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What will happen if there is insufficient balance in my bank account?

mahindra-finance-author

by Mahindra Finance

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October 1, 2024

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1 mins read

The mandate is set up by beneficiary bank if the average balance is adequate to meet the monthly repayments. Once mandate is set up but there is insufficient balance in account, the transaction will be rejected on presentation.Every return attracts dishonour charges.

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