How to cancel no cost emi on a merchant transaction on SBI CC

[realReXishere]

Hi, I recently did an EMI transaction on Amazon and contacted SBI CC to cancel the emi. Then I got this response.

Is there a way to cancel the merchant emi and save on interest?

Please advise.

 

[MrWick]

Any way to pay in excess??

just keep it zero. it will work

 

[Juganta]

How to make balance negative
No app is allowing to pay more than outstanding balance

Just pay Maximum allowed payment.

 

[Akr706]

I don't think it will work now. It might work if you make a purchase and then IF (a big IF) SBI lets you pay the outstanding amount right after the purchase.

 

[tbk]

This trick still working, used for Amazon nc emi on 26 sept

 

[mohit.taparia20]

This trick still working, used for Amazon nc emi on 26 sept

Hi ,

Do you mind telling how you made the payment. As in which platform? Credit/cheq ? Also.were.you abel to pay in excess as other OP'Ss have suggested . Plz advise. I have bought a tv at NCEMI. want to cancel.the no cost emi now after availing the discount

 

[RaviAglRaviAgl is verified member.]

Hi ,

Do you mind telling how you made the payment. As in which platform? Credit/cheq ? Also.were.you abel to pay in excess as other OP'Ss have suggested . Plz advise. I have bought a tv at NCEMI. want to cancel.the no cost emi now after availing the discount

Generally, if there is cashback involved while doing the transaction, there is a foreclosure fee of 3% if you decide to cancel the EMI transaction.

Earlier, there was no such fee and this has just been introduced say some 60 days from now. Banks became aware of this loophole and decided to plug it as card holders exploited it to the fullest potential.

So, I would suggest that you read the transaction terms and conditions before going for cancellation.

Thanks!!