US EditionRBI Prepayment Charges! This decision of RBI will put a stop to the arbitrariness of banks, big relief to loan takers - Business League
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Providing relief to borrowers, the Reserve Bank of India (RBI) has decided to abolish pre-payment charges on floating rate loans. This charge was levied on partial or full repayment of the loan before the due date. The new rule will come into effect from January 1, 2026. This will be mandatory for all banks and regulated institutions, including non-banking finance companies (NBFCs). This will directly benefit crores of borrowers, especially home…
RBI Prepayment Charges! This decision of RBI will put a stop to the arbitrariness of banks, big relief to loan takers - Business League
RBI Prepayment Charges: The Reserve Bank of India has given great news to the customers taking loans. Now no pre-payment charge will be levied on the floating rate loan approved on or after January 1, 2026 for repayment before time. That is, this decision of the Central Bank will come into effect from January 1, 2026. RBI Prepayment Charges: The country’s central bank i.e. Reserve Bank of India (RBI) has given a big relief to the people taking l…
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