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BoB EMI Query

So my friend swipe my select card for 37k, on 31st and BoB generate statement on 31st/1st. So I’m confused the transaction have converted into EMI, but my friend want me to call the cs and ask and where else I think my friend need to pay 37k and later the emi will be converted and credit would be there cause once statement is generated so what should i do here? call bob cs? all my friend is interested in 1406/- will be credited or not if he pay 37,000k IMG_4980.jpeg IMG_4979.png
 
Please inform your friend that the cashback will be adjusted against the statement, and it may take up to 90 days to reflect. There's no need to make any calls as your EMI will be processed automatically. 🤣
 
@VISHESH_BANSAL help me out here bro.
1.

Check in netbanking if 37k is reflecting in Paid Column or not .


Beacuse Now BOB Updated its system as per New RBI Guidelines and BOB is considering Refunds and Cashback Credits as Repayments.

2.
From Next Month Statement EMI Would be billed.

Its his choice he want to pay Whole Amount in One Shot or In the form of EMI.

I also do EMI txns for My friends but I take Monthly EMI from Them.

Beacuse Actual Payable Amount Includes Principal+Interest+GST on Interest.

In your case a part of Interest will be credited as CashBack, so when Cashback is Actually credited then transfer it to your Freind Account
 
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If you cancel the EMI, you will lose the cashback, and you will also be required to pay pre-closure charges. The pre-closure charges are not a significant amount.

But before making any decision, it's important to calculate how much you will save if you close the EMI compared to continuing with it.
 
1.

Check in netbanking if 37k is reflecting in Paid Column or not .


Beacuse Now BOB Updated its system as per New RBI Guidelines and BOB is considering Refunds and Cashback Credits as Repayments.

2.
From Next Month Statement EMI Would be billed.

Its his choice he want to pay Whole Amount in One Shot or In the form of EMI.
ON BOB Website it ask for 36,921 and i can't find any paid column.
2.
From Next Month Statement EMI Would be billed.

Its his choice he want to pay Whole Amount in One Shot or In the form of EMI. - the thing is EMI for 6month/38.525.34 = 6420.89. he can pay full or in emi in 6 months, only question arise is cashback should be credited. and i think it will it just EMI was done later and statement was generated before. and if he pay in EMI now then it will be considered as Minimum Due and not full repayment cause full repayment is for 36,921, i had -79 in credit in this card.
 
Pre Closure is beneficial only when NCEMI discount is instant.

Khuch maharatiyo ne Amazon aur flipkart and Banks ko chuuna lagane m koi kassr nhi chodi.

If you cancel the EMI, you will lose the cashback, and you will also be required to pay pre-closure charges. The pre-closure charges are not a significant amount.

But before making any decision, it's important to calculate how much you will save if you close the EMI compared to continuing with it.
 
If you cancel the EMI, you will lose the cashback, and you will also be required to pay pre-closure charges. The pre-closure charges are not a significant amount.

But before making any decision, it's important to calculate how much you will save if you close the EMI compared to continuing with it.
yeah i know, i don't want to close the EMI, i knew about the EMI thing, cause without EMI there was no Cashback, that 3k discount on 40,000 product so he had to opt for EMI using my bob card.
 
ON BOB Website it ask for 36,921 and i can't find any paid column.
2.
From Next Month Statement EMI Would be billed.

Its his choice he want to pay Whole Amount in One Shot or In the form of EMI. - the thing is EMI for 6month/38.525.34 = 6420.89. he can pay full or in emi in 6 months, only question arise is cashback should be credited. and i think it will it just EMI was done later and statement was generated before. and if he pay in EMI now then it will be considered as Minimum Due and not full repayment cause full repayment is for 36,921, i had -79 in credit in this card.
Check again.
These two columns should Match.

I also do EMI txns for My friends but I take Monthly EMI from Them, even when they are ready to Pay in Full

Beacuse Actual Payable Amount Includes Principal+Interest+GST on Interest.

In your case a part of Interest will be credited as CashBack, so when Cashback is Actually credited then transfer it to your Friend Account
 

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Check again.
These two columns should Match.

I also do EMI txns for My friends but I take Monthly EMI from Them, even when they are ready to Pay in Full

Beacuse Actual Payable Amount Includes Principal+Interest+GST on Interest.

In your case a part of Interest will be credited as CashBack, so when Cashback is Actually credited then transfer it to your Friend Account
It not showing up total amount paid. may be cause i didn't use this card from last 6 months and it show total amount and due amount. will ask to pay full amount. Im sure cashback will be credited . Screenshot_20230612_150247_Chrome.jpg
 
It not showing up total amount paid. may be cause i didn't use this card from last 6 months and it show total amount and due amount. will ask to pay full amount. Im sure cashback will be credited .View attachment 19620


I doubt you are going to receive your cashback since this EMI is being provided to you by BOB, and it's not a Merchant EMI. Usually, these cashbacks take up to 90 days to reflect in your statement and get adjusted to your bill. I would be glad to be proven wrong in this scenario.
 
I doubt you are going to receive your cashback since this EMI is being provided to you by BOB, and it's not a Merchant EMI. Usually, these cashbacks take up to 90 days to reflect in your statement and get adjusted to your bill. I would be glad to be proven wrong in this scenario.
it Merchant EMI bro, my friend swiped my card for non-cost emi offer on A/C. and amount come to 37,119. so as per him after 3 month.. 1406/- should get credited. now i regret giving my card and i wished BoB. give good limit to others too . even though mine is just 40k and my friend has a limit of 25k and too his bob cc is more than 1 yr old. now i guess once i file my ITR will ask bob to increase limit on these card.
 
It not showing up total amount paid. may be cause i didn't use this card from last 6 months and it show total amount and due amount. will ask to pay full amount. Im sure cashback will be credited .View attachment 19620
BOB already Updated its system as per RBI guidelines

Since Txn is already Convetred to EMI and a Memorandum Refund of 37K already Processd by BOB to reduce the current Outstanding
So No Payment is required this time.

But I will suggest Pay Minimum Amount Due for Safer Side and if your Friend can pay the whole amount in one shot then Pay it in one shot.

Next Month
You Will be Billed for 1st EMI and other Charges releated to EMI
and
If you chooses to pay whole Amount in one shot, then Future Statements would be generated with Zero Due till whole advance Amount gets adjusted against EMI and other Charges realted to that EMI



W.R.T cashback, It will be credited as per Tncs of the offer and ask your friend to keep the Charge Slip on which Cashback Amount is mentioned safe till it is Actually Credited.
 
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