No cost EMI foreclosure charges

[c9646]

Hey guys. I just bought a phone from Flipkart yesterday for around Rs. 60K after 12 months NCEMI and other discounts.

I was wondering if I can pay the total balance right now before it gets converted to EMI. Will I still get the foreclosure charges? Will the Rs. 10K EMI discount that I got be reversed?

Has anyone done this? If yes, please help out.

 

[mokinjay]

If you are using HDFC credit card with upfront NC-EMI discount.

1. You can cancel the converted EMI from mycards within 3 days of EMI conversion (Better to track-cancel on the same or next day of EMI conversion)
2. You'll receive an email from hdfc team with the amount mentioned to pay
3. Pay the stated amount in email
NOTE: (All above steps should be done within 3 days of EMI conversion)
4. You will recieve the full refund within 3-7 days including Pre-Closure charges with gst, EMI conversion charges (Only gst on EMI conv will not reversed)

Mark it as a solution if this solves your query.

does this still work?

 

[rakhi]

does this still work?

No not work

 

[himanshverma]

What amount will be charged in this scenario from my card?

I m getting around 5000 discount

Even if they charge 3% foreclosure+ processing + gst it would be a profit of around 1500-2000

Can someone suggest? Or I am missing something

I am planning to use HDFC

 

[Aniket Sharma]

What amount will be charged in this scenario from my card?

I m getting around 5000 discount

Even if they charge 3% foreclosure+ processing + gst it would be a profit of around 1500-2000

Can someone suggest? Or I am missing something

I am planning to use HDFC

If its through pos machine they might track and also charge you the discount availed (I have heard of this but didn't experimented out yet)

 

[himanshverma]

If its through pos machine they might track and also charge you the discount availed (I have heard of this but didn't experimented out yet)

Yes it's via physical machine.
I asked them to send a link
And they did sent out a payment link
Which shows the total amount ( including interest as well)
I don't think in that case I will be able to get the benefit