Late charges are applicable if you delay the payment for more than 3 days after the due date. Here is how late charges are calculated:
Penalty: ₹25 per day (up to a maximum of ₹1000)
Extra interest: Interest charges on the overdue principal amount.
Note:
- The late charges are inclusive of GST.
- Penalty will be applicable only if the total outstanding amount is greater than ₹500.