NBFC not levy pre payments on floating rate term loans : RBI
By Joseph Samson
Jul 15, 2014
Print    Email    RSS   

Non- banking financial companies (NBFC) have been instructed by RBI not to charge pre-payment penalties on floating rate term loans, including housing loans. 2 months earlier RBI has also asked the Banks for the same, now RBI has instructed the NBFC to follow the same.

RBI stated that in order to bring the consistency with regard to prepayment of various loans by borrowers of banks and NBFCs, the RBI has asked the NBFC not charge the pre payments on floating rate term loans. The floating term loans include housing, corporate, vehicle and personal loans. This measure will also assist in enhancing the customer protection.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Bank loans that could glitter for you
If the interest rate is same, how do you...
Bankers concerned on RBI loan recovery...
Paying back home loans: Which repayment...
Financial Review: A must for every individual

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive