Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The true annual cost of borrowing once compounding, fees and the repayment schedule are counted.
The number on the loan document is often not what you pay. A "no-cost EMI" usually hides the discount you did not get.
A lender’s revenue other than interest — processing charges, distribution commission and fees for services rendered.
A processing fee integral to the loan’s yield is folded into the effective interest rate and spread over the loan’s life; commission and service charges are earned at origination. Fee income growing much faster than the book means more of the return is being taken up front.