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RBI directs banks, other lenders not to levy pre-payment charges on biz loans to individuals, MSEs

In terms of extant guidelines, banks and NBFCs are not permitted to levy foreclosure charges/pre-payment penalties on any floating rate term-loan sanctioned to individual borrowers with or without co-obligant(s) for purposes other than business.
Last Updated : 02 July 2025, 22:15 IST
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Published 02 July 2025, 22:15 IST

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