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Reduced Rates of Interest Processing fee: This is charged from the borrower to process the loan application. It is typically between 1 percent and 2 percent of the loan amount. Some banks charge a flat fee. This fee is to be paid up front with the loan application and supporting documents. Rating.
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To help you in understanding the APR of 592% we have created this short video. We want to ensure that we take away any confusion about our charges so you are clear how much your loan will cost you. In addition to EMI there are two types of charges paid when going for personal loan â once when applying for the loan (Processing fees) and second when pre-closing the loan. These charges vary from 2 to 3% of the loan amount. You only need two things to qualify:
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