I only give the other loan application handling for chq payment.
OD (Current Account), the chq payment will deduct the OD on the payment date (within clearing time), if the chq is good fund, the interest will be stop on the payment date.
MCL, the handling is the same as OD.
Both if chq return, the reversal will be effective backdate to the payment date.
For card system, both payment and chq return will be effective on D+1.