https://www.desidime.com/comments/permalink/10382653
Fxxker Flipkart cancelled tv order on ncemi today and I already cancelled ncemi 2 days back ...what wub be implication?
No cost EMI Cancellation Guide.
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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/comments/permalink/10383391
How much time it will take to refund processing fees in HDFC?
https://www.desidime.com/comments/permalink/10388063
Can you explain the trick in simple.
We order something with NCEMI discount.
After ordering, we have to make outstanding balance of sbi cc to zero.
this is it?? or anything else?
When and how will I get the confirmation that trick has worked?
We order something with NCEMI discount.
After ordering, we have to make outstanding balance of sbi cc to zero.
this is it?? or anything else?
When and how will I get the confirmation that trick has worked?
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https://www.desidime.com/comments/permalink/10389312
Sbi worked. Made full payment as per the available due on BBPS portal within 24 hours, for some it worked even on next day.
Kotak also worked. Called and got it canceled. But they don't reverse gst on conversion charge and gst on first month EMI. Approx 150rs on 40K txn. It's fine.
HDFC worked too. Canceled from mycards, even though it showed interest, they didn't charge anything apart from gst on conversion charge which is mere 70rs approx.
https://www.desidime.com/comments/permalink/10404552
Check DM, Help me please for SBI CC No cost emi
https://www.desidime.com/comments/permalink/10389341
There is no information about how many NCEMI transactions were canceled!
https://www.desidime.com/comments/permalink/10390803
Was any processing fee or GST charged? What about reward points?
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https://www.desidime.com/comments/permalink/10397421
Is it possible to cancel the No Cost EMI with RBL Bank, similar to how it works with ICICI, HDFC, and Axis banks? In those banks, after cancelling the EMI, we can avail the upfront discount.
Can the same be done with RBL Credit Card?
https://www.desidime.com/comments/permalink/10399129
Can anyone please confirm if it's still working with axis cards? and when was it done.
https://www.desidime.com/comments/permalink/10399471
I tried SBI ncemi trick. I did pay the amount and made the outstanding 0, but still I received the message about emi generation today. I bought a TV on Amazon at ≈32k fyi.
Can anyone guide me further? Should I get it cancelled by customer care? How much will be the charges?
https://www.desidime.com/comments/permalink/10399476
After making outstanding 0, did you do any other transactions or purchases on the same SBI card? Until the time the EMI formed, the entire time total outstanding was 0?
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https://www.desidime.com/comments/permalink/10402662
App is not working? Some people said there is in app option too.
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https://www.desidime.com/comments/permalink/10404438
Yesterday, I purchased something at NCEMI through my axis cc. Now I want to cancel NCEMI. Please suggest when should I cancel it. My billing date is 15.
https://www.desidime.com/comments/permalink/10404988
After it is converted to emi, keep checking unbilled transactions.
https://www.desidime.com/comments/permalink/10431299
@some1anywhere I am planning to buy laptop on TATA NEU Croma 40k with NC EMI. Do we get neu coins for Infinity card usage for EMI transaction? If I cancel EMI, will I get 750 + 5% neo coins?
https://www.desidime.com/comments/permalink/10502699
What if I purchase with axis credit ace/myzone card and cancel the emi? I am getting 16% rate. Will they charge if cancelled emi plan, please suggest..it is not a nocost emi...its simple emi.
https://www.desidime.com/comments/permalink/10504782
They'll Not Charge Anything, Contact Customer Care For Confirmation
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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
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