I am taking housing loan from LIC HFL on Mar 2011 with 5 years fixed ROI & then floating for 15 years. I want to switch my loan to other PSU bank due to lower ROI offer. I want to know that “Shall i eligible for waiver of prepayment charge to switch loan as per RBI & NHB announcement”. Please guide.
LICHF has mentioned(on floating rate) that loan could be prepaid only after six months from the date of disbursement. I wish to prepay before expiry of six months. Can I do it without penalty as per govt. rules in force or am I required to follow as prescribed by LICHF.
