RupeeTimes' financial glossary  A-F |  G-O |  P-V |  W-Z |  1-9 |  Search by category |     Category: Definitions   Guarantee Guarantor for the loan Hedge Funds Hire purchase price Hirer Hypothecation Interest Introductory Rate Late Payment Charges Loan Agreement Manufacturing Account Margin Amount Market value Marketable title Maturity Monopoly Monthly Statement Mortgage Net worth Non-performing Assets (NPA) Obligation of the borrower Overlimit fees Late Payment Charges When the monthly installment towards repayment of a loan is delayed the financier collects the installment alongwith the late payment charges. The late payment charge is also known as the delayed payment charges or the overdue payment charges. The late payment charges are fixed at the time of signing the finance contract.