Consequences of personal loan EMI bounce

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Consequences of Personal Loan EMI Bounce
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How to Use This Presentation
Major default Minor default
Non-payment of EMI for more than 90 days.
Non-payment of EMI for less than 90 days.
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Impact of personal loan EMI bounce
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Deteriorates creditworthiness Your
credit score will fall drastically
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Repayment Burden Interest penalty raises
the EMI burden.
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Seizure of Asset
You will lose your collateral if you default on a
secured loan.
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Costly Borrowing Your future loans will
be approved at a higher interest rate
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Legal Trouble You may be dragged to
court for repayment.
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Tips to prevent default-like situations Plan
yur expenditures and stick to your
budget. Invest in schemes that pay higher
interest than you are currently paying on your
loan. Opt for an auto debit of your
EMI Transfer your outstanding debt to a
more affordable lender.
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If you are facing financial difficulties, it is
best to contact your lender and request a
loan rescheduling.
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Thank you! WouldLovetohearfromyou. Hero FinCorp
Limited 09, Basant Lok, Vasant Vihar, New Delhi -
110057 Tel [phone] Email customer.care_at_herof
incorp.com Website https//www.herofincorp.com/
Know More What Will Happen If A Personal Loan
EMI Bounces?