A lump sum amount of money paid by a resident at the beginning of his/her residency that provides the right to occupy the residence. When there is an entrance fee, the resident often pays a lower monthly service fee than the resident who rents the unit on a monthly basis. Properties included in NIC MAP were designated as Entrance Fee properties if they charge a minimum of $20,000 for the lump sum up-front fee. Entrance fees may range from $20,000 to more than $1,000,000.
The entrance fee is payable on acceptance of your application for a new credit card. This fee varies between Rs 100 to Rs 400 depending upon the issuing bank and the type of card requested. More often than not, this fee is waived.