Are there any penalties and late payment charges?

Late Payment Charges:

You will be charged a late payment fee of Rs. 300 + GST 18% as charged by the respective bank if you do not pay your EMI on time.

The charge is applicable in the following cases:
1. Your EMI is not cleared through NACH auto-debit because you did not have sufficient money in your bank account.
2. You do not pay the EMI through our website on time.

Penal Charges:

You will be charged a penalty interest on the overdue amount if you pay late. This penalty amount increases every day which is 0.1% per day (36% per annum).