Thursday, October 20, 2011

NHB wakes up, finally!

NHB, in its latest circular, has ordered that no HFC (housing finance company) should charge any prepayment penalty, that too in any case, for floating loan customers. 

I am sure this move will be welcomed by lakhs of home loan customers. 

I have a loan with HDFC and the current ROI is 11.50%. If everything goes well, I will soon initiate a process and shift my home loan to a competent HFC or preferably a bank (because of the Base Rate system). 

I appeal all of you who have been suffering and ruing their decisions of availing the home loans from their respective HFCs. 

Do not forget to post your experiences and the process of the switchover to the new lender. 


  1. Can you please suggest some/any good HFCs to go for?

  2. Go for a bank preferably private banks. Most likely you will get good service. regarding rate of interest, now all banks will offer similar rates.

  3. Let us know your experience once you transfer the loan. Not sure HFC accepts these rules?