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

Tax Saving FDs For Short-Term Goals: A Strategic Approach

When it comes to achieving short-term financial goals, finding the right investment strategy can often be challenging. However, Tax Saving Fixed Deposits (FDs) offer a convenient avenue for minimising...

KNOW MORE

May 23, 2024

Fixed Deposits For Millennials: Building Financial Stability Early

As a millennial, you’re navigating a vast array of long-term investment plans to secure your financial future. While seeking higher returns is important, it’s equally crucial to balance yo...

KNOW MORE

February 23, 2024

When & How To Refinance Your Used Car Loan

Are you looking to save money or improve the terms of your used car loan? Refinancing could be the solution you need. By taking advantage of lower interest rates, improving credit scores, or adjusting...

KNOW MORE

May 13, 2024