EMI on Debit Card: Fees and Charges
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Processing Fee:
₹199 + GST
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Auto-Debit Return Fee:
₹500 + GST
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Interest Rate:
16% per annum Can be hiked to a maximum of 1.33% per month in case of default
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Late Payment Charges:
If outstanding balance is less than ₹10,000: ₹500 + GST
If outstanding balance is more than ₹10,000: ₹750 + GST
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Foreclosure Charges:
3% of the outstanding principal amount + GST + next month’s EMI interest charges
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Cash Transaction Charges for EMI Repayment through Bank Branches:
₹100 + GST
