Whether Bank will charge penalty in case I receive Gift from relative for home loan Prepayment.
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Home loan prepayment out of gift from family
Replies (3)
You may pay penalty in prepayment of home loan depends on Terms and conditions as per agreement
Yes... The Prepayment penalty levied as per banks T&C. Also the loan transactions between You and Bank...
No more links between Your Relatives and Bank...
Any of the Money deposited in Your banks it will treat Yours...
No more links between Your Relatives and Bank...
Any of the Money deposited in Your banks it will treat Yours...
over last few years, several banks and HFCs have removed prepayment charges. However, if you replace the current loan by borrowing from another bank, they would charge prepayment charges. Prepayment through gift from family should ideally not attract such charges
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