Hi there. I took a personal loan from HDFC around a couple of years ago. Last month, I had to pay the EMI bounce charges as the payment bounced. So, I know the HDFC personal loan EMI bounce charges and can help you with the same.
What are the HDFC Personal Loan Bounce Charges?
The HDFC cheque bounce/ EMI return charges I had to pay were Rs. 450 plus GST at 18%. At that time, the official told me that the GST rates could change according to the government's instructions.
Apart from this, if you fail to make the payment or pay partially, late charges of Rs. 300 plus GST at 18% will be applicable. Here too, the GST rates can change as per the orders of the government.
A lot of times, people aren’t able to understand the reason behind the bouncing of their EMI payment. So, I guess it would be helpful to share why this happens.
Your EMI payment can bounce if you’ve changed your bank account details and the update is yet to reach the lender.
Another reason could be the unavailability of sufficient funds in your account.
Lastly, this issue can occur due to technical issues with the payment gateway.
You should avoid such scenarios where the EMI payment bounces as it can have some consequences in case the last payment date exceeds 90 days.
The lender can categorise the loan under non-performing assets, your interest rate can be increased, and more.
So, even if the payment bounces due to some reason, make the payment as quickly as possible to avoid major consequences. This is all I know about the HDFC personal loan check bounce charges. I hope this helps.
Get Instant Personal Loan Disbursal into your Account Via NoBroker! Some related information:Does Cheque Bounce Affect CIBIL Score in India?
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Authors Of The Question
What is the HDFC Personal Loan EMI Bounce Charges?
rashmi
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6 months
2024-05-08T21:52:01+00:00 2024-05-08T21:52:02+00:00Comment
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