Home Loan

The Core Rule No bank, NBFC, or housing finance company can charge prepayment or foreclosure penalties on floating-rate home loans taken by individual borrowers. This applies to partial prepayments, full foreclosures, and balance transfers — regardless of the funding source or co-borrowers. Enforced since 2012; comprehensively reinforced via the RBI (Pre-payment Charges on Loans) Directions, 2025, effective […]