Engineer Loan Fees and Charges:

Basic charges are as below-

Processing fees

At the time of disbursal of the approved loan amount, 2% of the loan value will be deducted as processing fees.

Secure fee

All online professional loans are subject to a convenience fee of Rs. 1,999.

EMI bounce charges

If your EMI cheque bounces in a year, you will be charged Rs. 1,000 in the subsequent month.

 

Foreclosure Charges

Foreclosing after 1 month would attract a Foreclosure Charge of 4% on the outstanding principal amount. This does not include the applicable taxes.

Part prepayment charges

Prepaying the loan in smart parts would attract a charge of 2% of the amount prepaid. This does not include the applicable taxes. This, however, does not apply for Flexi Loans. Also, part-payment has to be equivalent to at least one EMI amount.