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℅

 

[monirul]

Very special thanks to @tbk

This trick has worked very well for me

As i paid even more than the txn amount to sbi card, no emi conversion happened at all
Its 7 days post transaction, no emi processed till date, also i am maintaining no outstanding on my card so don't think any emi conversion will happen now

Saved 5400 because of this trick

View attachment 32981

Once again thanks @tbk

It's doesn't work for me. Don't know why but it may be I delayed to clear outstanding balance.
Look, I placed order on 29 oct and paid all outstanding dues 31 oct . Order amount was 10641 and some other dues in total 19150. Which I clear 31 oct. Again there wasn't any transactions like 'CREDIT FOR MERCHANT EMI BOOKED' or 'TRANSFER TO MERCHANT EMI' when I clear all outstanding see the screenshot

 

[MrWick]

It's doesn't work for me. Don't know why but it may be I delayed to clear outstanding balance.
Look, I placed order on 29 oct and paid all outstanding dues 31 oct . Order amount was 10641 and some other dues in total 19150. Which I clear 31 oct. Again there wasn't any transactions like 'CREDIT FOR MERCHANT EMI BOOKED' or 'TRANSFER TO MERCHANT EMI' when I clear all outstanding see the screenshot

You delayed the payment. It was to be paid immediately on same day for emi cancellation to happen

 

[MrJJ]

It's doesn't work for me. Don't know why but it may be I delayed to clear outstanding balance.
Look, I placed order on 29 oct and paid all outstanding dues 31 oct . Order amount was 10641 and some other dues in total 19150. Which I clear 31 oct. Again there wasn't any transactions like 'CREDIT FOR MERCHANT EMI BOOKED' or 'TRANSFER TO MERCHANT EMI' when I clear all outstanding see the screenshot

You've contributed to "Methods that don't work".

 

[monirul]

You delayed the payment. It was to be paid immediately on same day for emi cancellation to happen

May be. Now I cancelled the order
My outstanding is negetive
And order again let's see what happened

Also I tried second method which is MADE TNX 1DAY BEFORE BILL GENERATE DATE. Guess what. Which also not worked for me