What are the prepayment charges for India MBA loans?*

- As per the prepayment policy in force on prepayments during the Initial Period**:

• The borrower has the option to pay up to 25% of the financial year opening principal outstanding every financial year without any charges.
• Any amounts paid in excess of the 25% threshold shall attract prepayment charges at 2% of the amount(s) being so prepaid from any source other than refinance as stipulated in the relevant clause of the education loan agreement.
• Refinance of the loan from any bank/other financial institution by the borrower during this fixed rate period will attract a pre-payment charge of 2% on the outstanding principal being prepaid.

- Nil for the Subsequent Period

*Loans disbursed until February 2023

** Initial Period = Period commencing with effect from the date of first disbursement under the loan agreement and shall subsist until 36 (thirty-six) months therefrom.