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.