Personal loan with no prepayment charges in India

Personal loan for various needs have become common among customers. The customers take Personal loan for medical emergency, Cards payments, travel, Marriage in the family, renovation of home or for margin money for Home loan.

Banks Who offer loans with No Pre-Payment Charges:-

Banks	Pre Payment Charges	Apply
Bajaj Finserv	Nil
Axis Bank	Nil
State Bank of India	NIL

 

Personal loan is given for fixed period and rate is also fixed during the tenure and equal amount is paid every month. But there are some customers who need money at this moment but can return either the full or large portions of the loan amount before the tenure ends.

If there are prepayment charges- then customers hesitate to pre pay the loan. By prepaying the loan you can save a lot on interest and thus helps in saving the interest amount .

If you think you can prepay your personal loan then you should opt for banks which have no prepayment charges.