No Cost EMI FAQ
1 What is No Cost EMI?
No Cost EMI is an offer by which you pay your EMI provider/bank only the product price, equally divided over your repayment timeline.
For example, if you buy a Rs. 6,000 product at a 6 month tenure, you will pay your EMI provider/bank Rs. 1,000 every month for next 6 months, amounting to a total of Rs. 6,000*
2 Which payment methods can i use to get a No Cost EMI?
Credit Card (EMI transactions only), No cost EMI is available on all major banks provided credit cards (list of banks available on payment page).
3 Is No Cost EMI available on all products on the site?
Yes, but subject to minimum cart value as described by card issuer/bank.
4 When will my EMI be processed by bank?
Usually Banks process EMIs within 3-5 business days. It will initially deduct the whole money from your credit card and convert the amount into EMI within 3-5 business days.
5 Will bank charge me any interest?
Yes, banks will charge you interest. However, this interest charges has been provided to you as an upfront discount at the time of your purchase, effectively giving you the benefit of No Cost EMI*.The total payable amount (including interest) will be equal to the product price.
6 How will my EMI be charged?
Your bank will take 3-5 working days to process your EMI. After that, your EMI will be charged on a monthly basis, as per your credit card billing cycle or payment instructions with your EMI provider/bank. Please check with your provider/bank for specific details.
7 How many months can i avail No Cost EMI for?
No Cost EMI is available for 3 months & 6 months only.
8 Will I have to pay any extra amount for EMI transaction?
Yes, EMI using credit card, you will be charged a processing fee by the bank (billed with your first EMI.)
9 Is there any fees or down payment?
No, Amsty will not charge any processing fees or down payment for a NO Cost EMI transaction. Your bank may levy GST or other taxes on the interest component of the EMI. Amsty bears the cost of the NO COST EMI to facilitate your hassle-free purchase.
10 How to avail No Cost EMI on my purchase?
- Add products to your cart.
- Click on No Cost EMI Offer when you proceed to pay at payment page.
- Choose 3 or 6 Months NO COST EMI Plan based on the cart value.
- Pay using credit card of any available list of banks card.
11 What will happen to EMI if I cancel the order?
If you cancel or return an EMI order purchased using credit cards, Amsty will refund the full purchase amount to your original payment method and cancel the EMI. You will then need to contact your bank to confirm the cancellation.
For credit cards: Your card issuing bank may charge nominal pre-closure charges. For more details on EMI closure, please contact the card issuing bank.
12 How can I close my EMI earlier?
Please contact your bank to close your EMI early, subject to foreclosure fees as per their policy.
Please Note: The Minimum Cart value should be Rs. 1,541 to avail No Cost EMI.