TaxTMI 
TaxTMI 
Pre-Payment Penality on Home Loans.
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....re-Payment Penality on Home Loans. <br>News and Press Release<br>Dated:- 27-4-2012<br><BR>Press Information Bureau Government of India Ministry of Finance 27-April-2012 17:35 IST Pre-Payment Penal....
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....ity on Home Loans Reserve Bank of India (RBI) in its monetary policy, during 2012-13 has announced not to permit banks to levy foreclosure charges/pre-payment penalties on home loan on a floating int....
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....erest rate basis. Further, National Housing Bank (NHB) which regulates the Housing Finance Companies (HFCs) have advised them not to levy pre-payment charges on the borrowers where the housing loan i....
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....s on floating interest rate basis. Further, NHB has also advised the HFCs not to levy any pre-closure charges even where the housing loan is on fixed interest rate basis and the loan is pre-closed by ....
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....the borrowers out of his own sources. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. ***** DSM/SS/Hb<BR> ....
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....News - Press release - PIB....