Charges.
OBJECTIVE
In this section of the manual, you will know about the charges: applied and applicable.
Once you create the credit line account, you will see the below screen containing different tabs. Click on ‘Charges’ and you will see two sections: Applied and Applicable.
When you click on ‘Applied’, you will see the following details as shown below:
Applied Date: Date on which the charge is applied.
Charge Name: Name of the charge.
Due Date: Due Date of the charge applied.
Amount: Amount of the charge applied.
When you click on ‘Applicable’, you will see all the applicable charges as shown below:
Fee Charges: It refers to the costs or charges levied by the institution for providing various financial services or performing specific transactions. These fees are typically used to cover the costs associated with maintaining accounts, processing transactions, and offering additional services to customers.
Overdue Charges: It refers to fees or penalties that are imposed when a customer fails to make a payment or meet a financial obligation by the due date. These charges are typically applied to encourage timely payments and compensate the institution for the additional costs and risks associated with late payments.
Event Based Charges: It refers to fees or charges that are incurred by a customer based on specific events or transactions. These charges are typically applied by banks or other financial institutions to cover the costs associated with providing certain services or handling specific events.
