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Can the option on the rate of interest exercised at the time of sanction be switched over during the currency of the loan?

April 26, 2017currency exercised loan option rate sanction time

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Can the option on the rate of interest exercised at the time of sanction be switched over during the currency of the loan?

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A. The option for Fixed or Floating Rate of Interest exercised by the borrower at the time of sanction will not be allowed to be switched over for a minimum period of 3 years. Thereafter, any change would be at the discretion of the Sanctioning Authority.