Pre closure or pre-payment of Business Loans
You can pre-close or pre-pay your Business Instalment Loan (BIL) by paying the applicable pre-closure charges after payment of 12 Equated Monthly Instalment (EMI). Currently, the applicable pre-closure charge is 5% of the
outstanding loan amount (plus applicable tax).
Depends on various factors such as profile of the customer (Professional / Non Professional, Constitution
(Proprietorship, Partnership, Private Limited, LLP etc) & nature of business.