The below charges are applicable:
- Late interest: it's charged on the total principal outstanding from the due date.
- Late Fee: it's charged on the total principal outstanding amount on a daily basis
Principal Outstanding Amount
Per day charges
Rs.0 to Rs.500
Rs.501 to Rs.2,000
Rs.2,001 to Rs.10,000
Rs.10,001 to Rs.25,000
More than Rs.25,000
Note: The late fee will be capped at 30% of the total outstanding principal amount or ₹ 3000/- (whichever is lower).