Transcript
![Page 1: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/1.jpg)
No fore-closure charges and pre-payment penalties for floating interest rate loans
taken by individual borrowers
![Page 2: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/2.jpg)
There is no fore-closure charges and pre-payment penalties for floating rate of interest for a loan taken from any type of Financial Institution; be it a Bank, Non-Banking Finance Company (NBFC) or Housing Finance Company (HFC)
Attached are circulars from the respective regulatory bodies clarifying the same.
![Page 3: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/3.jpg)
RBI prepayment letter
![Page 4: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/4.jpg)
RBI prepayment clarification
![Page 5: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/5.jpg)
NHB prepayment letter
![Page 6: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/6.jpg)
NHB prepayment clarification
![Page 7: No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers](https://reader035.vdocument.in/reader035/viewer/2022072017/56649efe5503460f94c1254a/html5/thumbnails/7.jpg)
Thank you
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