Now you can opt for No Cost EMI and pay EMIs without additional Interest during the Great Indian Festival Sale on Amazon 16th and 17th October 2020. (16th October is only reserved for Amazon Prime members)
No-Cost EMI payment is available on all major Bank Credit cards, Debit cards, and Bajaj Finserv EMI as well.
Using the Bajaj Finserv card, you can easily purchase up to INR 1 Lakh and repay without any form of Interest.
Amazon Great Indian Sale – How to avail No Cost EMI
1. Head over to Amazon on 16th and 17th October during the Great Indian Sale
2. Choose the product and go to the Payment page.
3. Check the available EMI options and tenure of each one.
3. Now, simply choose your preferred bank, and select your Tenure and EMI Plan
4. Check other details and complete your payment.
No Cost EMI – How it Works?
The No-Cost EMI works in a very simple way. It generally waves off the Interest amount in the form of a discount.
So, depending on the tenure of your chosen EMI, the entire interest amount is deducted as a flat discount, and the remaining amount is paid to the respective bank.
Generally, it takes around 4-7 Working days to get the total amount reversed and then convert it into EMI by the bank
The Credit limit will be released accordingly while paying your EMI every month.
Important Note: The No cost EMI is available only on Select Sellers and Products.
You can get the Eligibility inside the product page.
NO Cost EMI on Debit Card
Kotak Mahindra, HDFC, ICICI, Axis, SBI, and Federal Bank, all these banks offer No Cost EMI benefits on Debit Card.
Frequently asked questions
Here are the steps to avail Debit Card EMI: Go to Amazon, head over to the chosen product page. If the product and your account are eligible for Debit card EMI, you get the option “Debit EMI” in the EMI section page. Now purchase the product by adding the product to “cart” and continue to the Payment Page. Here, find the “EMI Menu” and add your Bank’s Debit card credentials. Now, carefully choose the EMI Plan and tenure and proceed to complete the purchase.
No! Your account won’t be debited then and there. Banks have a pre-approved overdraft facility. So, you just need to pay monthly installments on time as per the EMI plan chosen by you.
While purchasing, you need to make the complete 20K payment using the Debit EMI option. Your selected bank will debit the monthly installment as per the EMI plan and tenure chosen.
For Debit Card EMI eligibility, your selected bank will send an email & SMS on your registered mobile number for the confirmation of
The First installment or deduction will be done within 30 days from the date of purchase/transaction.
Your bank will auto debit monthly installment for EMI from your account. Note: Maintain sufficient balance in your account. Also, if you want to pay the whole amount early, contact your bank. Banks may charge you an additional fee for the pre-closure of the loan.
There are no additional or hidden charges from Amazon in Debit EMI. But your bank may charge an interest built-in with the monthly installment which you will pay. Check for the interest charges and the EMI amount on the product detail page itself. You can also find the same on the Payment page as well. For EMI using HDFC Bank Debit card or Credit card: Processing fee is INR 199 For EMI using Kotak bank Debit card or Credit card: Processing fee is INR 199 For EMI using an ICICI Bank Debit card: Processing fee is INR 99 (Billed with the first month installment) For EMI using Axis Bank Debit card or Credit card: Processing fee is INR 99 (Maximum 1% of the final value)
The No-Cost EMI benefit is only available on exclusive Debit card EMIs. Check the EMI Plans and tenures on the product page before proceeding.
If the chosen product qualifies for the return facility, you can surely cancel or return it within 30 days. The bank will also cancel the EMI. Bank may charge a foreclosure or cancelation fees.
In this case, the Bank will re-calculate the EMI amount on the new price by adjusting the refund amount,