Personal EMI Auto debit failed due to insufficient funds

[CreditLife]

Hello peeps

I took a personal loan from HDFC bank and EMI will be auto debited from my ICICI Salary account on 7th of every month but today(7th September) it got failed due to insufficient funds and I received the following message from ICICI
ECS/NACH of Rs X towards HDFC BANK LIMITED from ICICI Bank Acct XX has returned on 07-Sep-23 due to Insufficient fund. Applicable return charges will be levied.

I have transferred the required amount to my ICICI salary account immediately. Contacted HDFC bank but I didn't receive proper response from them to my questions. Following are my queries
1) Will bank try to deduct EMI again. If yes when ?
2) Any way to manually pay the EMI ? tried from HDFC Netbanking but its not working.
3) Any late payment charges from HDFC ?
4) Will this be reported to Credit bureaus ?

 

[sksameerpatels]

Auto debit will happen today only if not day after tomorrow.
First Second Time they will never update late payment in cibil

 

[CreditLife]

Thanks for the reply @sksameerpatels

Anyway to pay manually today itself ? dont want to take any chance

 

[Thomas244]

Isn’t it better to pay manually and be sure. Because the fees will be huge

 

[sksameerpatels]

Don't pay manually they will Do once more time Ecs today or in 3 days

 

[CreditLife]

@sksameerpatels bro

Contacted HDFC Loan support team, they are saying that it'll be reported to Credit bureaus and they have asked me to send a mail to loansupport@hdfcbank.com when I have requested them not to report.

Any other way to escalate the request ?

 

[romilq]

If today is due date and you pay manually after ECS failure then no late payment will be reported.

@sksameerpatels bro

Contacted HDFC Loan support team, they are saying that it'll be reported to Credit bureaus and they have asked me to send a mail to loansupport@hdfcbank.com when I have requested them not to report.

Any other way to escalate the request ?

 

[akshayhs]

Better set an SI from ICICI to credit the loan amount 3-4 days in advance so you never give it a chance to reoccur again. My personal loans were from the same bank which I also used to get my salary. I always prefer it this way.

 

[CreditLife]

If today is due date and you pay manually after ECS failure then no late payment will be reported.

There's no option to pay the loan manually. any idea how can I pay it ?

 

[CreditLife]

Better set an SI from ICICI to credit the loan amount 3-4 days in advance so you never give it a chance to reoccur again. My personal loans were from the same bank which I also used to get my salary. I always prefer it this way.

ICICI is my salary account but due to some transactions I have transferred amount to different account and I forgot to transfer back

 

[romilq]

There's no option to pay the loan manually. any idea how can I pay it ?

HDFC Loan EMI Bill Payments :: Billdesk

Is this link not working ?

 

[CreditLife]

HDFC Loan EMI Bill Payments :: Billdesk

Is this link not working ?

Tried this yesterday and today as well not working. Receiving the following message

The inputs you have entered are either invalid or there is no record available at the moment.

I think the above link works only if there is any EMI overdue but my EMI status is shown as Pending/Not received

 

[Thomas244]

Is there an option in netbanking to transfer an amount intrabank to loan account. Usually the accounts u have will open up in netbanking. Or if i am not mistaken with correct ifsc and loan account number u can just do neft

 

[CreditLife]

Is there an option in netbanking to transfer an amount intrabank to loan account. Usually the accounts u have will open up in netbanking. Or if i am not mistaken with correct ifsc and loan account number u can just do neft

No such option is there

 

[CreditLife]

Update
Received reply from HDFC next day and they have asked me to transfer(NEFT/RTGS/IMPS) the EMI amount + Auto debit failure charges to RCLOAN<loan account number> and they have told me that payments received before 8:30 will be updated on the same day. I have immediately transferred the amount and the same got updated by EOD. I have received the loan closure mail after couple of days since its the last EMI that I have paid.

Post the loan closure I have requested them not to report it to the Credit bureau. After some back and forth emails they have confirmed that they wont report the EMI as overdue as it as paid and loan is closed.

Thank you everyone who has shared replied and shared their insight

 

[prem2311]

Update
Received reply from HDFC next day and they have asked me to transfer(NEFT/RTGS/IMPS) the EMI amount + Auto debit failure charges to RCLOAN<loan account number> and they have told me that payments received before 8:30 will be updated on the same day. I have immediately transferred the amount and the same got updated by EOD. I have received the loan closure mail after couple of days since its the last EMI that I have paid.

Post the loan closure I have requested them not to report it to the Credit bureau. After some back and forth emails they have confirmed that they wont report the EMI as overdue as it as paid and loan is closed.

Thank you everyone who has shared replied and shared their insight

Can you explain RCLOAN <locan account number> part to repay? Because, I facing the same issue right now.

 

[CreditLife]

Can you explain RCLOAN <locan account number> part to repay? Because, I facing the same issue right now.

This is the exact reply from HDFC team

For Non HDFC Bank Current Account or Savings Account Customers:

You can Pay your EMIs and pending charges through IMPS/NEFT/RTGS through your Bank’s digital banking interface or by placing a request for IMPS/NEFT/RTGS at your bank’s branch.

You need to add your loan account number as beneficiary in your CASA holding with other bank.

Please find below the beneficiary details required to add beneficiary.

Beneficiary Account Number: Beneficiary Account Number: Beneficiary Account Number is your loan prefixed with "RALOAN" in upper case. For e.g., for Loan No. 12345678 the beneficiary account number will be RALOAN12345678. (In case RALOAN is not prefixed as advised, the payment will be returned.)

. Beneficiary Name : RETAIL ASSETS
. Account Type : Current Account
. Bank Name : HDFC BANK LTD
. Branch Name : Kanjurmarg Branch, Mumbai
. IFSC Code : HDFC0004989

Note:

Payments received up to 8:30 pm will be credited to your account on the same day.

Payments received after 8:30 pm including IMPS Fund Transfer will be credited to your account on the same day.

Your bank may levy certain charges for using NEFT/RTGS/IMPS services. You are requested to check with your bank for applicable charges, if any.

 

[gowmara]

Better set an SI from ICICI to credit the loan amount 3-4 days in advance so you never give it a chance to reoccur again. My personal loans were from the same bank which I also used to get my salary. I always prefer it this way.

What is SI

 

[cardy]

What is SI

SI means standing instruction
It's kind of auto debit

 

[gowmara]

SI means standing instruction
It's kind of auto debit

So you are saying set SI from icici to hdfc ? If it’s auto paid then what happens to ECS