Late fee charges are payable on and from the 4th day of the relevant installment becoming overdue.
(a) The default charges will be calculated @ INR 35/- per day for such a period; during which the default continues subject to a maximum limit of INR 2,000/-
OR
(b) 30 % of the outstanding amount.
Extra interest: Interest charges on the overdue principal amount.
Note:
The late charges are inclusive of GST.
The penalty will be applicable only if the total outstanding amount is greater than ₹250.