Home Loan: Should I Take A Home Loan? Know These Charges Levied By Banks

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Home Loan: It has become very common to take loans from banks or financial institutions to realize the dream of owning a home. While building a dream home, or buying a home, a large amount of loan is taken. But before taking a home loan, experts say it is better to know about the various charges levied by the banks. Now let us know what kind of charges the bank charges.

Home Loan

Home Loan

It is known that loans are being taken from banks these days to build a dream home or to buy apartments and villas. It costs a lot of money to build a house that we like. There is no such amount of money so we have to depend on banks. Now many banks are giving large amount of loans. However, banks charge various types of fees (Home Loan Charges) to grant loans. These fees vary from bank to bank. Are there any hidden charges before applying for a loan? What other charges are being charged? It is good to know that. Now let us know about the different types of fees charged by banks on home loans.

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Processing Fees

Banks charge processing fees while sanctioning loans. Every bank imposes these. Banks charge a processing fee of 0.20 percent to 2 percent on these loans. 0.35 percent GST will be added to these fees.

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Administration Fees Legal

Opinions, Banks charge different fees depending on the value of the property. These charges range from 0.20 percent to 0.50 percent of the loan amount. Varies with banks.

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Deposit of title deed

This charge is levied by the bank to create a mortgage on the title deed of the house. These fees range from 0.10 percent to 0.50 percent of the loan amount.

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Documentation Fees

Banks levy documentation fees to preserve and record the documents of the borrowers.

GST on Loan Charges

GST is also payable on various charges levied at the time of taking the loan. GST is applicable at 0.35 percent on processing fees and 18 percent on other fees. In case of late payment of EMI, 18% GST will also be charged on penalty.


If agreements are made with developers and banks.. Exemptions in legal, valuation and processing charges can be availed. By buying from big realty companies that have agreements with banks, you can get many benefits. Buying a house and taking a home loan should be done only after taking care of everything.

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