EMI & Late Fee Policy

EMI & Late Fee Policy

We believe in absolute transparency. Your EMI schedule is provided upfront in your Key Fact Statement (KFS) and Loan Agreement.

1. Repayment Mechanism

EMIs are automatically deducted from your registered bank account via e-NACH/UPI AutoPay on the due date. Please ensure sufficient balance at least 24 hours before the due date.

2. Penal Charges (Not Penal Interest)

As per RBI guidelines effective from 2024, if you delay your EMI payment, we will levy a flat Penal Charge (and not penal interest).
- These penal charges will not be capitalized (i.e., no further interest will be computed on these charges).
- The exact penal charge amount is explicitly mentioned in your KFS.

3. Bounce Charges

If your auto-debit fails due to insufficient funds, a standard bank bounce charge (as levied by your bank) and an administration fee by the lending partner may apply.

4. Impact on Credit Score

Delaying EMIs will negatively impact your credit score (CIBIL) and reduce your chances of getting loans in the future.