While there are no late fees involved, late interest charges will be applicable for late payments. These charges vary based on how late your payments are.
|Days past repayment date||Charges|
|2 days||Grace period, no late interest charged|
|3 to 14 days||Late interest rate of 18% p.a. charged on the principal component of overdue instalment|
|15 days onwards||Late interest rate of 18% p.a. applied to total outstanding principal balance|