accounts & finance
This query is : Resolved
07 January 2009
What is commitement interest.Why bank charge this interest.pis explain
07 January 2009
It is an interest which is charged on a loan applicant if he doesn’t withdraw the sanctioned loan within a stiplulated time period. The interest rate can range from 1%-5%.
(Source: http://www.rupeetimes.com/glossary/commitment_fee_62.html)
It is an interest which is charged on a loan applicant if he doesn’t withdraw the sanctioned loan within a stiplulated time period. The interest rate can range from 1%-5%.
(Source: http://www.rupeetimes.com/glossary/commitment_fee_62.html)
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