- Penalty - An 8% overdue interest will be charged on the total amount still owed. (Update 6th April 2020: An 8% overdue interest is normally charged on your total amount still owed, however as a courtesy due to COVID-19 Tala is currently waiving this fee. Please contact Customer Support via the app for more information.)
- Future Tala Loans - Late payment will result in a lower loan limit or no new loan next time.
- Low CIBIL score - Tala is required to report payment information to CIBIL. CIBIL is an organization governed by RBI(Reserve Bank of India). A low score can make it difficult to get a loan from any bank/loan company. Pay on time to keep a good CIBIL score. Find out more about CIBIL here.
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