These are charges related to your loan against property EMI options-1. Penal interest - It is a penalty you have to pay if you lapse on an EMI payment or default on the repayment schedule. This charge is calculated on the overdue EMI amount. The penal interest may be up to 3% of the overdue amount.2. Mandate rejection charges- If your bank account does not have an active mandate and your EMI is rejected, you must pay rejection service charges of Rs. 450 monthly until a mandate is linked to the account.