login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

What does bounce charge mean?

mahindra-finance-author

by Mahindra Finance

|

May 28, 2024

|

1 mins read

bounce charge is a fee levied by your financial institution if a scheduled loan payment cannot be processed due to insufficient funds in your account. To avoid bounce charges and potential late payment penalties, ensure you have sufficient funds available before your EMI payment is due.

Related articles

Impact of Repo Rate Changes on Fixed Deposit Interest Rates

When it comes to managing our finances, understanding how different economic factors can affect our investments is crucial. One such factor that plays a significant role in shaping the financial lands...

KNOW MORE

February 23, 2024

How To Maximise Your Savings This Durga Puja With Mahindra Finance’s Fixed Deposits

Durga Puja is not only a time for celebration but also an ideal opportunity to give your savings a boost. With the right investment strategy, you can maximise your returns and secure your financial fu...

KNOW MORE

October 10, 2024

Debt-avalanche-What-Is-It-&-How-to-Use-It

Debt Avalanche? What Is It & How To Use It?

Introduction Managing debts can be overwhelming, especially when faced with multiple loans and high interest rates. If you are tired of making minimum payments that barely make a dent in your principa...

KNOW MORE

July 1, 2024