Query regarding Emi

[Sahil_07]

I have recently purchased an AC with no cost Emi from Flipkart with my ICICI credit card. I have got additional 2300 rs discount for choosing no cost Emi option .But Imobile app the amount is not converted to emi till now,they said it may take 7 days.
Now my question is my request ICICI customer care to cancel my Emi and I will pay the full amount in the next billing circle,Is it can be done in ICICI Bank? It could have saved additional 2300 rs for me

 

[Zacobite]

I have recently purchased an AC with no cost Emi from Flipkart with my ICICI credit card. I have got additional 2300 rs discount for choosing no cost Emi option .But Imobile app the amount is not converted to emi till now,they said it may take 7 days.
Now my question is my request ICICI customer care to cancel my Emi and I will pay the full amount in the next billing circle,Is it can be done in ICICI Bank? It could have saved additional 2300 rs for me

2300 will get readjusted.. you can cancel the product and then the emi will get cancelled.. / adjusted.. you cannot cancel the emi and chg the payment terms now

 

[Sahil_07]

2300 will get readjusted.. you can cancel the product and then the emi will get cancelled.. / adjusted.. you cannot cancel the emi and chg the payment terms now

Na I am okay with the product and Emi.I asked it to know whether I can save additional 2300 as it is not converted to emi till now in Imobile app

 

[praful47]

I have recently purchased an AC with no cost Emi from Flipkart with my ICICI credit card. I have got additional 2300 rs discount for choosing no cost Emi option .But Imobile app the amount is not converted to emi till now,they said it may take 7 days.
Now my question is my request ICICI customer care to cancel my Emi and I will pay the full amount in the next billing circle,Is it can be done in ICICI Bank? It could have saved additional 2300 rs for me

As you have opt for EMI your transaction will be converted into monthly EMI .
If you want to cancel the EMI you have to pay foreclosure charges.

 

[dapatale]

No foreclosure charges in ICICI
Call CC once ur transction is converted into EMI and ask for cancellation
U get 2300 extra discount

 

[Zacobite]

No foreclosure charges in ICICI
Call CC once ur transction is converted into EMI and ask for cancellation
U get 2300 extra discount

discount will get re-adjusted for sure

 

[vicky08]

No foreclosure charges in ICICI
Call CC once ur transction is converted into EMI and ask for cancellation
U get 2300 extra discount

do you know if any foreclosure charges for HDFC EMI?

 

[doc_shafi]

I have recently purchased an AC with no cost Emi from Flipkart with my ICICI credit card. I have got additional 2300 rs discount for choosing no cost Emi option .But Imobile app the amount is not converted to emi till now,they said it may take 7 days.
Now my question is my request ICICI customer care to cancel my Emi and I will pay the full amount in the next billing circle,Is it can be done in ICICI Bank? It could have saved additional 2300 rs for me

You can contact customer care and foreclosure of emi for same

 

[Zacobite]

I have recently purchased an AC with no cost Emi from Flipkart with my ICICI credit card. I have got additional 2300 rs discount for choosing no cost Emi option .But Imobile app the amount is not converted to emi till now,they said it may take 7 days.
Now my question is my request ICICI customer care to cancel my Emi and I will pay the full amount in the next billing circle,Is it can be done in ICICI Bank? It could have saved additional 2300 rs for me

tell us what u did and what finally happened

 

[Zacobite]

discount will get re-adjusted for sure

@Deepak_Shetty why the dislike ... i have had this experience in the past

 

[Deepak_Shetty]

@Deepak_Shetty why the dislike ... i have had this experience in the past

I have cancelled ICICI Credit card EMI many times after taking No cost EMI discount and I got full refund of interest and it's GST as well. But I am hearing first time about discount re-adjustment.
I thought that it's your assumption. As you experienced this scenario I am removing my dislike.
May I know about your recent merchant cancelation experience?

 

[Zacobite]

I have cancelled ICICI Credit card EMI many times after taking No cost EMI discount and I got full refund of interest and it's GST as well. But I am hearing first time about discount re-adjustment.
I thought that it's your assumption. As you experienced this scenario I am removing my dislike.
May I know about your recent merchant cancelation experience?

the original Q was that he wanted to keep the discount as profit.. to which i said no...whatever you got debited will get credited when you cancel.. no profit from cancelled transactions.. "dislike" is a very strong emo.. use it sparingly

 

[Sahil_07]

tell us what u did and what finally happened

One can close the emi with giving 3% charges of the entire amount,still it will be profitable for most of the cases, especially if you select 6/9+ month emi at the time of order

 

[Deepak_Shetty]

the original Q was that he wanted to keep the discount as profit.. to which i said no...whatever you got debited will get credited when you cancel.. no profit from cancelled transactions.. "dislike" is a very strong emo.. use it sparingly

But for me, ICICI didn't take instant discount and no cost EMI discount back. When is your last try?

 

[Sahil_07]

But for me, ICICI didn't take instant discount and no cost EMI discount back. When is your last try?

yeah no bank will do that.. Merchant gives the discount, not any Banks.. But there will be 3% charges on the whole amount if u close the emi

 

[dapatale]

do you know if any foreclosure charges for HDFC EMI?

Within 15 days no charges but interest for days before closure has to be paid

 

[varkey]

Any recent change regarding EMI cancellation with ICICI? I have done it atleast 5-6 times a few months ago, and all it required is a call to their customer care, you get to keep all EMI related discounts and all charges are reversed provided you cancel within 15 days.

In fact the email they send also says the same.

 

[varkey]

@Deepak_Shetty why the dislike ... i have had this experience in the past

Was this with ICICI or some other bank? Each bank has its own policies. ICICI has always been no questions asked cancellation and you get to keep all discounts, and all processing fees get reversed, provided cancellation is done within 15 days. If your experience is recent with ICICI, please do share.

 

[imdjay]

Any recent change regarding EMI cancellation with ICICI? I have done it atleast 5-6 times a few months ago, and all it required is a call to their customer care, you get to keep all EMI related discounts and all charges are reversed provided you cancel within 15 days.

In fact the email they send also says the same.

True, They still refund the charges if done within 15 days of the transaction.