https://www.desidime.com/comments/permalink/10255815
Doubts related to no cost emi cancellation on HDFC tataneu card
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I did ~52k transaction on samsung store website from my HDFC tataneu card. Opting for EMI was fetching me 6k discount on the product. Overall product was 60k, emi was giving 6k discount and ~2k were deducted to compensate interest on emi since this was no cost emi (60k-6k-2k = 52k). I am planning to cancel this emi as soon as transaction is converted to emi. I have few doubts in the process if someone can please clear.
1) What are the additional charges I need to pay for preclosing the emi. My order will then effectively cost me 52k + additional charges to cancel EMI.
2) Shall I cancel the EMI as soon as transaction is converted to EMI (generally takes 2-3 days) or is it possible to cancel even before that?
3) Since this was tatanue infinity card which yields 1.5% on every online transaction, overall cashback in this case would be Rs 780. Will I be getting this cashback amount if I cancel EMI and pay overall outstanding payment in one go? Will the cashback get credit in this month's statement itself?
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https://www.desidime.com/comments/permalink/10255871
.. Cancellation of emi is only possible after EMI conversion.
.. Cancel it thru mycards app or by calling cc
.. I'm not sure of status of neucoins on EMI cancellation.
.. my cards app might show pre-closure charges but as far as my experience goes all charges will be reversed except GST of around 37 rs.
https://www.desidime.com/comments/permalink/10255923
Charges = Rs 35 (gst on processing fee non reversable)+ little amount of interest according to the time taken to foreclose emi.
So, Total approx 50 rs charges if foreclosed instantly after conversion.
(If unfortunately, bill is generated b/w emi conversion date and emi foreclosure date, then processing fee of 199 also non-reversable)
Yes you will earn 1.5% neucoins.
https://www.desidime.com/comments/permalink/10255943
I saw a few threads where dimers mentioned they dont get reward points for foreclosed emi. Is that not the case for tata neu card? If so, then will I receive 780 neucoins in next cycle itself?
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https://www.desidime.com/comments/permalink/10256943
1. Charges are around 35₹ which is the GST on the processing fee.
2. Yes. All fees will be reversed except GST. Cancel EMI the moment transaction is converted to EMI and showing in MYCARDS or you get an email.
3. Yes. You will get neucoins on the cancelled EMI. I got it too for a cancelled EMI on an iPhone purchase from Croma offline store.
https://www.desidime.com/comments/permalink/10271581
@bella_ciao
how did you cancelled NCEMI and any other details please.
https://www.desidime.com/comments/permalink/10271767
1) It took 5 days in my case for converting the transaction to EMI and show up in mycards/hdfc app
2) Once EMI is reflected on app, we can apply for pre closure of EMI next day. You can cancel that from mycards url (https://mycards.hdfcban...m/).
3) There was additional Rs 199 processing fees which was added after the pre closure. So total payable amount was Loan amount + 199.
2) Once EMI is reflected on app, we can apply for pre closure of EMI next day. You can cancel that from mycards url (https://mycards.hdfcban...m/).
3) There was additional Rs 199 processing fees which was added after the pre closure. So total payable amount was Loan amount + 199.
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https://www.desidime.com/comments/permalink/10319646
Answers my own questions:
1) Effective charges: <TransactionAmount> + 36 Rs (GST Charge) + Preclosure charge (25 Rs). All other charges were reverted back.
2) Cancel the EMI as soon as transaction is converted to EMI. Its took 5 days in my case. Not possible to cancel before that.
3) Received neucoins in month end statement after cancelling the EMI.
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Answers my own questions:
1) Effective charges: <TransactionAmount> + 36 Rs (GST Charge) + Preclosure charge (25 Rs). All other charges were reverted back.
2) Cancel the EMI as soon as transaction is converted to EMI. Its took 5 days in my case. Not possible to cancel before that.
3) Received neucoins in month end statement after cancelling the EMI.