How is the processing fee calculated for a loan or credit application?

The processing fee for a loan or credit application is typically a percentage of the loan amount or credit limit requested. The exact percentage can vary depending on the lender or financial institution, as well as the type of loan or credit product. In some cases, there may also be a minimum processing fee amount. It's important to review the terms and conditions of any loan or credit application carefully to understand the specific processing fee structure.