Processing Fee – Jul 2020
- The charge is charged to pay for the expense incurred by the lender in the loan procedure.
- It isn’t deductible through the loan quantity. Thus, the debtor has to spend it separately.
- Mortgage loan costs vary across banking institutions that can differ with every debtor.
- Currently, HDFC, Citibank, Indiabulls supplies the NIL processing charge on mortgage loans.
- Various other costs aside from processing charge are; MODT cgharges, Legal and Technical costs, Loan Conversion Charges, Document maneuvering fees, etc.