Verify if your bank's foreclosure fees and late charges are compliant with the latest 2026 RBI mandates.
As per latest RBI 'Fair Lending Practice' guidelines, banks cannot charge 'penal interest' (interest on interest); they can only charge 'penal charges' which must be reasonable and not capitalized. Furthermore, foreclosure charges on floating-rate individual loans are prohibited. Use this checker to audit your bank's charges.
Last verified May 2026
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