Other Charges

Consumer Voice - - Bfsi -

Th­ese in­clude CERSAI reg­is­tra­tion charges, doc­u­men­ta­tion charges, eq­ui­table mort­gage fees, ad­vo­cate fees, ar­chi­tect/val­uer fees, bank in­spec­tion charges, etc., which are in the na­ture of out-of-pocket ex­penses for ac­tual ser­vices ren­dered.

Over­draft Fa­cil­ity

Some banks are sanc­tion­ing OD fa­cil­ity, which is a float­ing loan and can be a run­ning loan ac­count with­out any fixed EMI. The monthly in­ter­est has to be re­paid as and when deb­ited to the ac­count. The cred­its (de­posits) into the ac­count will be treated as EMI, which can be var­ied ac­cord­ing to avail­abil­ity of sur­plus funds at your dis­posal. A fixed loan ac­count does not need a re­newal (only a re­view is done, if at all nec­es­sary), but an OD fa­cil­ity re­quires re­newal reg­u­larly.

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