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Real Estate Forum on Pre Payments Charges

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Q: Hi, the RBI is quite firm on scrapping the charges levied by banks on pre-payment of loans -discuss

Latest Answer: Hi, yes The Reserve Bank has passed order to banks to scrap penalty on pre-payment of all retail and small corporate loans and do away with fines for failure to maintain minimum balance. spokesperson said that since these loans are on floating rate of interest there is no justification of pre payment charges.
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