No cost EMI foreclosure charges

[c9646]

Hey guys. I just bought a phone from Flipkart yesterday for around Rs. 60K after 12 months NCEMI and other discounts.

I was wondering if I can pay the total balance right now before it gets converted to EMI. Will I still get the foreclosure charges? Will the Rs. 10K EMI discount that I got be reversed?

Has anyone done this? If yes, please help out.

 

[Tamraj Kilvish]

Hey guys. I just bought a phone from Flipkart yesterday for around Rs. 60K after 12 months NCEMI and other discounts.

I was wondering if I can pay the total balance right now before it gets converted to EMI. Will I still get the foreclosure charges? Will the Rs. 10K EMI discount that I got be reversed?

Has anyone done this? If yes, please help out.

It depends on which bank's card you use, and if they don't charge Forclose charges for cancelling EMI within 7-10 days then it is good, otherwise you will have to pay 3-4% EMI Forclose charges

 

[Aegon]

Hey guys. I just bought a phone from Flipkart yesterday for around Rs. 60K after 12 months NCEMI and other discounts.

I was wondering if I can pay the total balance right now before it gets converted to EMI. Will I still get the foreclosure charges? Will the Rs. 10K EMI discount that I got be reversed?

Has anyone done this? If yes, please help out.

HDFC has 3% + gst as foreclosure charges.

The discount won't usually be reversed even though its mentioned in t&cs.

 

[c9646]

It depends on which bank's card you use, and if they don't charge Forclose charges for cancelling EMI within 7-10 days then it is good, otherwise you will have to pay 3-4% EMI Forclose charges

Bank is HDFC. I created this post in the HDFC sub-forum so I didn't think of mentioning it again 😅

 

[c9646]

HDFC has 3% + gst as foreclosure charges.

The discount won't usually be reversed even though its mentioned in t&cs.

Do they charge that even if I close it within 3 days of making the charge? Also the charge hasn't converted to EMI yet.