[Resolved]  Tata Capital — additional 1% processing fee is being changed on home loans to process for pmay scheme

Address:	Hyderabad, Telangana, 500072
Website:	www.tatacapital.com

Hi team,

This is the complaint regarding the additional 1% processing fee that is being charged on total sanctioned home loan to process the home loan application under the government scheme pmay. I still dont know why customers have to pay additional fees to process the home loan under pmay scheme. Government should take action on this and get an explanation why additional processing fees are being taken from customers. Rbi should cancel the companies license of such nbfc's which are doing such illegal activities.in the tata capital website this 1% processing fee is also not mentioned. So they are cheating customers by charging additional 1% fee for entire home loan amount.

For example: if we are going for a home loan of 40 lakhs then they are charging 1% of total home loan (I. E 40, 000 rupees) to process the home loan under pmay. Even they are charging franking fee of 0.5% on total home loan (I. E 20, 000 rupees in the above case).

So why should a customer bear all this irregular fees to get a home loan and to get government schemes and benefits.