RBI: Now you will not have to pay separate processing fee for taking loan, it will be a big benefit.

RBI: Now you will not have to pay separate processing fee for taking loan, it will be a big benefit.


Internet Desk. If we want to buy a new house or a car, we have to take some money through loan and for this we have to go to the bank. In such a situation, as soon as the loan talk starts, the processing fee is already informed about it. But now the Reserve Bank of India has given a big relief and that is that documentation, processing fees and other types of charges associated with the loan will not have to be paid separately. Now this will be added to the interest on their loan.

Let us tell you that RBI has been trying to make loans and its related systems transparent for the customers for a long time. Be it making rules for loan recovery or linking the interest charged on the loan to the repo rate. In such a situation, now RBI has done the same regarding loan processing fees and documentation charges.

According to media reports, now RBI has asked banks to include other charges on the loan in their interest rates. So that customers can know how much actual interest they have to pay on their loan.

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