Concurrent audit
This query is : Resolved
05 May 2016
Sir,,,, Don't the bank need to collect processing fee from all type of loans and advances while renewal????
KAVIRAJA ADDANGADI
(Expert)
05 May 2016
Normally bank will collect processing fees based on the nature loan for fresh as well as renewals. Loan processing fees varies which depends bank to bank.
06 May 2016
OK,, but is there any exemption for loans and advances other than ODH and OD, from collection of processing fee ???
KAVIRAJA ADDANGADI
(Expert)
06 May 2016
No, exemption for collection of processing fees
KAVIRAJA ADDANGADI
(Expert)
06 May 2016
No, exemption for collection of processing fees
Rupesh Jain
(Expert)
06 May 2016
all bank take the fee as per there terms & condition of loan agreement.
06 May 2016
But the bank can make exemption lists on their circulars,,, am I right???
KAVIRAJA ADDANGADI
(Expert)
25 May 2016
Normally Bank will charge processing fees that is the one of sources of Revenue, in certain cases during loan mela,Bank will not collect processing fees giving relaxation for certain period to attract customers. Especially for home loan mela this is not through out the year only certain days only once in a while. It depends for Banks to banks.
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