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How to cancel no cost emi on a merchant transaction but get the interest as discount?
- Thread starter pavan000
- Start date
Batmanbaba
TF Legend
Hdfc ncemi cancellation is not free anymore.... U will be charged intrest from last billing date till the emi cancellation date.... So expect anything between 200-500 charges... U can do it from hdfc netbanking or hdfc bank app.... Easily
call them and cancel now..
You will have to pay 3% cancellation charges , so 1k gone, still 1k profit
Kiranonlinee
TF Premier
Citi cc merchant emi cancellation possible dot is 19th April
Please assist
Please assist
hariselio
TF Premier
I recently did in hdfc my cards website, using preclosure option, there was no cancellation option given. But I was charged less as of now, will have to wait for billing see if they add any more charges.
Transaction details are, 78.5K on 9th April for 12 months NCEMI and EMI converted on 13th. I noticed only on 15th late night as there was no notification from bank. Immediately closed using preclosure option and right away paid all outstanding including all other expenses.
So far extra around 100rs they charged including all those gst. Need to see whether they’ll add any more charges in the final bill.
emiya007
TF Neo
Hi Could you explain how to do so? Should we pay the full amount and then contact call centre? And after how much time should we call of so?
hariselio
TF Premier
This information from HDFC may not be correct one. For 78.5K itself I was charged only 110 additional. 199 processing fees got refunded.
revanth.
TF Neo
Did you get the no cost emi discount? HDFC terms and conditions say that if cancelled or foreclosed then the merchant payback is fully payable
Attachments
hariselio
TF Premier
yes, isn't no cost emi discount given upfront by the seller. And so far HDFC has not charged that discount.
revanth.
TF Neo
That's great. Yeah the discount is given by seller and i don't understand how HDFC asks to pay it , at least it mentions like that in terms and conditions.
prateekbgd
TF Buzz
Guys note that this interest discount only works on axis, icici and hdfc. Sbi and hsbc cards incurr 3% foreclosure charges. Been there,done that.
Batmanbaba
TF Legend
Hdfc also now charging.... Atleast for me....
Hi team, I have gone through the whole thread but couldn't find a exact way of cancelling no cost emi for axis card to be exact Flipkart axis card. Will there be any charges if I cancel the emi?
I know how to do it for sbi and icici but not aware of Flipkart. Please help.
I know how to do it for sbi and icici but not aware of Flipkart. Please help.
Batmanbaba
TF Legend
Call on customer care and request.... They will generate a sr request... It will be done in 2 days... If done in 15 days of order... Then no charges
Also, will I get any reward points for it?
So, all the charges are reverted like icici processing fee, gst etc? Just wanted to confirm whether gst will also be reverted
Batmanbaba
TF Legend
No rewards.. And yes everything will be reversed....
Spoderman
TF Buzz
Hey what's the update of your ncemi cancellation? Did you have to pay the upfront discount to HDFC?
They do it immediately or we have to wait until transaction is settled?
VISHESH_BANSAL
TF Pioneer
Phle Merchant ko Amount settle hoga then Kotak Convert karega.
System m EMI show karegi tab na Cancel hogi🤣
jo Chiz Exist nhi karti usko Cancel kardo🤣
My Latest Experience
Txn Date:-21st May
On 23rd May It was Apperaing in settled Txns
On 24th May EMI conversion Happened and Reflected on 25th May.
Called the customer Care on 25th May to Cancel it and Cancellation Successful
E-Mail received on 27th May evening
Now Kotak is not asking to pay Txn Amount Upfront and taking direct Request to Cancel the EMI
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