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Reserve Bank Bans Foreclosure Fees on Floating Rate Personal, Small Biz Loans
The Morning Standard
|July 04, 2025
AFTER banning penal charges for foreclosing/pre-payment penalties on mortgage loans a few years back, the Reserve Bank has barred all lenders from levying such charges on floating rate loans granted to micro and small enterprises.
The regulator has also debarred any lenders from penalising personal loan borrowers if the credit is on floating rates.
In a latest circular, the regulator said the new regulations will be applicable for all such loans sanctioned or renewed after January 1, 2026.
Cette histoire est tirée de l'édition July 04, 2025 de The Morning Standard.
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