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SBI, ICICI abolishes penalty on pre-payment of housing loans
The country's largest lender, the 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 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
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