Regarding No Cost EMI discount

[devsfinance]

After reading a post here related to discount of interest amount I had ordered a phone recently in BBD as I was getting option of No COST EMI. However when I went to pre - closing option in mycards ->linked EMI I saw that it’s charging me full amount (i.e. total amount of phone) + some interest for a few days and GST. But according to here it should be amount - discount.

When I calculated So I checked and found that flipkart has charged full amount also there is some interest so I am actually paying 1.6k more as interest then how is it No Cost EMI? Or I am missing something here?

Please suggest what should I do or am I missing something here?

 

[Deepak_Shetty]

After reading a post here related to discount of interest amount I had ordered a phone recently in BBD as I was getting option of No COST EMI. However when I went to pre - closing option in mycards ->linked EMI I saw that it’s charging me full amount (i.e. total amount of phone) + some interest for a few days and GST. But according to here it should be amount - discount.

When I calculated So I checked and found that flipkart has charged full amount also there is some interest so I am actually paying 1.6k more as interest then how is it No Cost EMI? Or I am missing something here?

Please suggest what should I do or am I missing something here?

You must have got this interest amount as upfront discount during purchase. Check in flipkart order history.

 

[devsfinance]

You must have got this interest amount as upfront discount during purchase. Check in flipkart order history.

I was also having this in mind that I will get that discount but I don’t think I got that in EMI in statement * 6 includes interest part.

 

[Deepak_Shetty]

I was also having this in mind that I will get that discount but I don’t think I got that in EMI in statement * 6 includes interest part.

No cost EMI is available only for certain installment (3,6,9 or more depends on product). Have you choose other than those instalment?

 

[devsfinance]

No cost EMI is available only available for certain installment only (3,6,9 or more depends on product). Have you choose other than those instalment?

Yes I had chosen 6 months only In fact when I called Flipkart even the customer care representative said I had bought in No Cost EMI.