FAQs

In this section you will find answers to frequently asked questions on life, health, travel and home insurance, savings, loans, mortgages and personal finance.

Loans and Cards (1)

The lender levies some other charges than just the rate of interest which also add up into your overall cost of loan. These are as follows:

  • Processing Fee: This fee is charged by the banks to process the loan of the borrowers, which usually is 1-2 percent of the total amount borrowed and are mostly subject to a minimum flat amount.
  • Pre-payment Fee: Banks may also charge borrowers a fee if they repay the loan before the completion of the tenure of the loan. This fees can range anywhere between 2-5 percent of the amount being prepaid.
  • Late fee charge: When borrower fails to pay the EMI on time, the lender charges a penalty amount along with the EMI, which ranges usually between2-5 percent of the loan amount.

Documentation Charges: This fee is charged for the processing of the application for the loan and is around `500 to ` 1000.

Category: Personal Loans

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Personal Loans (1)

The lender levies some other charges than just the rate of interest which also add up into your overall cost of loan. These are as follows:

  • Processing Fee: This fee is charged by the banks to process the loan of the borrowers, which usually is 1-2 percent of the total amount borrowed and are mostly subject to a minimum flat amount.
  • Pre-payment Fee: Banks may also charge borrowers a fee if they repay the loan before the completion of the tenure of the loan. This fees can range anywhere between 2-5 percent of the amount being prepaid.
  • Late fee charge: When borrower fails to pay the EMI on time, the lender charges a penalty amount along with the EMI, which ranges usually between2-5 percent of the loan amount.

Documentation Charges: This fee is charged for the processing of the application for the loan and is around `500 to ` 1000.

Category: Personal Loans

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

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