Unable to find any other common thread for all banks. So, creating this as Master Wiki thread. Feel free to modify or add additional bank details.
1. ICICI
After EMI conversion, Request customer care to Cancel EMI. Immediate Cancellation.
Cancel within 15 days.
No charges, Processing fee reversed.
2. Axis
Same as ICICI
Cancel with in 30 days.
No charges, Processing fee reversed.
3. BoB
After EMI conversion, mail them at crm at bobfinancial dot com
Charges - 199 + 35
Tip - Request for Cancellation as soon as transaction converted to EMI as INTREST is charged on daily basis.
4. SBI
Call CC and request.
Charges vary from 0 to 199 for processing fee + GST + 3.54% of outstanding Amount.
Trick - Make outstanding balance in your card 0 after transaction and before EMI conversion, in this case Transaction won't get converted to EMI.
5. HDFC
Login to mycards request for Cancellation from there.
Charges - only 35 rs. ( processing fee of 199 is reversed )
Tip 1 - Never make EMI transaction on HDFC cc if your billing date is within 7 days coz if first EMI is billed, then processing fee is not Reversed.
Tip 2 - After EMI Cancellation, HDFC ask us to pay outstanding within 24 hours but if not done there is also no issues. ( self tested )
HDFC, currently charging pre-clossure charges for canceling NCEMI transactions, before billing only.
But several users updated about this, in TF
*Might few people have exceptions.
6. Kotak
After EMI conversion, first pay the Principal amount in Card, then call cc for Cancellation.
Charges - All charges Reversed Except GST component.
Tip - Always select Highest time Duration of EMI to make the GST component small.
1. ICICI
After EMI conversion, Request customer care to Cancel EMI. Immediate Cancellation.
Cancel within 15 days.
No charges, Processing fee reversed.
2. Axis
Same as ICICI
Cancel with in 30 days.
No charges, Processing fee reversed.
3. BoB
After EMI conversion, mail them at crm at bobfinancial dot com
Charges - 199 + 35
Tip - Request for Cancellation as soon as transaction converted to EMI as INTREST is charged on daily basis.
4. SBI
Call CC and request.
Charges vary from 0 to 199 for processing fee + GST + 3.54% of outstanding Amount.
Trick - Make outstanding balance in your card 0 after transaction and before EMI conversion, in this case Transaction won't get converted to EMI.
5. HDFC
Charges - only 35 rs. ( processing fee of 199 is reversed )
Tip 1 - Never make EMI transaction on HDFC cc if your billing date is within 7 days coz if first EMI is billed, then processing fee is not Reversed.
Tip 2 - After EMI Cancellation, HDFC ask us to pay outstanding within 24 hours but if not done there is also no issues. ( self tested )
HDFC, currently charging pre-clossure charges for canceling NCEMI transactions, before billing only.
But several users updated about this, in TF
*Might few people have exceptions.
6. Kotak
After EMI conversion, first pay the Principal amount in Card, then call cc for Cancellation.
Charges - All charges Reversed Except GST component.
Tip - Always select Highest time Duration of EMI to make the GST component small.
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