What are the conditions for full foreclosure of an IDBI loan against property?
You can pay the entire loan amount before the tenure only if: l Your loan is at a floating rate of interest. If it is at a fixed rate of interest, you will not be able to prepay your loan against the property. It is important to note that a majority of loans that are taken against property are taken at floating rates of interest. l The loan is not in the name of a company, partnership, AOP, or firm