Axis merchant EMI cancellation

[saku7]

Hello,
I have purchased iPhone 17 base variant with my axis credit card so i got instant discount and ncemi discount of 3,500 now if I cancel the merchant emi will I recive the foreclosure charges?

I contact customer care they said that if i have availed instant discount with merchant then bank will check with merchant and then apply the foreclosure charges, emi conversion charge within 120 days.

Can someone please confirm if they have closed merchant emi recently

 

[SamPtnk]

Hi can you tell what was the processing fee charged by Axis ?
Was it flat 1% + GST or 299 + GST ?

 

[saku7]

Hi can you tell what was the processing fee charged by Axis ?
Was it flat 1% + GST or 299 + GST ?

199+ 35 gst

 

[theMessiah]

Axis changed emi cancellation t&c recently so it's not possible to veirfy if they are charging foreclousre fees or not in the next 120 days. I also cancelled a merchant emi and receving cancellation mail which mentioned that if instant cashback was availed then foreclosure charges will be debited and cc also confirmed the same. I hope they don't take away the instant discount too as there is no information about it in t&c's.

 

[PABLO]

*🚀 EMI Cancellation Tricks Alert! 🚨*

*Important Update on EMI Cancellation Tricks! 💯*

Hey Team,

We've cracked the code on canceling EMIs and reversing charges with HDFC and SBI! 🤩 Here's the scoop:

*💡 HDFC Merchant EMI Cancellation Trick:*

1. *⏰ Pre-close your EMI within 3 days*.
2. *💸 All charges will be reversed*, and you won't receive a discount (tested and confirmed 💯).

*💡 SBI Merchant EMI Cancellation Trick:*

1. *💸 Pay the full amount* after the transaction.
2. *📊 Make the outstanding balance zero*.
3. *🚫 The EMI won't convert*.

These tricks have been *TESTED & WORKING* 💯! Keep them in mind for future transactions and EMI cancellations.

*📝 Key Takeaways:*

- *⏰ Act quickly* within the 3-day window for HDFC EMI cancellations.
- *💸 Paying the full amount* and making the outstanding balance zero is crucial for SBI EMI cancellations.