Amazon is offering a no-cost EMI during the Great Indian Festival Sale starting from 17th October 2020. This offer is available on all the major Debit cards, Credit cards, and Bajaj Finserv EMI card.
Amazon buyers can buy during the sale and make the payment later with easy installments. The offer is valid on a maximum purchase of rupees 1 lakh made during the Great Amazon Festival Sale.
How To Avail Of No-Cost EMI Offers During The Great Amazon Festival Sale?
- Shop from Amazon during the sale, starting from 17th Oct
- Check the no-cost EMI option and the availability of your card in the product description
- Choose a suitable monthly EMI plan and complete your payment using your debit/credit card, Bajaj Finserv EMI card.
How Does The Amazon Great Indian No-Cost EMI work?
With no-cost EMI, you can purchase items on EMI but with no additional interest or down payment.
Your bank will discount the amount of interest that you would have to pay without the no-cost EMI. The rest of the amount needs to be paid to the bank as per the EMI scheme.
With 4 to 7 working days, the bank reverses the amount deducted and converts it into EMI. As you continue paying your monthly EMI, your credit is released.
Remember, the no-cost EMI option comes with selected products and sellers. You will find the EMI availability on the product description page.
No-Cost EMI, Debit/Credit Cards:
Frequently Asked Questions
Choose your product and look at the product description page for Debit EMI option
If the product that you have selected is eligible for Debit EMI, it will show “Debit EMI” under the EMI option from where you can check the available EMI plans
Now add the product to your cart and move forward with the steps to the payment page. Here, you need to select the “ EMI Menu” option and add or choose your Debit card for the payment.
Select your monthly Debit EMI plans and make the payment.
Your bank account will not be debited. Your bank has pre-approved of a loan which you will pay from now as monthly installments depending on your EMI scheme.
The rule is you have to make the entire payment using the Debit EMI option, which in your case, is 40,000. Your bank will deduct the monthly amount set by the EMI scheme that you have selected.
You will receive an email/SMS from your bank confirming whether you are eligible for Debit EMI.
The first installment is charged after 30 days from the date of purchase.
Some selected products offer no-cost EMI on Debit Card payment. To find out whether your product is available for no-cost Debit EMI, look for EMI plans and offers on the product description page.
If your product is eligible for cancellation or return, you can cancel your order or request a return within 30 days from the date of purchase. Your bank will automatically cancel EMI plans. Keep in mind that your bank may charge cancellation fees.
Your bank will initiate a refund, and the EMI amount will be recalculated based on the new order price.
Your bank will auto-apply standing instruction on your SB bank account to facilitate the deduction of monthly EMI payments. For this, you have to maintain sufficient balance in your SB bank account. In case you want to pay the installments earlier, you can ask your bank for so. Your bank will close the EMI even levy the additional charges.
You don’t need to pay any extra amount to avail Debit EMI options. But. The bank will charge you interest over the monthly installment, which you have to pay. The interest rates are built into the monthly installment amount. You can see the monthly installment plans available for Debit EMI on the product description page.
If you are using HDFC/Kotak debit card for the Debit EMI, you will be charged ₹199 as the processing fee. For the ICICI bank debit card, the processing fee is ₹99, added to your first EMI. Axis bank deducts a minimum of ₹99 as a transaction fee and a maximum of 1% of the ordered price.