loan HDFC.
Get a Home Loan at Lowest Interest Rates Via NoBroker Home Loan ServicesRead more
What Is EMI Payment: Down Payment In EMI?
Authors Of The Question
How to Pay Extra EMI for Home Loan HDFC?
Riya
9Views
6 days
2024-09-12T23:18:57+00:00 2024-09-12T23:18:58+00:00Comment
1 Answers
Share