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SOURCE OF INFORMATION : NATIONAL HOUSING BANK WEBSITE
PERIOD COVERED : 01-MAR-2006 TO 31-OCT-2024

HOUSING FINANCE COMPANIES: CHARGED PRE-PAYMENT PENALTY IN HOUSING LOANS ON A) FLOATING RATE BASIS WHICH WERE PRE-CLOSED FROM ANY SOURCE AND B) FIXED RATE BASIS WHICH WERE PRE-CLOSED FROM BORROWERS’ OWN SOURCES

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

CHARGED PRE-PAYMENT PENALTY IN HOUSING LOANS ON A) FLOATING RATE BASIS WHICH WERE PRE-CLOSED FROM ANY SOURCE AND B) FIXED RATE BASIS WHICH WERE PRE-CLOSED FROM BORROWERS’ OWN SOURCES    		IMPOSED PENALTY RS.4970000

31-MAY-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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