If you're unable to make your payment on time, a late payment charge will apply. This is calculated as: Late Payment Charge (LPC) = Outstanding Monthly Payment x LPC Rate (1%) / 365 days x Overdue Days.
Late payments can also impact your credit rating, which may affect your future account usage. To avoid this, we encourage you to make your payments on time. If you're facing difficulties, you may opt for an installment repayment plan to help manage your payments more effectively.