Neha Nagar Instagram – No more hidden charges by banks !!
The Reserve Bank of India (RBI) has issued a new rule that all banks and NBFCs will have to tell their customers all their hidden charges at the time of giving loans.
This is to ensure that customers are aware of all the costs involved in taking a loan and can make an informed decision.
The banks/NBFCs will have to provide a Key Fact Statement (KFS) to all customers.
The KFS will contain all the important details of the loan, such as the loan amount, loan tenure, actual interest rate,processing fees, document fees, etc.
The KFS will have to be provided in simple language so that customers can easily understand it.
If a bank/NBFC does not provide a KFS , then customer can complain to the RBI.
The RBI has also set up a helpline portal where customers can file complaints. :
RBI Helpline Number -14440
RBi Email ID – rbi.org.in
Follow @iamnehanagar for more videos ! | Posted on 08/Feb/2024 18:11:09
