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Personal Loan Prepayment Charges

 Bank
Prepayment
Axis Bank Part Prepayment is allowed after paying 1 EMI’s Nil prepayment charges
Full Prepayment is allowed after paying 1 EMI’s Nil prepayment charges
ICICI Bank Part Prepayment is not allowed
Full Prepayment is allowed after paying 6 EMI’s 5% prepayment charges applicable
HDFC Bank Part Prepayment is not allowed
Full Prepayment is allowed after paying 12 EMI’s Prepayment charges to vary by year: 2nd year – 4%; 3rd year – 3%, after 3 years – 2%
SBI Part Prepayment is allowed after paying 0 EMI’s Nil Prepayment Charges
Full Prepayment is allowed after paying 1 EMI’s Nil prepayment charges
Kotak Bank Part Prepayment is not allowed
Full Prepayment is allowed after paying 6 EMI’s 5% prepayment charges, 30 days notice applicable
Citibank Part Prepayment is allowed after paying 6 EMI’s Can pay between 2 and 5 EMIs at NIL charges
Full Prepayment is allowed after paying 6 EMI’s 4% prepayment charges applicable
IndusInd Bank Part Prepayment is not allowed
Full Prepayment is allowed after paying 12 EMI’s prepayment charges may apply
Standard Chartered Bank Part Prepayment is not allowed
Full Prepayment is allowed after paying 12 EMI’s prepayment charges may apply
Fullerton India Part Prepayment is not allowed
Full Prepayment is allowed after paying 12 EMI’s 4% prepayment charges applicable
Bajaj Finserv Part Prepayment is allowed after paying 1 EMI’s can prepay up to 25% in a year without charges
Full Prepayment is allowed after paying 1 EMI’s with 4% charges on outstanding principal
Capital First Part Prepayment is not allowed
Full Prepayment is allowed after paying 24 EMI’s 5% charges up to 6 months and at 4% after that

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Personal Loan Prepayment Charges 4.00/5 (80.00%) 1 vote

About 

Priya Rai is a loan consultant.