curios_mind_huh
TF Select
I am trying to get a new product (Samsung Tab S9 ultra) from Tata Neu at Rs.98,099. HDFC has a Rs.12,000 instant discount on top of it for No-Cost EMI option. For the highest tenure of 18 months, I should get a further discount of Rs.9427 for interest charged (image below):
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But when I went ahead to the payment page (image below), it was asking me to pay Rs.86,099 without the discount for emi interest. Normally when I go for a no-cost emi on other sites, they provide the no-cost emi interest as an upfront discount as well. I checked this case with Flipkart for the same product as well. But I couldn't see it replicated in this case for Tata Neu (or Croma I guess).
So, Will the emi interest of Rs.9427 be reversed after completing my payment? If so, When can I expect this amount being credited to my card? My motivation here is to cancel the no-cost emi citing some reasons right after I get the emi interest credited. I know there might be foreclosure charges with HDFC, but I assume that would be far lesser than the Rs.9427 discount I'm getting. Are there any edge cases here I'm missing here?
Update to everyone: Croma credited back the original Rs.86,099 within 3 days and after then, HDFC made a emi with principal of Rs.76,671 (86,099 - No Cost Discount).
I called HDFC two days back to cancel the EMI citing I wasn't aware of the GST on interest portion. They cancelled the EMI today and reversed the processing fee as well. GST on the 199 processing fee wasn't removed though. All in all, I got a great deal.
tBut when I went ahead to the payment page (image below), it was asking me to pay Rs.86,099 without the discount for emi interest. Normally when I go for a no-cost emi on other sites, they provide the no-cost emi interest as an upfront discount as well. I checked this case with Flipkart for the same product as well. But I couldn't see it replicated in this case for Tata Neu (or Croma I guess).
So, Will the emi interest of Rs.9427 be reversed after completing my payment? If so, When can I expect this amount being credited to my card? My motivation here is to cancel the no-cost emi citing some reasons right after I get the emi interest credited. I know there might be foreclosure charges with HDFC, but I assume that would be far lesser than the Rs.9427 discount I'm getting. Are there any edge cases here I'm missing here?
Update to everyone: Croma credited back the original Rs.86,099 within 3 days and after then, HDFC made a emi with principal of Rs.76,671 (86,099 - No Cost Discount).
I called HDFC two days back to cancel the EMI citing I wasn't aware of the GST on interest portion. They cancelled the EMI today and reversed the processing fee as well. GST on the 199 processing fee wasn't removed though. All in all, I got a great deal.
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