Hello mate! If you have taken a home loan, you must have come across a term known as the housing loan processing fee. A lot of people usually do not know its meaning and try to find the reason behind this charge. I would like to take the initiative of answering your question. Please read along to gain all the information.
What is Meant by Housing Loan Processing Charges?
The word holds the meaning within itself. Processing fee for a home loan stands for the chargers levied by a financial institution, such as a bank to process your home loan. This fee is strictly non-refundable. However, there are some differences on the way this processing fee is charged, varying from one bank to the other.
A few banks charge the processing fee at a fixed rate, while the others decide this fee based on the percentage of the loan amount you have borrowed. This percentage is usually 0.5 or 1%.
For additional information regarding the percentage of loan that is charged as processing fee by each loan, you can refer to Sarthak’s answer. He had mentioned everything in great depth and it would definitely help you.
Hopefully, this answer of mine will guide you to understand the processing fee of home loan.
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| Banks | Processing Fee (Minimum in %) | Processing Fee Amount (Min) |
| SBI Home Loan Processing Fee | 0.4% | Rs.10,000 |
| HDFC Home Loan Processing Fee | 0.5% | Rs.3,000 |
| ICICI Home Loan Processing Fee | 0.5% | Rs.2,000 |
| Axis Bank Home Loan Processing Fee | 1% | Rs.10,000 |
| LIC Home Loan Processing Fee 2021 | - | Rs.10,000 |
| IDBI Home Loan Processing Fee | 0.5% | Rs.2,500 |
| IOB Home Loan Processing Fee | 0.5% | Rs.20,000 |
| Union Bank of India Home Loan Processing Fee | 0.5% | Rs.15,000 |
| PNB Home Loan Processing Fee | 1% | - |
| Indiabulls Home Loan Processing Fee | 2% | - |
| Kotak Home Loan Processing Fee | 0.5% | - |
| IIFL Home Loan Processing Fee | 1.25% | - |
| L&T Home Loan Processing Fee | 0.25% | - |
| Yes Bank Home Loan Processing Fee | 2% | Rs.10,000 |
| Bank of India Home Loan Processing Fee | 0.25% | Rs.1,500 |
| Bank of Baroda Home Loan Processing Fee | 0.25% | Rs.8,500 |
| UCO Bank Home Loan Processing Fee | 0.5% | Rs.1,500 |
| PNB Home Loan Processing Fee | 0.35% | Rs.2,500 |
| IDFC First Home Loan Processing Fee | - | Rs.10,000 |
| Standard Chartered Home Loan Processing Fee | 0.5% | - |
| HSBC Home Loan Processing Fee | 1% | Rs.10,000 |
| DBS Home Loan Processing Fee | - | Rs.10,000 |
| Canara Bank Home Loan Processing Fee | 0.5% | Rs.1,500 |
| Central Bank of India Home Loan Processing Fee | 0.5% | Rs.20,000 |
| Karur Vysya Home Loan Processing Fee | - | Rs.2,500 |
| Karnataka Bank Home Loan Processing Fee | 1% | - |
| Dhanlaxmi Bank Home Loan Processing Fee | 1% | Rs.10,000 |
| Tata Capital Home Loan Processing Fee | 0.5% | - |
| Aditya Birla Home Loan Processing Fee | 0.5% | - |
| Federal Bank Processing Fee | 0.5% | - |
| South Indian Bank Home Loan Processing Fee | 0.5% | Rs.5,000 |
| Jammu and Kashmir Bank Home Loan Processing Fee | 0.25% | Rs.5,000 |
| Bandhan Bank Home Loan Processing Fee | 0.25% | - |
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Authors Of The Question
What is Processing Fee for Home Loan?
Nevish
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2 Answers
3 Year
2021-09-20T17:08:33+00:00 2024-06-26T23:31:34+00:00Comment
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