What is overdue payment in a loan?
The amount which is left unpaid after the due date of payment of monthly instalments is known as the overdue payment in a loan.
What happens if you don'st pay your loan on time?
If the borrower has not paid the EMI once or twice the lenders offer a grace period to the borrower to pay overdue EMI but by charging a late fee along with the EMI. If the borrower fails to pay several EMIs then the lender reports the borrower as a defaulter.
What is Click to Pay- Loans service?
The lender gives the borrower the option of paying your outstanding loan amount through a debit card or any other online services. This facility is known as Click to Pay - Loans service.
How do I make a payment through Click to Pay- Loans?
To avail the service of Click to Pay - Loans payment, follow the following steps
Is Click to Pay- Loans secured?
Yes, click to pay option is the most secured and the easiest option available to the borrower as it is secured through 128 bits SSL.
Is there any charge for using Click to Pay- Loans?
No, there is no extra charge on paying through Click to pay service.
What are the benefits of Click to Pay-Loans?
The borrower now is not required to write any cheques or stand in long queues at the bank for making payment. They can pay overdue online. It is the fastest and most convenient option available.
Can I make my overdue payments through Click to Pay- Loans if my asset is surrendered or repossessed?
No in that particular case the borrower has to visit the branch office for payment of the overdue loan amount.