Are there any fees associated with a Repair/Top-Up Loan?

Yes, there may be fees associated with a Repair/Top-Up Loan, including:

• Processing Fee: Financial institutions usually charge a processing fee, typically around 1%-2% of the loan amount.
• Prepayment Charges: If you choose to repay the loan early, there may be prepayment penalties, usually 2%-5% of the outstanding amount.
• Late Payment Fees: If you miss an EMI, a late fee (usually 2%-3%) may apply.
• Documentation Charges: Some financial institutions may charge fees for loan documentation and processing.

It’s essential to review the fee structure with your financial institution to understand the full cost of the loan.