http://economictimes.indiatimes.com/news/economy/policy/rates-to-rise-if-prepayment-fee-is-waived-banks-tells-rbi/articleshow/10480550.cms
This is nothing but hypocrisy on part of the banks.
I have known for the last few years that Axis bank doesn't charge any prepayment penalty at all (even for balance transfer).
If Axis bank can afford it, there is no reason for other banks to not do the same.
If you want to pass on the burden to the customers, then go ahead and do it. Ultimately it is banks like these who will be doomed because there are always going to be good and ethical banks.
This is nothing but hypocrisy on part of the banks.
I have known for the last few years that Axis bank doesn't charge any prepayment penalty at all (even for balance transfer).
If Axis bank can afford it, there is no reason for other banks to not do the same.
If you want to pass on the burden to the customers, then go ahead and do it. Ultimately it is banks like these who will be doomed because there are always going to be good and ethical banks.
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