1. No fore-closure charges and pre-payment penalties for floating interest rate loans taken by individual borrowers

2. 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.

3. RBI prepayment letter

4. RBI prepayment clarification

5. NHB prepayment letter

6. NHB prepayment clarification

7. Thank you www.takebestloans.com Contact; 022 – 6990 4488