​​​​​​In case if you fail to pay the EMI or there is an ECS bounce, then the bank will levy a certain amount of penalty. The same will also is reported in your credit report. It can create problems in case of severity the bank may also reject any application for loans in the future. To keep your credit history sound, you should make sure that you pay all the repayment within the stipulated timeframe. This is undoubtedly not a good practice, though.