|A. Adjustable price Loans (ARHL) and mix speed Residence Loan (“CRHL”) throughout the amount of applicability associated with the rate that is variable of
A) For Individual Borrowers:
No prepayment charges shall be payable on account of part or full prepayments made through any sources for all loans sanctioned only to individual borrowers.
B) for any other than Individual Borrowers – For loans sanctioned with company/ Sole Proprietorship Concern/Firm or an HUF as co-applicants:
I. Just in case the mortgage is prepaid in the very very first six (6) months through the date of very very very first disbursement, Prepayment costs shall be levied for a price of 2 percent plus fees and levies which are statutory costs, for the quantities being so prepaid;
Ii. The borrower shall have the option to prepay up to 25% of the opening principal amount every financial year, of the loan, without any prepayment charges upon the expiry of the first six (6) months and up till 36 months. Such prepayments will have to be manufactured through the sources* that is own of Borrower.
Any quantities prepaid in every monetary 12 months more than the 25% limit shall attract prepayment costs at 2% regarding the quantities being therefore prepaid more than 25% every year that is financial.