Late Payment of few hours to 1 day | Kotak Mahindra Bank

[talk2rik]

My friend had missed the payment due date of the Kotak Mahindra Bank League Credit Card but had done the full payment within 1 day. Will that have any impact on CIBIL Report or any other credit burau reports?

Is it true that banks generally inform the buraus only when the late payment is of more than 30 days?

 

[abhimarda]

As per RBI guidelines banks need to provide 3 days post last date as buffer and they don't charge any fees/penalty either for these 3 days. If it remains unpaid even after 3 days then all charges/penalty is applicable. Late payment reporting becomes applicable after 3 days however the banks update bureaus on periodic basis which is normally a month.

 

[Skylar]

My friend had missed the payment due date of the Kotak Mahindra Bank League Credit Card but had done the full payment within 1 day. Will that have any impact on CIBIL Report or any other credit burau reports?

Is it true that banks generally inform the buraus only when the late payment is of more than 30 days?

Done within one day through which app?
If the payment is settled on the same day then no issues if payment is settled after 3 days then it would be effecting his score.