Question:

Can I prepay the state Bank of India housing loan?

by Guest7824 | 12 years, 8 month(s) ago

I have taken house financing loan from State Bank of India. I want to know, Can I prepay the state Bank of India housing loan? Are there any penalties?

Tags: bank, Housing, India, Loan, Prepay

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Guest5355

Yes, you can prepay the loan at any stage. However closure of loan before completion of half of the loan tenure will attract a penalty of 2%. You can also credit more than your EMI amount into your loan account and bring down your interest burden as and w
Report (0) (0) | 12 years, 8 month(s) ago