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Banks are benefited from home loans. So why are the charging processing fee?
asked Sep 7, 2017 in Home Loan by Sundar (62 points) | 46 views

1 Answer

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When you apply for a home loan with a bank, they have to follow some processes and spend time and energy to evaluate your application. As you know, all applications to the bank for a home loan are not accepted. By charging a processing fee they are ensuring that the their time was not wasted in a rejected application. However, some banks do waive off the processing fee if the loan gets approved.

Hope this helps.
answered Sep 8, 2017 by Kris Reddy (49 points)
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