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Kotak Mahindra Bank
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Kotak Mahindra Bank
Pre-payment penalty

How far is it correct to charge a pre-payment penalty to any customer??? Most of the banks are charging anything from 2 to 6% and I would like to know, how far is it leagal to charge such a penalty!!! If at all banks should felicitate the customers opting to pre-close their account, for closing the ...