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How to cancel no cost emi on a merchant transaction but get the interest as discount?

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How to cancel no cost emi on a merchant transaction but get the interest as discount. For example, etailers give interest as discount upfront. How to retain that while cancelling the emi.
 
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Robin Thakral said:
I have been using this trick to save some extra for quite a while.
Till last year, I have used it a couple of times on HDFC CC but later on, I started ICICI CC for every such transaction with confidence.
  1. HDFC CC was not reversing 199+GST i.e 235 INR for sure.. Plus they want the 1st installment value interest as per 2.5-3% as that would be their loss to be recovered. Hence overall for 30k-60k transactions, you will pay around 1-2 % of your transaction amount in these charges but a major loss would be of the reward points, which you are generally supposed to get for the non-emi transaction on the card.
    • but now I'm hearing various comments with people saying they reverse the same amount except GST on both charges shared above.. So that would be a good thing.
    • as well as they want to you to pay whole due amount on card within 36-72 hours of receiving the settlement mail. That means your 48 day window would be lost, when you call for such a request on all the transaction made in the settlement month.
  2. ICICI CC is a champion in this thing, I got to know about it when I used a friend's credit card for a lucrative deal for NO-COST EMI and 3rd day the bank charged no extra rupee. I was glad when I heard about it... I applied for ICICI CC at that moment only and then asked customer support about it many times for assurance and post that I have used it now every moment I go to buy a good range products with no-cost EMI.
  3. I have reached AXIS & SBI team for the same, but they did told me no processing fees would be reversed 3% interest on 1st installment as well as some fore-closure fees as well. So, it sounded like some penalities. So, I avoided trying on them so far.
Click to expand...
Axis and icici bank don't charge single penny for EMI cancellation, emi processing fee, GST all reverse will just a second when you call CC . I done by with my 6 cards.
 
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saniruidas said:
No bank gives you cashback and rewards points on EMI, even if you cancel it.
Click to expand...
I cancelled NCEMI on axis card for washing machine purchased offline.
As the EMI was cancelled, it was converted to a single order of 34000 rupees. Subsequently when the statement was generated 1% cashback for the offline purchase was also given.
 
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Hemang said:
I cancelled NCEMI on axis card for washing machine purchased offline.
As the EMI was cancelled, it was converted to a single order of 34000 rupees. Subsequently when the statement was generated 1% cashback for the offline purchase was also given.
Click to expand...
Which card ?

I never know that 😕 even I also know that EMI cancel purchase count as milestone benifits.
 
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Hi guys i am planning to purchase iphone 16 pro @1,40,000 ₹
2 bank offer 24 month no cost emi hdfc & icici(70% in 24 emi &30% in 25th emi)
My brother have gst number but he dont have any cc (i apply addon card for my brother)
Which bank easily cancel emi and +gst input it will increase my saving anyone have idea about this
And most probably interest on icici is higher because they taking 30% after 2 year…. Any one used this trick
Doesn’t emi cancellation work on offline(on store) swipe too
 
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Dr_jai said:
Hi guys i am planning to purchase iphone 16 pro @1,40,000 ₹
2 bank offer 24 month no cost emi hdfc & icici(70% in 24 emi &30% in 25th emi)
My brother have gst number but he dont have any cc (i apply addon card for my brother)
Which bank easily cancel emi and +gst input it will increase my saving anyone have idea about this
And most probably interest on icici is higher because they taking 30% after 2 year…. Any one used this trick
Doesn’t emi cancellation work on offline(on store) swipe too
Click to expand...
GST txns will be flagged as business usage and will likely lead to cancellation of the card and reversal of any benefits.

Leaving that risk aside both ICICI and HDFC will work for cancellation of ncemi. Each bank has its terms, you may familiarise yourself with those.
 
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Dr_jai said:
Hi guys i am planning to purchase iphone 16 pro @1,40,000 ₹
2 bank offer 24 month no cost emi hdfc & icici(70% in 24 emi &30% in 25th emi)
My brother have gst number but he dont have any cc (i apply addon card for my brother)
Which bank easily cancel emi and +gst input it will increase my saving anyone have idea about this
And most probably interest on icici is higher because they taking 30% after 2 year…. Any one used this trick
Doesn’t emi cancellation work on offline(on store) swipe too
Click to expand...
Icici charges reverse kar deta hein, but ofline ka pata nehi .

Let's see community me koi janta hein kya .
 
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Dr_jai said:
Hi guys i am planning to purchase iphone 16 pro @1,40,000 ₹
2 bank offer 24 month no cost emi hdfc & icici(70% in 24 emi &30% in 25th emi)
My brother have gst number but he dont have any cc (i apply addon card for my brother)
Which bank easily cancel emi and +gst input it will increase my saving anyone have idea about this
And most probably interest on icici is higher because they taking 30% after 2 year…. Any one used this trick
Doesn’t emi cancellation work on offline(on store) swipe too
Click to expand...
Hdfc stop no cost emi cancellation go with ICICI.
 
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