Prepayment penalties can be negotiated

The RBI has shown its displeasure in past on prepayment charges and has been advising the banks against it. The prepayment penalty for public sector banks is about 1% or less, while it can be anywhere between 1% and 3% in private banks. According to source, banks do not charge any prepayment penalty if you […]

You can expect home loan rates to move up by at least one per cent in the coming months. It is always advisable to pre-pay your Home Loan, if you have extra cash available with you. According to source, the home loan rate is evaluated using reducing balance method and the interest rate is always […]