# Paying off early, or moving banks: what HDFC charges

> Settling an HDFC home loan early costs 2% of the balance; moving it to another lender costs 5%. On HDFC Amna's Islamic financing the lock-in fee is up to MVR 500,000, with a rebate. What each means, and what to ask.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/hdfc-paying-off-early-or-moving-banks
Published: 2026-10-18T07:36:44.603Z · Updated: 2026-10-18T07:36:44.603Z · Event date: 2026-10-18

## Conventional loans

From Housing Development Finance Corporation (HDFC)'s January 2026 schedule:
- **Early settlement: 2%** of the balance. Paying off MVR 1.5 million costs **MVR 30,000**.
- **External refinancing: 5%** of the balance, if you move the loan to another lender. On MVR 1.5 million, **MVR 75,000**.

HDFC charges more to leave for a competitor than to settle with your own money.

## HDFC Amna (Islamic)

- **Early settlement (lock-in fee):** *"up to MVR 500,000"* flat, with HDFC Amna's **rebate policy**, *"benchmarked to prevailing market rates"*.
- **External refinancing:** 2% to 5% of the balance.

Under Islamic financing the profit is often agreed for the whole term. The rebate decides how much of the unearned profit you get back. Ask for a **written settlement figure** before you decide.

## Refinancing within HDFC

HDFC's **Home Facility Top-Up** lets existing borrowers refinance at a lower rate than their current one, subject to an assessment. It is for HDFC customers only; HDFC lists no product for taking over another bank's loan.

## Compared with others

- **Maldives Islamic Bank:** 0.5% on part payments.
- **Maldives Finance and Leasing Company:** 10% of amounts repaid early.

HDFC's 2% sits between them.

*As published by HDFC on 18 October 2026. Rates and terms change; confirm them with HDFC before you commit. General information, not financial advice.*

## Sources
- hdfc.com.mv/api/resource-downloads/file/HDFC-ScheduleOfCharges-V3.1-Jan2026.pdf (HDFC Schedule of Charges v3.1, January 2026) (https://hdfc.com.mv/api/resource-downloads/file/HDFC-ScheduleOfCharges-V3.1-Jan2026.pdf (HDFC Schedule of Charges v3.1, January 2026))
- hdfc.com.mv/api/resource-downloads/file/Amna-ScheduleOfCharges-V1.1-Jan2026.pdf (HDFC Amna Schedule of Charges v1.1, January 2026) (https://hdfc.com.mv/api/resource-downloads/file/Amna-ScheduleOfCharges-V1.1-Jan2026.pdf (HDFC Amna Schedule of Charges v1.1, January 2026))
- hdfc.com.mv/api/resource-downloads/file/HDFC-Annual-Report-2025-Final-WebsiteCompressed.pdf (HDFC Annual Report 2025) (https://hdfc.com.mv/api/resource-downloads/file/HDFC-Annual-Report-2025-Final-WebsiteCompressed.pdf (HDFC Annual Report 2025))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.