Application and processing
Ask whether the fee is fixed or percentage-based, what taxes apply, and what happens if the lender rejects the application or sanctions a lower amount.
Legal and technical checks
Property-title review, search, valuation, and technical inspection may be charged separately. Confirm whether repeat visits or document defects create additional cost.
Documentation and security creation
Depending on the transaction and state, there may be stamp duty, registration, memorandum, mortgage, or filing-related costs. Verify these through official state and lender sources.
Insurance and bundled products
Record the premium, tenure, insured amount, exclusions, beneficiary, refund rules, and whether the premium is added to the loan. Financing a large single premium means paying interest on that premium too.
Rate conversion and reset
For floating-rate loans, understand:
- external or internal benchmark
- spread or margin
- reset frequency
- when EMI or tenure changes
- conversion or switch fee
- treatment after a benchmark change
For fixed or hybrid products, record how long the rate is fixed and what happens after that period.
Prepayment, transfer, and closure
Ask for the current rules for part-payment, foreclosure, balance transfer, document release, and lien or charge removal. Keep proof of every payment and request a closure checklist before the final transfer.