Below are the Foreclosure charges applicable only for accounts opened on or after February 1, 2019.
- Closure within 24 months of account opening: 4% of the principal outstanding
- Closure between 25–36 months: 3% of the principal outstanding
- Closure after 36 months: 2% of the principal outstanding
Note: GST will be applicable on the foreclosure charges.
For Micro and Small Enterprises (MSE) customers, no prepayment charges are applicable if the loan amount is up to INR 50 lakhs under fixed-rate loans.
Business Loans
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