Delaying your loan repayment has a negative effect on your overall credit history. It affects your credit score, which might cause problems with future loans. There is also a penalty if you delay your loan repayment.
Rs. 250/ week
Monthly penal charges: 2% penal interest rate on the overdue amount
The delay charges are applied after two days of the EMI due date till 4 weeks. If the balance is still unpaid, then 2% of the EMI is levied until the EMI is remitted.