RBI lending directive: No more pre-payment charges; borrowers to get freedom from 2026
Thursday, 3 July 2025 () The Reserve Bank of India (RBI) has prohibited banks and other regulated lenders from charging prepayment fees on floating-rate loans taken by individuals for non-business purposes. Effective January 1, 2026, this directive aims to increase transparency and borrower flexibility. The new rules consolidate previous circulars and ensure clear disclosure of any applicable prepayment charges.
Thursday, 3 July 2025 ()
