Clarification on EMI terms

[IGN_Vivek]

Hello,

I recently made a purchase of ₹56,499 using my HDFC Moneyback Credit Card on a 3-month EMI plan, which included an additional discount of ₹1,473 that was applied when I was redirected to the OTP page, ₹55025 got deducted.

I have a few questions regarding this transaction:

1. Processing Charges: The statement mentioned a ₹299 processing charge. Could you confirm if this amount is inclusive of GST?
2. Repayment Options: Am I allowed to repay the full amount at once? If so, will I still receive all the benefits and the extra discount equivalent to the interest I would have paid over the 3 months?
3. Hidden Charges: Are there any other charges I should be aware of that may not have been disclosed initially?

I appreciate any insights or guidance you can provide regarding these questions. Thank you for your help!

 

[alwayswin69]

Hello,

I recently made a purchase of ₹56,499 using my HDFC Moneyback Credit Card on a 3-month EMI plan, which included an additional discount of ₹1,473 that was applied when I was redirected to the OTP page, ₹55025 got deducted.

I have a few questions regarding this transaction:

1. Processing Charges: The statement mentioned a ₹299 processing charge. Could you confirm if this amount is inclusive of GST?
2. Repayment Options: Am I allowed to repay the full amount at once? If so, will I still receive all the benefits and the extra discount equivalent to the interest I would have paid over the 3 months?
3. Hidden Charges: Are there any other charges I should be aware of that may not have been disclosed initially?

I appreciate any insights or guidance you can provide regarding these questions. Thank you for your help!

1. No, it'll be 299+gst
2. Yes check my comment on this post:- https://www.technofino.in/community...st-deals-on-mobiles-tablets.32089/post-807764
3. No hidden charges, you'll be charged 299+gst on emi conversion, but 299 i.e. the processing fee will be refunded fully and only gst will be charged, given that you raise a closure request as soon as transaction is converted into an EMI.


You can mark this comment as the solution!

 

[Deepak_Shetty]

I did one EMI transaction before statement generation recently but EMI conversion had processed after statement and full amount reflected in my statement. That EMI amount has been refunded after statement and remaining amount I have paid. Currently HDFC app says my statement outstanding is zero and not allowing to pay via BBPS.
However few HDFC credit card personnel says that I need to make minimum amount due payment even my statement outstanding is zero. Is it true? Anybody faced this situation?

 

[_na_cheese]

I did one EMI transaction before statement generation recently but EMI conversion had processed after statement and full amount reflected in my statement. That EMI amount has been refunded after statement and remaining amount I have paid. Currently HDFC app says my statement outstanding is zero and not allowing to pay via BBPS.
However few HDFC credit card personnel says that I need to make minimum amount due payment even my statement outstanding is zero. Is it true? Anybody faced this situation?

Been there

No need to pay

 

[Deepak_Shetty]

Been there

No need to pay

Thank you very much for the clarification