"I have taken housing loan from HDFC limited, which is a HFC. According to recent RBI guideline, refinance penalty has been waived. Due to HDFC's high interest rates, I wanted to move my existing loan to some other institution and approched HDFC to provide their approval. But HDFC asked for prepayment penalty of 2% on outstanding amount.
My question to National Hosuing Board is - Is HDFC right in charging 2% refinance penalty after the recent RBI guideline?"