RBI Bans Pre-Payment Charges on Floating Rate Loans

  Published 1 year ago

RBI bars banks/NBFCs from pre-payment charges on floating rate loans for individuals and MSEs from 2026 to boost credit portability.

  • New norms apply to loans sanctioned or renewed on or after January 1, 2026.
  • The policy aims to improve credit mobility and ease for borrowers.
  • Excludes certain loan types, focusing on most floating-rate categories.

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