No Cost Emi cancellation - Hdfc Debit card

[EShopper]

Hello,

Has anyone tried No cost emi cancellation done via Hdfc debit card?

Whats better debit or credit in terms of overall charges, cancellation hassle ?

Thanks

 

[4uziaul]

Hello,

Has anyone tried No cost emi cancellation done via Hdfc debit card?

Whats better debit or credit in terms of overall charges, cancellation hassle ?

Thanks

@S S V please share your experience 😁

 

[D₹V]

Hello,

Has anyone tried No cost emi cancellation done via Hdfc debit card?

Whats better debit or credit in terms of overall charges, cancellation hassle ?

Thanks

Overall - Say no to EMIs.

 

[EShopper]

Overall - Say no to EMIs.

Would you like to share your experience?😬

 

[D₹V]

Would you like to share your experience?😬

You'll be charged
• Interest (mostly 16% PA)
• GST on interest (charges in credit card, will apply on DC EMI too)
• Processing fees (199 + GST)
• Pro Rata Interest + GST + no reversal of charges etc as pre closure charges (if pre closed)

Interest will be charged in case on No Cost EMI too.

 

[EShopper]

You'll be charged
• Interest (mostly 16% PA)
• GST on interest (charges in credit card, will apply on DC EMI too)
• Processing fees (199 + GST)
• Pro Rata Interest + GST + no reversal of charges etc as pre closure charges (if pre closed)

Interest will be charged in case on No Cost EMI too.

But i heard, if we cancel the emi within 4 days, these charges are reversed...is that not the case🙄

 

[D₹V]

But i heard, if we cancel the emi within 4 days, these charges are reversed...is that not the case🙄

That's for credit card only 😉.

 

[EShopper]

That's for credit card only 😉.

Cool, that's what i wanted to confirm, As i can see debit card emi is giving some extra discount than credit, i was wondering where's the catch... thanks 🙂

Btw have you personally tried credit card NCEMI?😬

 

[D₹V]

Cool, that's what i wanted to confirm, As i can see debit card emi is giving some extra discount than credit, i was wondering where's the catch... thanks 🙂

Btw have you personally tried credit card NCEMI?😬

I've tried it.

There's also a catch.

 

[realjayt]

I've tried it.

There's also a catch.

What’s the catch?

 

[EShopper]

I've tried it.

There's also a catch.

Ahh, you mean with CEMI as well? And what's that? 🙄

P.S - Planning to place my first EMI order, so want to make sure everything goes right😬

 

[D₹V]

What’s the catch?

EMI should be cancelled before statement generation for refund of all charges*.

So timing is must.

 

[EShopper]

EMI should be cancelled before statement generation for refund of all charges*.

So timing is must.

Suppose i place order today, can i call cc and get it cancelled tomorrow?

I want to know the timelines, for the cancel option to be available

 

[D₹V]

Suppose i place order today, can i call cc and get it cancelled tomorrow?

I want to know the timelines, for the cancel option to be available

That's not how it works.

Transaction itself will take 3 days to settle.

Once settled, EMI will be created in 24 hours.

Then Next day (again after 24 hrs) you can cancel the EMI.

Take approx 6 days time before bill generation date.

 

[EShopper]

That's not how it works.

Transaction itself will take 3 days to settle.

Once settled, EMI will be created in 24 hours.

Then Next day (again after 24 hrs) you can cancel the EMI.

Take approx 6 days time before bill generation date.

That's some good insight... My bill generation date is 1st of every month, so should i be good if I transact today, or it should be 6 business days?

 

[D₹V]

That's some good insight... My bill generation date is 1st of every month, so should i be good if I transact today, or it should be 6 business days?

Y e s.

 

[EShopper]

Y e s.

Is there any difference in cancelling emi yourself through portal or via customer care?

 

[Raun]

Sorry for hijacking, but do we get RP for NCEMI transactions on HDFC DCB?

 

[CredAshram]

Don't fall into the trap of DCEMI. I have a very bad experience with it.

 

[D₹V]

Don't fall into the trap of DCEMI. I have a very bad experience with it.

Yes, dcemi is shit