Home Loan Processing Fees and Charges

The home loan fees are the most essential and obvious price levied on home loans. It is a cost that the applicant must pay to banks or NBFCs in order for their home loan application to be processed. It is a one-time fee that is normally paid ahead, meaning the borrower must pay it to the bank/NBFC out of pocket rather than having it taken from their loan amount. It’s referred to as an administrative fee by some institutions. The processing fee is usually only collected after the loanee’s application has been granted. On most home loan schemes, banks levy a processing fee. Some banking institutions, on the other hand, either do not charge a home loan processing fee or waive it as part of a special offer. Salaried people, self-employed professionals (SEP), and self-employed non-professionals may all be charged differently by some banks (SENP).

Home loan eligibility calculator is the online tool that is provided by most NBFC’s and banks, this calculator helps the borrower understand whether they will be able to get the loan from their preferred lender or not. There are various home loan fees and charges for documents that are charged by the lender, some of them are as follows:

  • Stamping charge
  • Income Tax Certificate charge
  • Interest Certificate charge
  • NOC/NDC charge
  • Fee for revalidation of NOC
  • Agreement copy fee
  • Issuance charge for the photocopy of title documents

There are various national financial organizations that provide home loans at a very low interest rate and for a very large span of time. The home loan process for these organizations is very simple and if the person has submitted all the documents required for a home loan, the loan gets approved within a short span of 72 hours. Therefore, a potential borrower should consider taking a loan from these organizations as a viable option.


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