Your card limit will be blocked for the full payable amount initially. After 4-7 business days your bank will process this to an EMI and you will be charged the EMI amount in your monthly statement.
Purchase your chosen product with No Cost EMI
We’ll provide you an instant discount equal to your interest amount
Bank will charge you interest every month on your card* (which we would have already reimbursed)
Yes, interest will be charged by your bank. Although, we’ll provide you an instant discount equal to the interest payable to bank. Hence, there won’t be any additional cost charged to you.
After Placing the Order
Discounted amount is paid to the bank (₹20,990 - ₹413)
After 4-7 Working Days
Amount is reversed by the bank and changed into EMI
You will pay your installment every month according to EMI plan. Your credit limit will be released as you pay your EMI
No cost EMI is an offer from OnlyMobiles which helps you to replay your EMI provider only the product price, which you are buying. For example, if you buy a Rs.9,000 item at a 6 months tenure, you will pay your EMI provider Rs.1,500 every month for 6 months. Total payment from your side will be Rs.9,000 at the end of the repayment period.
No. No Cost EMI offer is not available on the debit cards as of now. You need to use your credit card for the same.
Yes, You can purchase any product or combination of products on No Cost EMI. The only requirement is your cart value should be more than Rs.5,000.
There are absolutely no charges like processing fees or downpayment involved when you purchase with No Cost EMI. However, your bank may charge you GST or any other taxes on the interest component of the EMI.
Yes, your bank or EMI provider will charge you interest. However, this interest charge has been provided to you as an upfront discount at the time of your purchase from our side. So, effectively, you are getting the benefit of a No Cost EMI.
Usually, EMI providers take 3-5 working days to process your EMI. Once done, your EMI will be charged on monthly basis as per your credit card billing cycle. Please check with your EMI provider or credit card company for such detail.