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How to cancel no cost emi on a merchant transaction but get the interest as discount?
- Thread starter pavan000
- Start date
Thats great. Can you help with which number you called. Thanks..
1800 1080
I called on this number.
Thank you! I tried today and it took 2 mins to do. And that 199 plus gst also reversed!
knight
TF Legend
Does ICICI allow DC Emi cancellation within 15 days without charges?
I was planning to take a phone from flipkart.. they're offering 1800 instant disc on DC EMI. (CC upfront payment is only 1000 disc, so DC emi looks lucrative.)
But they'll eventually charge 400+200+gst as interest and charges which I'd rather avoid. Only interested in 1800 instant discount
I checked ICICI DC EMI TnC but couldn't find the 15 day cancellation clause.
Has anybody tried canceling ICICI DC EMI within 15 days?
I was planning to take a phone from flipkart.. they're offering 1800 instant disc on DC EMI. (CC upfront payment is only 1000 disc, so DC emi looks lucrative.)
But they'll eventually charge 400+200+gst as interest and charges which I'd rather avoid. Only interested in 1800 instant discount
I checked ICICI DC EMI TnC but couldn't find the 15 day cancellation clause.
Has anybody tried canceling ICICI DC EMI within 15 days?
VISHESH_BANSAL
TF Pioneer
Do not use Pixel Card.
For Other Cards except GST everything will get reverse upon Cancellation.
Call immediately as soon as EMI Conversation Happens
VISHESH_BANSAL
TF Pioneer
Obviously EMI Cancellation do not work on Pixel Cards. Only Foreclosure is the Option🤦🤦
adityagupta9484
TF Neo
No brother you are fully wrong,
I ordered one plus pad i got 6 month emi as upfront discount
When I cancelled emi after 3 day order
Hdfc bank never charged a penny in this transaction
saniruidas
TF Buzz
Is there any emi cancellation charges in Axis, Federal and RBL?
Just leaving a comment here to confirm that as on October 2024, ICICI is still allowing cancellation of no cost emi and reversing all the charges if the request is done within 15 days of transaction. I waited till I got the emi conversion message and next day called the customer care to get the cancellation done. It took no longer than 2 mins.
Steps to be followed for Availing No Cost EMI Discount on HDFC // Axis // ICICI Bank // Or any other bank are as follows -
1. First requirement is that your billing cycle date should be atleast 7 days from your transaction date, so that you get time to cancel it.
2. Buy whatever product you want with maximum EMI discount given. (No Cost tenure)
3. As soon as the transaction is settled, call the respective bank customer care number and ask them to close the EMI citing any plausible reason.
3. As informed by members that most of the charges are reversed (Only the GST component of 2-3 days is not reversed). So you still get substantial discount even after paying this charge.
4. Enjoy the discount and cheers to all.
Bhaiyo anyone who has successfully & recently done all these above steps kindly confirm and tell if there are any changes to it.
1. First requirement is that your billing cycle date should be atleast 7 days from your transaction date, so that you get time to cancel it.
2. Buy whatever product you want with maximum EMI discount given. (No Cost tenure)
3. As soon as the transaction is settled, call the respective bank customer care number and ask them to close the EMI citing any plausible reason.
3. As informed by members that most of the charges are reversed (Only the GST component of 2-3 days is not reversed). So you still get substantial discount even after paying this charge.
4. Enjoy the discount and cheers to all.
Bhaiyo anyone who has successfully & recently done all these above steps kindly confirm and tell if there are any changes to it.
Robin Thakral
TF Buzz
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.
- 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.
- 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.
- 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.
messypenguin
TF Select
Can anyone please confirm if this is still working with Airtel axis or axis Neo bank credit card?
Last edited:
MrStillLearning
TF Neo
Does anybody know if no cost EMI cancellation without charges work with Yes Bank credit cards? I can't find anything related to the Yes Bank cards. Thank you.
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