SBI Personal Loan Closure charges

[ak95]

One of my friends has a personal loan from SBI (Xpress Credit Personal Loan). He wanted to know if there are any pre-closure charges on that Loan . The branch manager or the staff is not giving a clear answer and asking him to pay off the loan amount then only they will be able to tell if charges are apllicable.

 

[Deleted member 11974]

One of my friends has a personal loan from SBI (Xpress Credit Personal Loan). He wanted to know if there are any pre-closure charges on that Loan . The branch manager or the staff is not giving a clear answer and asking him to pay off the loan amount then only they will be able to tell if charges are apllicable.

If the loan is on a fixed interest rate rbi allows banks to charges upto 3% foreclosure charges