SIMPLE TAX INDIA

SBI abolish home loan pre-payment penalty

Posted: 24 Nov 2011 02:13 AM PST

India's largest lender State Bank of India (SBI) has decided to abolish pre-payment charges on home loans, giving some succour to borrowers who want to foreclose their accounts. "We have decided to do away with the pre-payment charges on all kinds of housing loans with immediate effect," a senior official of the bank said. The bank has been charging pre-payment penalties only on housing loans...