Central bank governor’s announcement to cover floating rate term loans sanctioned to individual borrowers for non-business purposes.

Personal loan can be availed for any reason including any purpose like vocational courses, home renovation, medical emergency, or to travel...

Unlike a home loan or auto loan, which must be utilised for the reason for which you borrow the money, a personal loan has no restrictions ...

Small finance banks and local area banks will also have to follow this advisory.

Foreclosure charges are part of the fee income for any lender and adds to its bottomline.

To foreclose an existing home loan and to be debt free you need to keep the required documents handy and follow these steps.

To foreclose the loan, the lender had sought foreclosure penalty which was alleged to be arbitrary, unreasonable and anti-competitive.

The latest decision has brought uniformity in the market as both banks and non-banks are on the same page with regard to prepayment of floa...

RBI said banks should consider allowing their borrowers the facility of prepaying floating rate term loans without any penalty in the inter...

The Reserve Bank today asked Regional Rural Banks (RRBs) to stop charging penalty on pre-payment of home loans taken on floating interest r...

In a relief to borrowers, the RBI today asked banks to immediately stop charging penalty on pre-payment of home loans taken on floating int...

Removal of prepayment penalty on home loans will lead to reduction in the discrimination between existing and new borrowers.

The Reserve Bank of India has expressed its displeasure with a section of banks levying high prepayment penalty on foreclosure of housing l...

The Reserve Bank of India may ask banks to ease foreclosure burden if borrowers are willing to prepay loan.

The levy of a penalty by banks and housing finance companies for foreclosure of home loans does not amount to abuse of dominant position, t...

Competition watchdog ruled that banks and housing finance companies were not violating competition laws by charging the penalty.

Charges disadvantage those wanting to pay off a loan or move to one offering better terms. Proper loan tenure | Tax deduction on home loan ...