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Take a look at what an EMI plan looks like!
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AFTER PLACING ORDER Discounted amount paid to bank (₹30,000 - ₹638) ₹29,362 |
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AFTER 4 -7 WORKING DAYS Amount reversed by the bank and converted into EMI ₹29,632 |
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MONTHLY INSTALLMENTS you will pay ₹10,000 every month for 3 months. As you pay your EMI, your credit limit will be released |
| MONTHLY | INSTALLMENT | INTEREST | PRINCIPAL |
| 1st EMI | ₹10,000 | ₹318 | ₹9,682 |
| 2nd EMI | ₹10,000 | ₹213 | ₹9,787 |
| 3rd EMI | ₹10,000 | ₹107 | ₹9,893 |
| TOTAL | ₹30,000 | ₹638 | ₹29,362 |
Final amount paid by you ₹30,000
Note:
- A processing fee may be charged by the bank for an EMI order, check bank charges on EMI transaction here.
- The bank will continue to charge interest even on No Cost EMI plans as per the existing rates. However, the interest charged by the bank will be processed as an upfront discount
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