Why IndusInd is so desperate for EMI Conversion?

[Chaitanya-a]

I literally get atleast 10 messages daily via SMS and Email from IndusInd to convert my purchase into EMIs.

Never seen any other bank being so desperate for EMIs. Frequency is so much so that it is sufficient to irritate even a patient person.

 

[RaviAglRaviAgl is verified member.]

Will let go card discounts but won't fall for this EMI shit. 😅

It does not work that way. There are 2 types of EMI, one is Bank EMI and other is Brand EMI. In Bank EMI, you pay full interest and in Brand EMI, you also pay full interest but Brand gives you a certain or complete discount on the interest portion (or reimburses you the interest part in the form of cashback).

The stores will also give you an instant discount or a a discount in the form of cashback. This cashback is different from interest cashback and maybe anywhere around 10% to 25%.

I know this because I am selling electronic goods under this method since the past 10 years.

Don't say no to Brand Emi as in the end you will benefit a lot. Yes, don't close your EMI loan account as there are heavy foreclosure charges.

 

[Rahul92]

It does not work that way. There are 2 types of EMI, one is Bank EMI and other is Brand EMI. In Bank EMI, you pay full interest and in Brand EMI, you also pay full interest but Brand gives you a certain or complete discount on the interest portion (or reimburses you the interest part in the form of cashback).

The stores will also give you an instant discount or a a discount in the form of cashback. This cashback is different from interest cashback and maybe anywhere around 10% to 25%.

I know this because I am selling electronic goods under this method since the past 10 years.

Don't say no to Brand Emi as in the end you will benefit a lot. Yes, don't close your EMI loan account as there are heavy foreclosure charges.

Yeah , i often use merchant emi / no cost emi on Amazon and Flipkart and i find it most useful to purchase costly products like appliances.

Last week i bought an ac. SBI was giving 2500 discount as such and 4000 discount on taking merchant emi.i took 9 month emi , this got a total discount of 4k + 2.8k ( emi interest discount).

 

[Chaitanya-a]

It does not work that way. There are 2 types of EMI, one is Bank EMI and other is Brand EMI. In Bank EMI, you pay full interest and in Brand EMI, you also pay full interest but Brand gives you a certain or complete discount on the interest portion (or reimburses you the interest part in the form of cashback).

The stores will also give you an instant discount or a a discount in the form of cashback. This cashback is different from interest cashback and maybe anywhere around 10% to 25%.

I know this because I am selling electronic goods under this method since the past 10 years.

Don't say no to Brand Emi as in the end you will benefit a lot. Yes, don't close your EMI loan account as there are heavy foreclosure charges.

Thanks for explaining all this but I'm well-off to say no to any kind of EMI.

 

[Patil007]

Thanks for explaining all this but I'm well-off to say no to any kind of EMI.

Lena padta he bhai, kabhi kabhi 🤣 . Paisa nahi hota to.

I brought laptop in 2019, 54K ka on Kotak EMI. Due to that record Kotak is not allowing me to open 811 account.😀

 

[Chaitanya-a]

Lena padta he bhai, kabhi kabhi 🤣 . Paisa nahi hota to.

I brought laptop in 2019, 54K ka on Kotak EMI. Due to that record Kotak is not allowing me to open 811 account.😀

That's what I'm saying ki agar emergency ho or wo cheez ki kaafi zarurt ho tbi lena chahiye.
Unnecessarily sirf discount ke liye EMI wagera ke jhanjhat me padta financial instability la skta h. Mental peace b gayab.

 

[panchabhut]

It does not work that way. There are 2 types of EMI, one is Bank EMI and other is Brand EMI. In Bank EMI, you pay full interest and in Brand EMI, you also pay full interest but Brand gives you a certain or complete discount on the interest portion (or reimburses you the interest part in the form of cashback).

The stores will also give you an instant discount or a a discount in the form of cashback. This cashback is different from interest cashback and maybe anywhere around 10% to 25%.

I know this because I am selling electronic goods under this method since the past 10 years.

Don't say no to Brand Emi as in the end you will benefit a lot. Yes, don't close your EMI loan account as there are heavy foreclosure charges.

For Brand EMI, Bank will charge Interest & GST while brand will reimburse interest only. So we end up paying the GST extra.

 

[Patil007]

That's what I'm saying ki agar emergency ho or wo cheez ki kaafi zarurt ho tbi lena chahiye.
Unnecessarily sirf discount ke liye EMI wagera ke jhanjhat me padta financial instability la skta h.

Yes, not for only discount. Big No.

 

[VISHESH_BANSAL]

Lena padta he bhai, kabhi kabhi 🤣 . Paisa nahi hota to.

I brought laptop in 2019, 54K ka on Kotak EMI. Due to that record Kotak is not allowing me to open 811 account.😀

Sometimes You get exceptional offers too.

In 2021, I purchased Refrigerator from Vijay Sales on EMI via Bajaj Finance at a Net Price of 23k.( After Bajaj Cashback)

Net Price of Same Refrigerator at Amazon was 28k(After Bank discount and Cashback).

I saved Rs.4000 just because of Choosing EMI option at Vijay sales.

@Chaitanya-a

Stiil you will ignore such Huge Discount and avoid doing purchases on EMI ?

Till date I never received single Spam or Marketing Call from Bajaj.
Do not why Bajaj has a negative image.

 

[kochiro]

 

[Patil007]

View attachment 12664

 

[kochiro]

Sometimes You get exceptional offers too.

In 2021, I purchased Refrigerator from Vijay Sales on EMI via Bajaj Finance at a Net Price of 23k.( After Bajaj Cashback)

Net Price of Same Refrigerator at Amazon was 28k(After Bank discount and Cashback).

I saved Rs.4000 just because of Choosing EMI option at Vijay sales.

Can you still ignore such Huge Discount and avoid doing purchases on EMI ?

Till date I never received single Spam or Marketing Call from Bajaj.
Do not why Bajaj has a negative image.

Bajaj have negative image coz you miss a emi or two and banks won't do much except ruining cibil. Bajaj orders goons to take away that product from your home.

 

[Patil007]

Sometimes You get exceptional offers too.

In 2021, I purchased Refrigerator from Vijay Sales on EMI via Bajaj Finance at a Net Price of 23k.( After Bajaj Cashback)

Net Price of Same Refrigerator at Amazon was 28k(After Bank discount and Cashback).

I saved Rs.4000 just because of Choosing EMI option at Vijay sales.

Can you still ignore such Huge Discount and avoid doing purchases on EMI ?

Till date I never received single Spam or Marketing Call from Bajaj.
Do not why Bajaj has a negative image.

Yes, for Laptop on Kotak EMI, I got 3K voucher of Myntra that time.

But, Yes, If I have money and there is EMI offer, I will choose to pay in full at once 🙏 .

 

[Patil007]

Sometimes You get exceptional offers too.

In 2021, I purchased Refrigerator from Vijay Sales on EMI via Bajaj Finance at a Net Price of 23k.( After Bajaj Cashback)

Net Price of Same Refrigerator at Amazon was 28k(After Bank discount and Cashback).

I saved Rs.4000 just because of Choosing EMI option at Vijay sales.

@Chaitanya-a

Stiil you will ignore such Huge Discount and avoid doing purchases on EMI ?

Till date I never received single Spam or Marketing Call from Bajaj.
Do not why Bajaj has a negative image.

Do not why Bajaj has a negative image: 🤣. Bhai roj call n sms ate he unlimited.

 

[Chaitanya-a]

Do not why Bajaj has a negative image: 🤣. Bhai roj call n sms ate he unlimited.

Literally I've seen heart wrenching experiences when bajaj goons visit someone's house to recover money.

 

[VISHESH_BANSAL]

Do not why Bajaj has a negative image: 🤣. Bhai roj call n sms ate he unlimited.

My Mobile Number and E-Mail ID are also registered with Bajaj.
But I never received such calls or SMS.

 

[Patil007]

My Mobile Number and E-Mail ID are also registered with Bajaj.
But I never received such calls or SMS.

I have Car insurance with them, so they have my data.

 

[Chaitanya-a]

My Mobile Number and E-Mail ID are also registered with Bajaj.
But I never received such calls or SMS.

Once I mistakenly downloaded Bajaj Markets to check credit score. After that day, they daily send me the message quoting "you haven't paid yet."
When I click on that link, what I found is their pre-filled invoice for some plan 😂

 

[VISHESH_BANSAL]

Literally I've seen heart wrenching experiences when bajaj goons visit someone's house to recover money.

To avoid such Actions Pay EMI on time.
Why to MIss an EMI when You know the end result.

 

[AsB]

They offered so many of their cards free of charges and now they have to make money desperately in one way or the other. So I guess they are counting on at least 10% of their email recipients to do it.

Dont think so. Their per card spends is more than even HdFC bank's card. Perhaps they are more desperate to earn even more money

 

[Patil007]

To avoid such Actions Pay EMI on time.
Why to MIss an EMI when You know the end result.