Hi,
My friend want to switch home loan from LIC to SBI. As per the mail conversation he had with LIC, he has been told that pre closure charges will be applied for this action.
I am also transferring my loan from IDBI to SBI and IDBI has mentioned that no charges will be applied if I change the bank.
Do we have a consistent regulation (by RBI) on this regard? Can LIC charge for trasferring home loans to other bank?