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Diff bet interest & finance charge.

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(Querist)
21 February 2009 hi to everyone,

I just wanna know is there any diff between interest & finance charges. What i feel is interest is part of finance charge. Correct me if I am wrong.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
21 February 2009 Yes, You are correct. Finance charges includes processing fees of loan , other bank charges etc. Interest is just a part of Finance CHarges.
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Shiva

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Shiva (Querist)
22 February 2009 Will there be any recurring finance charge other than interest for a particular transaction.
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Dhirajlal Rambhia online (Expert)
28 June 2023 "Sorry, I am not a featured member."

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