Bounces often start with a failed bank mandate.
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H2: What happens if your education loan overdue remains unpaid (write a short para explaining this and use this link for interlinking (www.bajajfinserv.in/track-your-loan-repayment-with-statement-of-account) H3: Immediate financial consequences, H3: the credit record consequence that follows you: (write a short para explaining this and use this link for interlinking (/insights/services-guides/clear-your-overdue-emis-in-my-account)
H2: How to clear education loan overdue payment and restore your account (write a short para explaining this and use this link for interlinking (/insights/services-guides/manage-your-loans-in-my-account) H3: make the payment through official channels only (write a short para explaining this and use this link for interlinking (/insights/services-guides/repay-your-loan-emis-in-my-account) H3:fix the mandate so it doesn't repeat (write a short para explaining this )
Frequently Asked Questions
EMI Payment
Overdue Payment
CIBIL Impact
Does an overdue education loan affect the co-applicant parent CIBIL score?
Yes, an overdue education loan negatively impacts your co-applicant parent's credit score. Because both individuals share equal legal liability for the debt, lenders report the repayment delay to credit bureaus under both names. This dual reporting causes an immediate drop in both individual CIBIL scores.
How do I restore my education loan account after clearing overdue dues?
Log in to your online loan portal three working days after completing your full past-due payment. Verify that your total overdue balance shows as zero and your status is marked as current. The lender will automatically update your account records and report the regularisation to credit bureaus during the next monthly billing cycle.
What happens if my EMI payment fails during an online transaction?
If your online transaction fails, your loan account remains in overdue status until the funds are successfully received. Check your bank statement to confirm if money was deducted. If debited, it typically reverses within a few working days, but you must re-attempt the payment to avoid further penal interest.
What happens if I miss a Education loan EMI due date?
Missing your due date immediately places your education loan into overdue status. The financial institution will levy a bounce charge as applicable and calculate penal interest daily on the unpaid balance. Additionally, the repayment delay is reported to credit bureaus, which damages your personal CIBIL score within 30 days.
Will I get a notice for an overdue Education loan EMI?
Yes, you will receive automated payment reminders and formal notifications regarding your past-due balance. Lenders send these alerts via text messages, emails, and official letters to your registered contact details. These communications outline your total outstanding dues, accrued penal interest, and immediate steps required to regularise the account.
How long does a missed EMI stay on my credit report?
A missed monthly instalment remains visible in your credit bureau history for a period of up to seven years, as per credit information company practices. Even after you clear your overdue balance and reset your active Days Past Due counter to zero, the historical record of the delay remains visible to prospective lenders.
Does a delayed loan EMI affect my CIBIL score?
Yes, a delayed loan instalment impacts your CIBIL score negatively. Lenders report payment delays to credit bureaus once the due date passes. This creates an active Days Past Due entry on your record, causing an immediate drop in your score and signaling high risk to future financial institutions.
How does CIBIL score impact future loan eligibility?
A lower CIBIL score indicates high repayment risk, leading financial institutions to reject new application requests. Conversely, a healthy score satisfies internal credit filters, unlocking quick approvals, higher loan values, and better repayment terms. Maintaining an untarnished record ensures unhindered access to credit cards, home loans, and personal financing.
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