How is the EMI paid?
The EMI is to be paid every month through post-dated cheques (PDCs) or direct deductions from your salary. If you are opting for PDCs, then you will have to provide 36 up front. The PDCs are to be dated on the 1st of every month. However, if you receive your salary a few days later, no problem. There are some flexibilities of dating the cheques, which depends on that financial institution’s rules & regulations.
The EMI is to be paid every month through post-dated cheques (PDCs) or direct deductions from your salary. If you are opting for PDCs, then you will have to provide 36 cheques upfront. The PDCs are to be dated for the 1st of every month. However, there are no issues if you receive your salary a few days later. We provide the flexibility of dating the cheques for the 7th of the month.
The EMI is to be paid every month through post-dated cheques (PDCs) or direct deductions from your salary. If you are opting for PDCs, then you will have to provide 36 upfront. The PDCs are to be dated on the 1st of every month. However, if you receive your salary a few days later, no problem. There are some flexibilities of dating the cheques, which depands on that financial institution’s rules & regulations.
The EMI is to be paid every month through post-dated cheques (PDCs) or Electronic Clearing System (ECS)*. If you are opting for PDCs, then you will have to provide 36 PDCs upfront. The PDCs are to be dated on the 1st of every month. However, if you receive your salary a few days later, we provide the flexibility of dating the cheques for the 10th of the month.In case you have an ICICI Savings account you can also go in for the facility of Auto Debit. * ECS facility is available in selected cities only. Top What if a PDC bounces? In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy. You can replace old PDCs with new ones within 5 – 7 working days. Top What is pre-EMI interest? In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs w
