In India, receiving a loan sanction from any bank is often a moment of relief and joy for the applicant. On Sept. 07, it was Kochi-based Asimov Robotics’ turn.

A home loan sanction letter is a key to your home-buying journey. Serving as proof of eligibility, it also provides clarity on the loan terms and can be used to negotiate favourable loan terms.

The RBI has further stated that pre-payment charges, if any, in cases not covered under these rules, must be clearly mentioned in the loan sanction letter and loan agreement.