Norms cover biz loans of individuals, MSMEs: RBI proposes zero foreclosure fee
- Posted on February 21, 2025
- By Financial Express
- 1 Views
Norms cover biz loans of individuals, MSMEs: RBI proposes zero foreclosure fee
The RBI's draft guidelines propose removing prepayment penalties on floating-rate loans for retail and MSME borrowers, offering more flexibility to switch lenders or prepay without penalties, currently at 4-5% for personal loans.
