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/-
(b) 30 % of the outstanding amount.
We have updated the late fee structure and will be effective from 6th Nov'21:
Daily Charges ( as defined below ) or 30% of outstanding, whichever is lower ( Max: Rs. 3000/-)
|Principle Outstanding Amount||Per day charges|
|Rs.0 to Rs.500||Rs.0|
|Rs.501 to Rs.5000||Rs.20|
|Rs.5001 to Rs.20,000||Rs.50|
|More than Rs.20,000||Rs.100|
Extra interest: Interest charges on the overdue principal amount.
Note: All charges are inclusive of GST.