https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10182002
RBL CC NCEMI Cancellation method still laughing in the corner...
No cost EMI Cancellation Guide.
- 20796
- 237
-
- Last Comment
1. ICICI
After EMI conversion, Request customer care to Cancel EMI. Immediate Cancellation.
Cancel within 15 days.
No charges, Processing fee reversed.
2. Axis
Same as ICICI
Cancel with in 30 days.
No charges, Processing fee reversed.
3. BoB
After EMI conversion, mail them at crm at bobfinancial dot com
Charges - 199 + 35
Tip - Request for Cancellation as soon as transaction converted to EMI as INTREST is charged on daily basis.
4. SBI
Call CC and request.
Charges vary from 0 to 199 for processing fee + GST + 3.54% of outstanding Amount.
Trick - Make outstanding balance in your card 0 after transaction and before EMI conversion, in this case Transaction won't get converted to EMI.
5. HDFC
Login to mycards request for Cancellation from there.
Charges - only 35 rs. ( processing fee of 199 is reversed )
Tip 1 - Never make EMI transaction on HDFC cc if your billing date is within 7 days coz if first EMI is billed, then processing fee is not Reversed.
Tip 2 - After EMI Cancellation, HDFC ask us to pay outstanding within 24 hours but if not done there is also no issues. ( self tested )
6. Kotak
After EMI conversion, first pay the Principal amount in Card, then call cc for Cancellation.
Charges - All charges Reversed Except GST component.
Tip - Always select Highest time Duration of EMI to make the GST component small.
Suggestions are welcome.
You may add more banks in Comments, i will add in main thread.
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10192720
Means what bro? They still have charges?
View 4
more replies
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10190693
For Sbi Debit card any?
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10198577
Why HDFC is asking for pre closure charges for 9 month no cost emi Amazon
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10198902
Close it through My Cards app
View 9
more replies
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10219921
How to make advance bbps cc bill payment when bill is not.due using HDFC dc?
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10223342
HDFC is asking 3% pre closure charge this time in my cards site. It never asked anytime before. Ordered on 20th july. Any solution to avoid pre closure?
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10234238
Call and close thats all
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10225981
HDFC NCMI Trick Still works. Just an update to bump up this thread.
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10244277
Anyone recently test hdfc and bob emi cancel trick?
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10248764
Guys did anyone tried debit card emi cancellation? I did credit card emi cancellation and it worked but would like to know if the same procedure can be applied for debit card?
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10263318
BOB TnC says this:
Pre-closure fee of 3% or a minimum of Rs.100/- shall be levied on the principal outstanding amount if the card /EMI facility is closed before the expiry of the EMI tenure.
But if any dimer tried/tested if they charge as per this ?
Pre-closure fee of 3% or a minimum of Rs.100/- shall be levied on the principal outstanding amount if the card /EMI facility is closed before the expiry of the EMI tenure.
But if any dimer tried/tested if they charge as per this ?
View 1
more reply
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10282999
Federal banks charges a whooping 1% as a processing fee, and a 3% foreclosure fee... Had done a 1L NC-EMI transaction, got charged 1K just as processing fees itself... Other banks in general charge some 199 or so which is fixed, but for Federal it's 99 or 1%, whichever is higher XD
https://www.desidime.com/discussions/no-cost-emi-cancellation-guide?page=3#post_10284307
Hey thank you for letting the community know. Appreciate it. Although it's no consolation, I hope you get back the 1% processing fee by paying its bill via some debit card that gives back the 1%.
So far I've found only HDFC, Axis, ICICI, Kotak are friendly for canceling NC EMI. And SBI trick works if all dues fully paid. BOB, OneCard, RBL, IDFC, Yes Bank and Federal are greedier banks
So far I've found only HDFC, Axis, ICICI, Kotak are friendly for canceling NC EMI. And SBI trick works if all dues fully paid. BOB, OneCard, RBL, IDFC, Yes Bank and Federal are greedier banks
Click here to reply
Reply
This trick works in offline also?
Yes. I tried Axis ace and HDFC Tataneu infinity. All charges reversed and reward points are given too
ONE CARD is worst in EMI Cancellation.
They wont cancel EMI until 1st EMI is updated in statement.
When you call them again after 4-5 days, they wont reverse Interest charged on 1st EMI+ Processing Fees + GST
I'm also looking for answer
Contacted customer care. HSBC does not have any option for emi cancellation.
You can only pre close it by paying 3% extra.