What Is The Processing Fee & Charges For Personal Loans?

• You need to pay loan processing charges of 0.5% to 2.50% of the loan amount. This non-refundable fee covers administrative costs.
• Pay verification charges incurred for verifying your credentials and creditworthiness.
• Late EMI payments result in additional penalties.
• GST Tax applied for any extra services during the loan period.
• Prepayment/Foreclosure penalty of 2-4% if you repay the loan early.

A Personal Loan helps you achieve several of your life’s dreams and goals. These loans can be taken for innumerable reasons, whether you wish to fund your dream wedding or take off on an international trip, whether you want to buy a consumer durable or to pay off Credit Card debt.

There is also no limitation to how you can use the funds. Since it is an unsecured loan i.e. you are not required to provide any collateral against your loan, your bank levies specific charges on this loan. Here are some charges you incur on a Personal Loan.