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

mahindra-finance-author

by Mahindra Finance

|

October 1, 2024

|

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.

Related articles

The Role Of Fixed Deposits In Retirement Planning

Retirement planning is a crucial aspect of financial management. It requires careful consideration and strategic investment choices to ensure a financially secure future. Out of various investment opt...

KNOW MORE

April 17, 2024

Tips To Choose SME Loan Tenure

Looking to expand your small or medium-sized enterprise (SME) and how to apply SME loan? One of the key aspects you need to consider is choosing the right tenure for your SME loan. Determining the sui...

KNOW MORE

April 10, 2024

Retirement Planning for Women: FD For Long-Term Stability

Introduction Planning for retirement is crucial to ensure financial stability and a comfortable standard of living in the future. According to a recent survey, 62% of individuals earning between INR 5...

KNOW MORE

May 7, 2024