Hello, I have taken home loan from hdfc bank and I am really very unsatisfied with it. I did not know that the they don’t have a proper principal pre-payment process as other bank like SBI. The approach which is followed currently is requesting a link for payment and after 24 hours they will share you a link for the requested payment amount. The link gets expired in some time and you again have to request for sharing the link. The HDFC home loan app don’t give your outstanding amount. It don’t provide any proper information which will help give appropriate information.
When ask about the net banking they mention that it is going to happen in sometime as home loan and other accounts will get merge.
I feel it’s a strategy of the bank to not allow the user to do the prepayment earlier and not show the outstanding information so that user will keep on paying the interest.
I would strongly recommend new home loan borrower’s to not to consider hdfc as an option.
Regards,
Abhishek