Easy Office
LCI Learning

accounts & finance

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 January 2009 What is commitement interest.Why bank charge this interest.pis explain
Profile Image

K V Subba Rao

Profile Image

K V Subba Rao (Expert)
07 January 2009
It is an interest which is charged on a loan applicant if he doesn’t withdraw the sanctioned loan within a stiplulated time period. The interest rate can range from 1%-5%.

(Source: http://www.rupeetimes.com/glossary/commitment_fee_62.html)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links