If the loan is not repaid within the loan tenure, there is one opportunity to pay the service charge again and enjoy the loan for a further 30 days, provided you have applied for the extension prior to the original due date. Beware however, if the loan is not paid or extended by the 30th day by 11:50 PM, your details will be with CIBIL and penalty charges if applicable will be added. This is a mandatory procedure by law. StuCred is a RBI registered NBFC; we are obligated to report our loan, its history, late payment and non payment of dues to Credit Bureaus such as CIBIL. By paying on time, one's score improves. It also will follow with legal action against you if the loan is not paid within a certain period.