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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

HOUSING FINANCE COMPANIES: CHARGED PRE-PAYMENT PENALTY IN HOUSING LOANS ON (A) FLOATING RATE BASIS WHICH WERE PRE-CLOSED FROM ANY SOURCEAND (B) FIXED RATE BASIS WHICH WERE PRE-CLOSED FROM BORROWER’S OWN SOURCES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person LIC HOUSING FINANCE LTD.
  DID NOT MAKE DISCLOSURE TO RETAIL BORROWERS, GRADATION OF RISK AND RATIONALE FOR CHARGING DIFFERENT INTEREST RATES TO DIFFERENT CATEGORIES OF BORROWERS IN LOAN APPLICATION FORM/SANCTION LETTER

CHARGED PRE-PAYMENT PENALTY IN HOUSING LOANS ON (A) FLOATING RATE BASIS WHICH WERE PRE-CLOSED FROM ANY SOURCEAND (B) FIXED RATE BASIS WHICH WERE PRE-CLOSED FROM BORROWER’S OWN SOURCES   		IMPOSED PENALTY RS.49,70,000

27-MAR-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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