DEAR SIR/MADAM,
GREETING FOR THE DAY !
MONSOON BONANZA ! >>>>>>> ASSURED GIFT ON EVERY HOME LOAN
HOME LOAN, BALANCE TRANSFER, LOAN AGAINST PROPERTY
PNB/ICICI/ING
Aashray Realty Finance
Ghaziabad/Gurgaon/Noida
9560702220
9810460273
aashrayrf@gmail.com
Please find attachment
This is applicable only for floating rate.
Foreclosure charges are still applicable for Loan with fixed rate for initial period.
Manmohan Jha,09212313580,Sent from my BlackBerry® from Tata IndicomFrom: Mohd Aftab
Sender: CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in
Date: Thu, 21 Jun 2012 09:37:14 +0530To:
Subject: [CROMA] Home Loans-Levy of Fore-closure Charges / Pre-payment Penalty
Hi
RBI has directed all banks not to charge any prepayment penalty on home loans as per the following circular.
RBI/2011-12/604RPCD CO. RRB. BC. No.85/03.05.033/2011-12June 18, 2012All Regional Rural BanksDear Sir
Home Loans-Levy of Fore-closure Charges / Pre-payment PenaltyAttention is invited to paragraphs 81 to 83 of the Monetary Policy Statement 2012-13
announced on April 17, 2012 with regard to home loans on floating interest rates. TheCommittee on Customer Service in Banks (Chairman: M. Damodaran) had observed
that foreclosure charges levied by banks on prepayment of home loans are resentedupon by home loan borrowers across the board especially since banks were found to be
hesitant in passing on the benefits of lower interest rates to the existing borrowers in afalling interest rate scenario. As such, foreclosure charges are seen as a restrictive
practice deterring the borrowers from switching over to cheaper available source.2. The removal of foreclosure charges/prepayment penalty on home loans will lead to
reduction in the discrimination between existing and new borrowers and competitionamong banks will result in finer pricing of the floating rate home loans. Though many
banks have in the recent past voluntarily abolished pre-payment penalties on floatingrate home loans, there is a need to ensure uniformity across the banking system. It has,
therefore, been decided that Regional Rural Banks will not be permitted to chargeforeclosure charges/pre-payment penalties on home loans on floating interest rate basis,
with immediate effect.Yours faithfully(C. D. Srinivasan)Chief General Manager
RegardsAftab
Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.
http://www.croma.org.in
Also, do register at the CROMA site, if not done already:
http://www.croma.org.in/member-registration/
[IMP: People posting ads for promotion of their business or of commercial-only nature will be banned/unsubscribed without any warning or clarification]
