NABARD issued guidelines for LT Refinance-floating rate for F.Y 2024-25

Oct 14, 2024 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe National Bank for Agriculture and Rural Development (NABARD) on October 03, 2024, issued guidelines for LT Refinance-floating rate for FY 2024-25.

The following has been stated: -

•Interest rate is benchmarked to a 3-month T-Bill rate, with spread and premiums set by NABARD.

•Interest rate resets every 90 days.

•Pre-payment charges: 2.50% p.a. (plus taxes) if repaid within 1 year.

•Penal charges: 2.00% p.a. (plus taxes) for defaulting amounts.

The detailed circular is given in the document below. 

[Circular No. 208/DoR -45/2024]

View Document 1

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