Kotak credit card full bill generated before EMI creation!

[romilq]

So I bought an item from Samsung on 23rd on EMI for 95k and my billing date is 25th of every month. Today I can see bill generated for full amount of 95k since EMI creation will take 2-3 days more. What am I supposed to do now ?​

 

[4uziaul]

So I bought an item from Samsung on 23rd on EMI for 95k and my billing date is 25th of every month. Today I can see bill generated for full amount of 95k since EMI creation will take 2-3 days more. What am I supposed to do now ?​

Pay minimum amount and hopefully it will be adjusted with the next statement. You can also confirm the same with customer care.

 

[VISHESH_BANSAL]

So I bought an item from Samsung on 23rd on EMI for 95k and my billing date is 25th of every month. Today I can see bill generated for full amount of 95k since EMI creation will take 2-3 days more. What am I supposed to do now ?​

Are you going to cancel it for availing NCEMI DISCOUNT ??

 

[romilq]

Are you going to cancel it for availing NCEMI DISCOUNT ??

No. Vo kya hota hai ? I already got NCEMI. Why to cancel ? To save processing fees ? I didn’t plan on doing that. But instant discount 12k ka sirf EMI pe tha isliye EMI karwana pada.

 

[VISHESH_BANSAL]

No. Vo kya hota hai ? I already got NCEMI. Why to cancel ? To save processing fees ? I didn’t plan on doing that. But instant discount 12k ka sirf EMI pe tha isliye EMI karwana pada.

You got NCEMI, so Either Interest Amount was deducted upfront or will be given as cashback later.
In your Case How adjustment for Interest was made ??

 

[0xfallup]

No. Vo kya hota hai ? I already got NCEMI. Why to cancel ? To save processing fees ? I didn’t plan on doing that. But instant discount 12k ka sirf EMI pe tha isliye EMI karwana pada.

Bhai tu cancel karwa sakta hai and one shot pay kar sakta hai … you will still get 12k discount

 

[romilq]

You got NCEMI, so Either Interest Amount was deducted upfront or will be given as cashback later.
In your Case How adjustment for Interest was made ??

Merchant will give back after 3 months.

 

[romilq]

Bhai tu cancel karwa sakta hai and one shot pay kar sakta hai … you will still get 12k discount

To save processing fees ?

 

[0xfallup]

To save processing fees ?

to get discount and yes to save fees also

 

[VISHESH_BANSAL]

Merchant will give back after 3 months.

Then continue with EMI since interest will be received as cashback.

No guarantee after cancellation you will receive it or not.

Since Bill is generated Pay the Minimum Amount Due and talk to customer Care too about this situation when Txn is actually Converted in EMI

 

[romilq]

Then continue with EMI since interest will be received as cashback.

No guarantee after cancellation you will receive it or not.

Since Bill is generated Pay the Minimum Amount Due and talk to customer Care too about this situation when Txn is actually Converted in EMI

Hmm. I have heard of people doing this in HDFC and ICICI. Recently they fixed this loophole too if I am not wrong. Vaise I have done EMI with ICICI and HDFC too in the last few months. But never canceled for additional benefit. Yaha to Chortak ki baat hai. Saala 12k waala instant discount bhi cancel kar diya to mehenga pad sakta hai.

 

[0xfallup]

Hmm. I have heard of people doing this in HDFC and ICICI. Recently they fixed this loophole too if I am not wrong. Vaise I have done EMI with ICICI and HDFC too in the last few months. But never canceled for additional benefit. Yaha to Chortak ki baat hai. Saala 12k waala instant discount bhi cancel kar diya to mehenga pad sakta hai.

bro when pro's say something , just trust it and don't question

 

[imdjay]

bro when pro's say something , just trust it and don't question

Nopes. He should do what he feels is right. Kuch bhi galat hua toh not a single pro will pay his bill. lol

 

[0xfallup]

Nopes. He should do what he feels is right. Kuch bhi galat hua toh not a single pro will pay his bill. lol

kya galat hoga isme , ncemi cancel honi hai @VISHESH_BANSAL ne 2-3 days phle kiya hai and he verified ... cc use karte ho aur ncemi cancel nhi kar sakte toh ___

 

[imdjay]

kya galat hoga isme , ncemi cancel honi hai @VISHESH_BANSAL ne 2-3 days phle kiya hai and he verified ... cc use karte ho aur ncemi cancel nhi kar sakte toh ___

not saying ki galat hi hoga but. ager wo khud nahi kerna chahta toh . itna confidence nahi dena chahiea. chalte chalte logo ko kuch bhi ho jaata hai. isme to bahut saari possibilities hain galat hone ki.

 

[Strange]

Then continue with EMI since interest will be received as cashback.

No guarantee after cancellation you will receive it or not.

Since Bill is generated Pay the Minimum Amount Due and talk to customer Care too about this situation when Txn is actually Converted in EMI

Kotak emi cancellation is free? Do they reverse all charges including gst?

 

[VISHESH_BANSAL]

Kotak emi cancellation is free?

Yes. Need to Pay Upfront Exact Txn Amount , then only Excecutive will take cancellation Request, if he see a credit entry of same amount either as refund or repayment.

Do they reverse all charges including gst?

Excluding GST

 

[Anil_Singh]

As far as I know, total amount will be credited back and then debited again for emi conversion. So, your bill amount should come down when that happens. Outstanding amount will include this amount as well along with other transactions. But bill will get generated with EMIs. Correct me if I am wrong.

 

[romilq]

As far as I know, total amount will be credited back and then debited again for emi conversion. So, your bill amount should come down when that happens. Outstanding amount will include this amount as well along with other transactions. But bill will get generated with EMIs. Correct me if I am wrong.

Let’s see. Right now it shows full bill generated. When EMI conversion happens in next few days I will contact them.

 

[suraj98]

What happened you didnt said i am in a same situation with kotak bank too