I forgot to deposit the funds early in the morning on a day of my EMI Cycle. I deposited in the afternoon but still EMI got bounced. I never had a bounced EMI in my bank account. What should I do do not get my CIBIL spoiled?
Even a single missed payment can negatively affect your Credit Score. Every payment missed is reported by the bank or lender and is recorded by the credit bureau, which in turn affects your score.
However, payments that are delayed or missed for a period of less than 90 days are generally deemed to be minor defaults. So, while your Credit Score will be affected, it will only be temporary as long as you continue to make regular payments.
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