Most private banks will have processing charges built into the Advance EMI i.e. although the processing agent might say its Advance EMI, it consist of 2 parts processing charges + principal amount. For eg. if you pay 1 advance EMI of 10k, 6K will be deducted as charges (credit facility origination charges) and 4k as principal from the your loan amount.
Credit facility origination charges can go as high as 65-70% of your EMI.
If in doubt, check from the bank directly and not the agents.
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"I cannot be fair with everyone in Life" - dadu, 2001
Last edited by dadu : 31st January 2009 at 17:35.
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