Home   >>    Investment   >>    Home

As per the new RBI guidelines banks cannot levy a penalty for fore closure of Personal loans. Is this correct?

Pre-payment penalties exist worldwide and are unlikely to be withdrawn fully from India either.

05 Dec 2008

It is a misconception that pre-payment penalty will be waived off. No legal decision has been taken in this regard. Pre-payment penalties exist worldwide and are unlikely to be withdrawn fully from India either.



44.58 Lakh satisfied customers till Sep 2016
Get Loan Offers
Instant Home Loan Offers Instant Car Loan Offers Instant Personal Loan Offers
     
Instant Loan against Property Offers Instant Education Loan Offers Instant Credit Card Offers
Get Insurance Proposals
Instant Life Insurance Offers Instant Health Insurance Offers Instant Car Insurance Offers