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September 05, 2021, 11:04:12 PM |
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How is Cardana Better Than Traditional Lending?
3. No Fees
Banks often charge establishment fees and loan service fees. To take out a home loan in Australia, Commonwealth Bank of Australia charges up to AUD 600 to 800 for upfront establishment fee and up to AUD 8 per month for loan servicing.
Other fees include additional security fees, progressive drawing fees, rate lock fee, security guarantee fee, low deposit premium, access fees, and many more.
None of these is charged at Cardana, effectively lowering borrowing costs for users of our dApp.
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