Loan EMI Miss Ho Jaye to Kya Hota Hai? Complete Loansathi.in Guide

Loan EMI Miss Ho Jaye to Kya Hota Hai? – Loansathi.in Clear Guide

Loan EMI Miss Ho Jaye to Kya Hota Hai? Loansathi.in Clear Guide

Missing a loan EMI is more common than people think. Situations like job loss, business slowdown, emergency expenses, salary delay, or medical issues can cause EMI payments to get delayed. But what actually happens when you miss an EMI? How does it affect your credit score, bank relationship, and future loan approvals? This complete guide from Loansathi.in explains everything in a clear and professional manner so you fully understand the impact and solutions.

What Happens When You Miss a Loan EMI?

When an EMI is not paid on time, banks and NBFCs follow strict guidelines as per RBI rules. Even a single missed EMI can create financial consequences, depending on how early or late the repayment is corrected.

Important Note:
A missed EMI does not mean your loan is cancelled. It simply creates a delay record which must be corrected immediately.

1. Late Payment Charges are Added

Banks charge a penalty when EMI is not paid by the due date. These charges vary for each institution but are typically:

2% to 5% of EMI amount
Fixed late fee for every missed EMI

2. Your Credit Score Starts Dropping

Even a single missed EMI leads to a negative impact on your credit score (CIBIL). A 30-day delay can drop your score by 30–60 points, depending on your history. A repeated pattern can bring it below 650, which makes future loan approval very difficult.

3. Bank Marks the EMI as “Overdue”

The overdue status is visible in your credit report and affects your creditworthiness.

4. Continuous Delay Leads to DPD Marks

DPD means “Days Past Due.” If you delay an EMI:

1–30 days late → Minor impact
31–60 days late → Moderate impact
60–90 days late → High-risk account
90+ days late → NPA classification possible

5. Bank Starts Calling for Recovery

After a missed EMI, banks begin reminders through:

SMS alerts
Phone calls
Email reminders

Longer delays can lead to field agent visits.

6. ECS / Auto-Debit Bounce Charges

If EMI is linked to auto-debit or ECS, a bounce charge is applied by both the bank and the loan provider.

7. Difficulty in Getting Future Loans

Banks check the last 24 months of repayment history. Even one missed EMI can reduce the chances of approval for:

8. Heavy Delay Can Lead to Legal Notice

If EMI remains unpaid for 3–6 months, banks may issue a legal notice under the loan agreement terms.

9. For Secured Loans, Bank Can Take Possession

For loans backed by collateral such as:

Banks can legally initiate asset possession if EMIs remain unpaid for a long period.

How to Fix a Missed EMI Quickly?

Pay the overdue EMI immediately
Inform the bank about your situation
Request a payment extension
Request restructuring if needed
Maintain sufficient bank balance on due dates

LoanSathi.in: How We Help Borrowers

Loansathi.in is a digital loan assistant platform helping users across India apply for the right loan product with correct documentation. We collaborate with 150+ Banks and NBFCs, giving applicants multiple approval options. Our support team checks documents, identifies eligibility, and matches your profile with the right lender.

Loan categories we help with:

Process:

You fill the loan form

We verify your documents

We match your profile with the best bank or NBFC

We submit your application for approval

Final Summary

Missing a loan EMI has serious consequences including late fees, negative credit marks, reduced eligibility, and difficulty in future loans. However, paying the overdue amount quickly and maintaining consistent payments afterward can restore your profile. Loansathi.in can guide you through the correct process and help you choose the right loan category based on your financial situation.