HDFC Home Loan
Preclosure Penalty for DRHL

I had taken a HDFC DRHL loan two years back. After 8.25% fixed rate for first two years, the interest is increasing is going to be floating around 12.5%. So I decided to switch to a different bank who is offering with a very lower interest rate. But for preclosing this loan, HDFC is charging 2% on the prinicipal amount. i read somewhere that NHB has guideline that for floating interest loans, there should not be any penalty amount for preclosures even if you switch to a different carrier. But HDFC is still charging me 2% even though it's floating for me now. Can someone help me on this?

Company: HDFC Home Loan
Country: India
State: Orissa
City: Khordha

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