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Loan Prepayment Charges Removal
July 9 , 2025
16 hrs 0 min
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- RBI has issued new rules to stop prepayment charges on business loans.
- The rules apply to floating-rate loans for individuals and small businesses (MSEs).
- The changes will be effective from January 1, 2026.
- Banks and NBFCs can no longer charge fees if loans are closed early.
- Earlier, only non-business personal loans had no prepayment penalties.
- It covers banks, NBFCs, and large urban co-operative banks.
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