How late fee charges and Delay charged are calculated for unpaid EMIs? : Helpdesk

Delay Charges Policy:

Delay charges are applied to the unpaid EMI amount after the due date, based on the disbursed loan’s rate of interest. These charges are calculated daily, starting from T+1 (where T is the due date), and will continue to accrue until the payment is settled in full. The Lending Partner is responsible for applying these charges.

Late Payment Charges Policy:

If the EMI is not paid by the due date, a late payment charge is levied by the Lending Partner on the 4th of the month according to the following slabs:

Unpaid EMI (₹)	Late Payment Charges (₹)
1,000 to <2,000	200
2,000 to <6,000	600
6,000 to <10,000	800
≥10,000	1,000

Key Points to Note:

Late payment charges are fixed and determined by the corresponding slab.
These charges are not capitalized and will not be added to the unpaid EMI amount.
Unpaid EMIs are not cumulated—each EMI is treated independently for late payment charges.

Example:

If an EMI of ₹7,000 remains unpaid, a late payment charge of ₹800 will apply.

To avoid these charges, we strongly recommend making timely payments.