I want to transfer home loan taken from LICHF in dual rate scheme to SBI. Loan started from Nov.
I have opted the following scheme.
1) First 3 years fixed 10.7% interest.
2) from 4th year till end floating rate.
In the loan outstanding statement it has been mentioned that I need to pay 2% of existing loan amount as "pre closure amount". I have submitted all the attached circular to LICHF agent but still LICHF stated that I have to pay 2% of existing loan because it is not from my own source.
Loan is going to transfer from LICHF to SBI. Since it need to consider as own source. Loan which is transferred to SBI, I only need to pay it.
if I transfer the loan from fixed to floating rate even then 2% pre closure is applicable stated by LICHF.
RBI and the National Housing Bank banned pre-payment penalties on the dual rate loans. But still I have been charged by LICHF.
I have requested the statement on 5-Nov. Requesting you to help in this context. Please let me know what steps I need to take to avoid "pre closure amount" penalty.
I have submitted below scanned document.
• Sanction Letter
• Outstanding statement
• National Housing Bank Circular no: NHB (ND)/DRS/POL-No. 36 / 2010
• National Housing Bank Circular no: NHB (ND)/DRS/POL-No. 43 / 2012
• National Housing Bank Circular no: NHB (ND)/DRS/POL-No. 48 / 2012
• National Housing Bank Circular no: NHB (ND)/DRS/POL-No. 51 / 2013
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