An applicant taking an education loan from a major Indian private bank (based on 3 years' work experience) couldn't get the bank to share its charges brochure and asked what fees to expect. Members who had been through it laid it out:
- Processing fee: roughly 1–2% of the sanctioned amount. Depending on the bank and case, you either pay it upfront before sanction or have it deducted from the disbursed amount. Expect minor additional expenses of around ₹2,000.
- Cancellation between sanction and disbursement: typically no charge. A member recalled no fees for cancelling after sanction but before any disbursement.
- Visa refusal: the poster was told there'd be no cancellation charge. The bank confirmed verbally that if the visa is rejected, cancelling the sanctioned loan costs nothing.
- Get it in writing. Members found the bank's refusal to share the brochure odd — a lender should be willing to put its charges on paper. Push for the written schedule (or email confirmation) of processing, cancellation, and prepayment charges before committing, rather than relying on a phone call.