Tuesday, May 15, 2012

RBI ABOLISHES FORECLOSURE FEE ON PREPAYMENT OF HOME LOAN

Home loan customers need no longer worry about transferring their loans from one bank to another.
In line with the recommendations of the Damodaran Committee on customer service in banks, the Reserve Bank of India (RBI) has abolished foreclosure charges, levied by banks on prepayment of home loans with floating interest rates.

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