The cheque will be deposited on the scheduled due date. If it bounces, the loan plan will be marked as overdue which will automatically incur late fees of 2% per week plus accrued interest.
Articles in this section
- Can I pay off my financing earlier than the due date?
- How can I reschedule?
- Can I pay off a rescheduled loan earlier than the rescheduled date?
- Can I reschedule on the repayment date?
- What happens when I fail to reschedule?
- How to settle late payments?
- What fees am I going to incur for each time I reschedule?