r2i forum

I have couple of questions.

1) I took a plot loan while i was in India. Paying my monthly EMI through direct debit from my Savings Account in India. Now i am in US. Now i am sending money to the same account from here and it is automatically deducted my the HFC. Is this correct or is there any issue in doing this?

2) Other thing is, i am planning to do some prepayment(or part payment) of my loan from US. How can i do it? Is it possible for me to do a part payment from US?

I think there is nothing wrong with it. Check with your bank manager. Nowadays, Indian banks are also responding and corresponding through email.

For the prepayment, you can use the same route, $'s ->savings account . You can issue a dd or check from that account.

I had ordered a dd through my online ICICI NRO account and they delivered it directly to the accounts manager/loan officer. Made the DD out to HDFC Account ##########. Check with your manager aboout it.

alilai;22385I have couple of questions.

1) I took a plot loan while i was in India. Paying my monthly EMI through direct debit from my Savings Account in India. Now i am in US. Now i am sending money to the same account from here and it is automatically deducted my the HFC. Is this correct or is there any issue in doing this?

2) Other thing is, i am planning to do some prepayment(or part payment) of my loan from US. How can i do it? Is it possible for me to do a part payment from US?[/quote]

Thank you for your information. I will try the same.

You have to convert your savings account to NRO account, if it is not already done. Continuing payment using the same account is not an issue.

While you are in the US, try to pay off the loan as soon you can. If you are paying an EMI of Rs 30,000 every month, try to pay Rs 80,000 every month. You can use online transfers from SBI, ICICI, Citibank to transfer funds to your Indian savings account.

realentity;22701While you are in the US, try to pay off the loan as soon you can.

Why is that? Is it because the interest rate on INR is higher than USD?