An ICICI loan payment due date is the date by which you must make your monthly loan payment to ICICI Bank. If you do not pay your loan by the due date, you may be charged a late payment fee.
How to Find Your ICICI Loan Payment Due Date
You can find your ICICI loan payment due date in the following ways:
- Check your loan agreement: Your loan agreement will specify your payment due date.
- Look at your monthly statement: Your monthly statement will also show your payment due date.
- Contact ICICI Bank: You can contact ICICI Bank customer service to inquire about your payment due date.
What Happens If I Miss My ICICI Loan Payment Due Date?
If you miss your ICICI loan payment with due date, you may be charged a late payment fee. The late payment fee is usually a percentage of your monthly payment. For example, if your monthly payment is Rs. 10,000 and your late payment fee is 10%, you will be charged Rs. 1000 for missing your payment.
In addition to the late payment fee, you may also be charged interest on your outstanding balance. The interest rate on your outstanding balance will depend on the terms of your loan agreement.
If you miss your ICICI loan payment due date repeatedly, ICICI Bank may take further action, such as:
- Sending you a reminder notice
- Charging you a higher late payment fee
- Garnishing your wages
- Foreclosing on your loan
How to Avoid Missing Your ICICI Loan Payment Due Date
There are a few things you can do to avoid missing your ICICI loan payment due date:
- Set up a payment reminder: You can set up a payment reminder on your phone or computer to remind you when your payment is due.
- Make a payment schedule: Write down the due date for each of your loan payments and stick to it.
- Automate your payments: You can automate your loan payments so that they are automatically deducted from your bank account on the due date.
- Keep track of your balance: Make sure you know how much you owe on your loan and when your next payment is due.
Conclusion
It is important to make loan payment on time to avoid late payment fees and other penalties. There are a few things you can do to avoid missing your payment due date, such as setting up a payment reminder, making a payment schedule, automating your payments, and keeping track of your balance.
