What are the charges Housing Finance Companies charge other than interest, while granting loans? Is there any fixed rates for such charges? Do they vary from company to Company? What are hidden charges?
- by Suresh, Koramangala
The financial institutions charge processing fees, valuations fees, Advocate’s Fees before sanctioning the loan.
There are no fixed charges for the above mentioned fees and these charges are decided by the financial institutions themselves.
There are certain charges like annual account maintenance charges, charges for statements etc., are charges separately included in the account. These types of charges are called hidden charges.