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.

 

[lonewolf]

Still SBI TRICK IS WORKING

 

[Hemang]

Still SBI TRICK IS WORKING

Bhai puch raha hai ya bata rahe ho ?

 

[lonewolf]

Puch raha hu

 

[MrWick]

Bhai puch raha hai ya bata rahe ho ?

Puch raha hu

Yes, still working

 

[Hemang]

Steps to be followed for Availing No Cost EMI Discount are as follows -
1. Buy whatever product you want with maximum EMI discount given. (No Cost tenure)
2. As soon as you complete the transaction, pay the outstanding amount in you SBI credit card.
3. This would not allow the SBI card to convert the transaction into EMI due to no outstanding amount pending in your account. (The confirmation message comes in about 10 days to your registered mobile number).
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.

 

[Hemang]

Although i have a query, many times longer tenure like 15 months has more discount but it charges interest upto 18% in some cases, so we should opt for 12 months which has no interest charged but lesser discount.
So which option we need to opt for 18 months (with interest but more discount) or 15 months (no interest less discount) ?

 

[anantnitish]

Is it still working?

 

[monirul]

Sharing an interesting observation.
For sbi card if your current outstanding balance is in negative 90-95% of txn, i.e. prepaid more than the enough amount in advance at the time of giving otp doing an emi txn, they will only make emi on that small part which you can ask to advanced foreclosure the extra fee would be minimal.

Example
credit limit 50k, current outstanding 0
pay bill of 40k, current outstanding -40k
do emi txn of principal value 41k,
sbi will process the emi on outstanding 1k only, which can be closed by paying fees. Total extra expenses <= 500₹, plus can also pocket the no cost emi discount :⁠)

I've done this few times, it worked perfectly.

Are you sure it's work like that?

 

[monirul]

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

Try sbi yono app if you have sbi bank account and it will work 100℅