Processing fee?

Question

1.Is any bank can charge processing fee on any home loan which is not sanctioned, If so what is the minimum amount that can be charged. 2.What is the norms of Interest subvention ? Who are all eligible? Whether the customer has to submit an application for availing the same ? If not given by the bank what is the procedure to get from banks/Institutions.. Thanks

 

Answer 1

Dear Vijay,

 

I would like to clarify that this site is not of any bank or regulator. The platform  has been created  by a team of  banking professionals for providing guidance to bank customers for resolution of banking service related grievances..  

The queries raised by you are not in the nature of complaint but pertain to specific product. Further, there cannot be a standard response for the different queries as different banks may follow different procedures. Accordingly, for clarification, I request you to take up your bank or the bank you wish to approach for home loan.

Regards

 

J R Mohandas