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What are Two Wheeler Loan Fees and Charges?

These refer to the costs of taking out a Two Wheeler Loan, including processing fees, documentation charges, and foreclosure charges.

How much are Two Wheeler Loan processing fees?

The processing fees can be up to 6% of the loan amount and may vary based on the asset and scheme the customer selects.

How is the wheeler loan interest rate calculated?

The interest rates is determined based on factors like the applicant's credit score, income and market conditions.

What are the foreclosure charges applicable to a Two Wheeler Loan repayment?

Foreclosure charges are 5% of the principal outstanding, plus applicable taxes.

Is Two Wheeler Loan processing fees refundable?

No, processing fees are non-refundable as they cover the administrative costs incurred during loan processing.

What are the different types of charges that can be levied in a Two Wheeler Loan?

Charges include processing fees, ECS/NACH charges, documentation fees, late payment charges, foreclosure charges, and part prepayment charges.

What is the current interest rate on the Two Wheeler Loan?

Interest rates vary by lender and applicant profile, so it's best to check with the specific lender for the current rates.

What are the additional charges included in a Two Wheeler Loan?

Additional charges may encompass document duplicate NOC charges, and repayment swap charges.

Are there hidden charges in Two Wheeler Loans?

All fees are disclosed in the loan agreement. It’s crucial to review terms carefully to understand all applicable charges.

What is the foreclosure charge on a Two Wheeler Loan?

The foreclosure charge, plus taxes, is 5% of the principal outstanding.

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