If the transaction fails due to lack of funds, the financial institution (bank) will charge a fee as a penalty. These fees are disclosed to the customer by each financial institution and may vary from financial institution to financial institution. Bajaj Finserv is one of the most trusted and transparent financial institutions in the country and encourages clients to have sufficient funds in their accounts at least one day before the EMI payment date. This avoids ECS / NACH return fees from financial institutions (banks).
To Know more about the Bajaj ECS mandate, visit the official website