You will be surprised to know about these charges of the bank. The bank will never tell you about these charges even by mistake.
Keep these things in mind while taking a loanCharges
In today’s time, people take loans for some reason or the other, like for children’s education, to buy a house, to buy a car or to raise money. In such cases, everyone takes a loan, but there are some things which banks do not tell us. Our article. I will give you information about all these things and what is the thing that the bank does not tell us.
What is interest and floating interest
What is fixed interest? The interest on your loan is fixed at a fixed time. This loan is for those who want to keep their monthly expenses constant for a long time. (Fixed interest) Interest means the interest charged by you from time to time. This interest rate can change depending on the situation. It is suitable for those who take advantage of interest shortages.
Processing Fees and Charges
Meaning of Processing (Application for Loan) When the bank processes the loan, it charges a small percentage of your loan, it is called processing fee charge.
If you have taken a loan and want to repay that loan before time, then the bank can charge you more because the bank has its own rules and we should understand this rule.
EMI late fee
If you buy goods on EMI and do not pay the EMI on time, then the bank charges you a late payment fee. It is a percentage of your (EMI) amount which you have to pay.
What are EMI Bounce Charges If you are paying EMI and there is less money in your account and your EMI is not deducted due to less money then charges are imposed on you, it is called EMI Bounce Charges…
.Loan and Credit Card
If you are taking a loan and are not able to deposit the EMI on time, then your credit card score gets affected and you do not get the same on EMI later.
What is an insurance policy? It is necessary to take insurance in many banks because the insurance policy can cover the amount of the loan taking customer if the customer taking the loan falls ill or dies. At such a time, the bank can cover the amount of the customer taking the loan. This insurance policy is called
It is very important to know about the rules of loan
While taking a loan, instead of just paying attention to the interest, it is important to know about their processing fees and charges and also see what are their terms and conditions so that you can avoid various other charges and get help in taking the loan. meets
If you are buying goods on EMI then you should keep in mind that there is sufficient EMI balance in your account so that you do not get charged.