Defaulting on EMI – Will a 1 day delay impact his Credit Score ?

POSTED BY Javed Khan ON March 16, 2014 4:04 pm COMMENTS (2)


My friend has taken a Housing loan from HDFC, the EMI is debited through ECS on every 15th of the month.

Somehow he didnt had enough money to cover the EMI on 15th of this months(today).

He would deposit the money in his account today. Just wondering how does it works with ECS, how can he deposit his EMI now. Would a delay of 1 day impact his Credit score?




2 replies on this article “Defaulting on EMI – Will a 1 day delay impact his Credit Score ?”

  1. Anand says:

    Actually the delay will not be 1 day. It will be 6-7 days.

    When the ECS bounces, the HDFC (or any other loan giving institution) does not try on the next day. It tries after 6-7 days.
    It might deduct the bounce charges also.

  2. ashalanshu says:

    Dear Javed, one ECs bounce ‘ll not impact the CIBIL score immediately but repeatition of the same ‘ll invite trouble.



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