Information regarding phone on emi closer charges

[PANK]

I purchased a phone on emi of 24 Months from Flipkart
After paying emi of 13 months
I want to close my emi now
Please share what changes are applied for this conditions

 

[PANK]

Anyone know about axis charges on emi pre closure on credit card

I was told by a person that after 12 Months bank doesn't change you for foreclosure on emi via credit card
Is it true

Please confirm
It will help a lot

 

[romilq]

It depends on the EMI letter you got when availing EMI offer. I took an iPhone on EMI too and foreclosed it after 3 EMIs. I wasn’t charged any foreclosure fee as it was mentioned in EMI letter itself that 0% foreclosure charges. Check your email for the EMI letter when you availed EMI. Otherwise you can ask customer care.

 

[PANK]

It depends on the EMI letter you got when availing EMI offer. I took an iPhone on EMI too and foreclosed it after 3 EMIs. I wasn’t charged any foreclosure fee as it was mentioned in EMI letter itself that 0% foreclosure charges. Check your email for the EMI letter when you availed EMI. Otherwise you can ask customer care.

There is 3% mentioned
I want to know if i close it they will change only 3% on spend amount or 12% +3%

 

[hks789]

There is 3% mentioned
I want to know if i close it they will change only 3% on spend amount or 12% +3%

It is usually x% of the outstanding amount

 

[PANK]

It is usually x% of the outstanding amount

Please elaborate i am unable to understand it

 

[romilq]

Please elaborate i am unable to understand it

If the current outstanding is 30k then 3% on that 30k.

 

[PANK]

If the current outstanding is 30k then 3% on that 30k.

That means no pre closure charges principal amount+interest i have to pay
Right

 

[SaiyamK]

That means no pre closure charges principal amount+interest i have to pay
Right

I don't think so you have to pay remaining interest since you are foreclosing.

 

[invisible]

When does NCEMI processing begin, before or after delivery? The package is still in transit, and it will be delivered only on October 19th.

The bill will be generated on October 17th. When should I request to cancel NCEMI, before October 16th or after delivery on October 19th?

 

[invisible]

When does NCEMI processing begin, before or after delivery? The package is still in transit, and it will be delivered only on October 19th.

The bill will be generated on October 17th. When should I request to cancel NCEMI, before October 16th or after delivery on October 19th?

Guys Help please 🙁

 

[Kiranonlinee]

When does NCEMI processing begin, before or after delivery? The package is still in transit, and it will be delivered only on October 19th.

The bill will be generated on October 17th. When should I request to cancel NCEMI, before October 16th or after delivery on October 19th?

Emi calculation is independent of delivery of the product, once the transaction is successful bank will convert it into emi with in a week or so. Earlier banks didn't charged for emi cancellation now they have started charging for cancellation as well. Check with your bank

 

[Rahul Gupta]

When does NCEMI processing begin, before or after delivery? The package is still in transit, and it will be delivered only on October 19th.

The bill will be generated on October 17th. When should I request to cancel NCEMI, before October 16th or after delivery on October 19th?

Guys Help please 🙁

You can cancel emi within 14days of conversion without any charges. but only few banks allow merchant emi cancellation.

First tell me which banks card did you use.

Usually emi is converted within 3 days.

Tip- If its sbi cc then cancel order asap as they won't cancel the emi.

 

[invisible]

Apologies for not mentioning the bank name: Axis Bank

 

[Rahul Gupta]

Apologies for not mentioning the bank name: Axis Bank

Ask their customer care about cancellation and do update us.