Diff bet interest & finance charge.
This query is : Resolved
21 February 2009
hi to everyone,
I just wanna know is there any diff between interest & finance charges. What i feel is interest is part of finance charge. Correct me if I am wrong.
I just wanna know is there any diff between interest & finance charges. What i feel is interest is part of finance charge. Correct me if I am wrong.
21 February 2009
Yes, You are correct. Finance charges includes processing fees of loan , other bank charges etc. Interest is just a part of Finance CHarges.
22 February 2009
Will there be any recurring finance charge other than interest for a particular transaction.
28 June 2023
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