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Tag: rbi

Prepayment penalty for floating interest home loans should end: RBI

Poornima

September 11, 2011

In a major relief to home buyers, RBI has asked banks not to impose prepayment penalties on floating interest home loans irrespective of the source of funds. RBI has rightly pointed out that floating rate loans pass on the interest rate risk from the banks to borrowers. Thus, banks only substitute interest rate risk with… Continue Reading

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