For loans, there are usually two different types of interest rates that are applied. They are fixed interest rates and floating interest rates. Let's look at them in-depth now.
|Type of Fee||Applicable Charges|
|Processing Fee||Up to 4% + GST on total loan amount|
|Additional Processing fee/Admin fee||Up to ₹ 2500 wherever applicable|
|Penal Interest/Additional Interest||3% on overdue amount per month*|
|Post Disbursement Documentation Charge||Up to ₹ 650 + GST|