EMI
What happens if I miss an EMI?
If you go past an EMI repayment due date:
- Late fees get charged on the outstanding amount
- Missing an EMI repayment will impact your credit score
If EMI is due:
- For less than 30 days: 2% on the overdue portion
- Between 31-60 days: 2% on overdue portion + 0.5% additional penalty charges
- Between 61-90 days: 2% on overdue portion + 1% additional penalty charges
- Over 91 days: 2% on the entire outstanding balance
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