1% per month on the overdue amount, accruing from the day after a missed due date.
Maximum total penalty
Capped at 100% of the original principal — the in-duplum rule (Banking Act s.44A). Once accumulated interest and charges equal the principal, no further interest accrues until a payment is made.
Early repayment
No prepayment penalty. You may settle the outstanding balance at any time; interest is calculated only on days outstanding.