Easy Monthly Installments (EMI)

FAQ about Easy Monthly Installments (EMI)

How does Debit EMI work?

Debit EMI is a new EMI method using which you can avail EMI on your debit card. You don't need to have the entire amount in your account at the time of transaction and bank will not block any amount on your card. We will use the pre-approved overdraft facility enabled by your bank and bank will deduct the EMI amount every month from your account.

Currently, EMI is available only on HDFC, SBI, Axis, ICICI, Federal and Kotak Mahindra debit cards.

You will need to make a purchase of a minimum amount of ₹5000 using your HDFC, ICICI, Federal and Axis debit cards and ₹8000 on SBI and Kotak Mahindra debit cards to avail EMI.

To check your eligibility and know more about debit EMI, please click here

Why interest is getting charged on No Cost EMI?

For your EMI purchases using Credit Card & Debit Card options, your bank will continue to charge you interest on the order value. However, under a no cost EMI offer, the total interest amount payable by you, has already been adjusted from the price of your order.

The total amount (including interest) that you will pay to the bank will be equal to the price of the product.

Know more about no cost EMI from here

How does Down Payment work?

Down Payment is a payment option available on select products, using which, you can pay 25% of the product price at the time of purchase and convert the balance amount into EMI on your credit card.

You will have to pay the Down Payment and the first EMI installment in the next billing cycle of your credit card. For example, if you have made a purchase of ₹18000 that is available on 9 months no cost EMI using Down Payment, then initially your bank will block your credit limit by ₹18000. You will have to pay the one-time Down Payment of ₹4500 (25% of the product price) and the first monthly instalment of ₹1500 in the next billing cycle of your credit card and the blocked amount will come down to ₹12000. You will have to pay the remaining monthly instalments of ₹1500 each for 8 months.

Note: Down Payment option is available only on select products that are priced at equal to or greater than ₹4000 and on select credit cards. Please check the EMI options section on the product detail page to know whether or not the product is eligible for Down Payment.

Why am I not getting EMI option?

If you are trying to avail EMI on your debit card or Amazon Pay Later, please check your eligibility using below links:

Please ensure your order value is greater than the minimum purchase amount for the following EMI payment methods:

  • Credit Card and Zest Money EMI- ₹3000
  • Down Payment- ₹4000
  • Debit Card- ₹5000 for HDFC, ICICI, Federal, Axis and ₹8000 for SBI, Kotak Mahindra
  • Bajaj Finserv. Ltd- ₹4500
  • Amazon Pay Later- No minimum purchase value for 1 month EMI tenure, ₹3000 for 3 months EMI tenure and ₹6000 for 6 months EMI tenure.

Note: Gift cards, Amazon pay balance top up, Gold, Jewelry, and global store products are not eligible for EMI.

No cost EMI is available on select products only. Please check the 'Special Offers' section on the product detail page to check if the product is eligible for no cost EMI on debit card/credit card/ Amazon Pay Later/Bajaj Finserv card.

For more details on Amazon Pay Later, please click here

How can I register for Amazon Pay Later?

Go to Amazon Pay Later registration page on your Amazon.in mobile App and follow simple on-screen instructions.

Step 1: Complete your KYC

You will be shown one of the below four modes of KYC completion:

1) Existing KYC (shown only in case you have completed KYC for Amazon Pay Balance)

2) OTP Based eKYC

3) Existing customer with lending partner (Shown only in case you have already completed KYC with our lending partner in past)

4) KYC as received from CKYCR under CERSAI

If you are shown Option 1, i.e. Existing KYC, you will need to follow the below steps:

Step 1: Verify Identity

Enter missing 4 digits of the PAN Card you used for completing the KYC for Amazon Pay Balance.

Post submission of details, your profile will be evaluated, and Amazon Pay Later limit will be determined which will be displayed to you on the next screen.

Step 2: Accept Terms

Your approved Amazon Pay Later limit will be displayed on this screen along with the loan agreement. Please read and accept the agreement to complete Amazon Pay Later registration. This sanctioned limit will become active within few minutes of completing the registration.

If you are shown Option 2, i.e. OTP based eKYC, you’ll need to follow the below steps:

Step 1: Verify Identity

Enter your complete PAN card number and click Continue.

Enter your complete Aadhaar number and click Continue.

You will receive an OTP on your mobile number registered to your Aadhaar number. Enter the OTP and click continue.

Post submission of details, your profile will be evaluated, and Amazon Pay Later limit will be determined which will be displayed to you on the next screen.

Step 2: Accept Terms

Your approved Amazon Pay Later limit will be displayed on this screen along with the loan agreement. Please read and accept the agreement to complete Amazon Pay Later registration. This sanctioned limit will become active within few minutes of completing the registration.

If you are shown Option 3, i.e. Existing KYC with lending partner, you will need to follow the below steps:

Step 1: Verify Identity

OTP will be sent on the registered mobile number with the Lending Partner

Enter missing 4 digits of the PAN Card you used for completing the KYC for the lender.

Post submission of OTP, your profile will be evaluated by the lender, and Amazon Pay Later limit will be determined which will be displayed to you on the next screen.

Step 2: Accept Terms

Your approved Amazon Pay Later limit will be displayed on this screen along with the loan agreement. Please read and accept the agreement to complete Amazon Pay Later registration. This sanctioned limit will become active within few minutes of completing the registration.

If you are shown Option 4, i.e. CKYC, you’ll need to follow the below steps:

Step 1: Verify Identity

Answer a few questions on your basic KYC information and give a consent on the KYC details displayed to you that are fetched from CKYCR.

Post submission of details, your profile will be evaluated by the lender, and Amazon Pay Later limit will be determined which will be displayed to you on the next screen.

Step 2: Accept Terms

Your approved Amazon Pay Later limit will be displayed on this screen along with the loan agreement. Please read and accept the agreement to complete Amazon Pay Later registration. This sanctioned limit will become active within few minutes of completing the registration.

How can I repay for Amazon Pay Later?

Amazon Pay Later repayment can happen in two ways:

  • Auto repayment: which is a one-time setup during registration, or at the time of first purchase using Amazon Pay Later or from Amazon Pay Later dashboard.
  • Manual repayment function from Amazon Pay Later dashboard for manual repayment of the installments or full outstanding balance through debit card, UPI or net-banking of any bank.

For auto repayment setup, you will have to link your debit card/bank account of selected banks by performing one verification transaction of up to Rs 5. This amount will be refunded within 5-7 business days to your bank account. Once this is set, the due amount will be automatically deducted from your linked bank account/debit card, thus making repayments hassle-free.

Note:

1. Repayment of pay later credit dues is not allowed with another credit(Credit Card or Loans).

2. Rupay cards are not supported for auto-repayment setup.

More Questions

Why is the entire amount blocked on my credit card?

Initially your bank will block the entire amount from your available purchase limit and from your next billing cycle, you will be charged the EMI amount. As you start paying your EMI, your credit limit will be released accordingly. For example, if you have made a purchase of ₹18000 on 3-months EMI and your credit limit is ₹50,000 then initially your bank will block your credit limit by ₹18,000. After payment of your first month EMI of Rs.6000, the blocked amount will come down to ₹12000.

Why am I unable to use Amazon Pay Later?

To use Amazon Pay Later for making purchases on Amazon.in, you have to fulfil following conditions:

  • You should be eligible and have completed one-time setup for Amazon Pay Later. Check your eligibility from a mobile device from this link
  • Minimum purchase value should be ₹3000 for 3 months EMI tenure, ₹6000 for 6 months EMI tenure, ₹9000 for 9 months EMI and 12 months EMI. There is no minimum purchase value for 1 month EMI tenure.
  • Maximum purchase value for 1 month EMI tenure is ₹10000, for 3 month EMI tenure is ₹30000 and 6 months EMI tenure is ₹60000. There is no maximum purchase value for 9 and 12 month EMI tenures.
  • The available Amazon Pay Later credit limit should be more than your purchase amount.

Note: Gift cards, Amazon pay balance top up, Gold, Jewelry, and global store products are not eligible for EMI.

Why my EMI has not been processed?

Banks usually take 2-4 days to process the EMI. It will initially deduct the whole amount from your credit/debit card and within 2-4 days, the entire amount excluding any down payment amount will be credited back to your card and converted into EMI.

If your initial payment had failed and you had to revise your payment, please check if you had selected EMI option and tenure again while making the payment. You can check details under Your Orders> View Order Details> Payment Information.

How can I close my EMI earlier?

For purchases on EMI using credit cards / debit cards: If you want to close your EMI earlier, please contact your bank. You might have to pay some foreclosure charges according to the bank's policy.

For purchases with Amazon Pay Later: You can manually pay, using your debit card, UPI or netbanking, for the total outstanding balance (sum of all dues across all your purchases using Amazon Pay Later). This option can be accessed from Amazon Pay Later dashboard

What will happen to EMI if I cancel the order?

If you cancel or return an order purchased on EMI using credit cards / debit cards, Amazon will refund the entire purchase amount to your card immediately and the EMI will be cancelled from Amazon's end. Any down payment amount you paid using your credit card will be refunded to you within 5-7 business days by Amazon. You will then need to contact your bank to confirm the cancellation at their end.

When you cancel or return an order placed using Bajaj Finserv (BFL) Card, we will forward your request to BFL. BFL will cancel the loan if you have not paid the first instalment yet. In case you've paid instalment(s), the same will be refunded to your Card and the loan will be cancelled by them. You will not be charged for the foreclosure or pre-closure of your No Cost EMI availed through BFL.

When you cancel or return an order placed using Amazon Pay Later, our partner (Capital Float) will cancel the loan if you have not paid the first instalment yet. In case you've paid instalment(s), the same will be refunded to your debit card/UPI/netbanking and the loan will be cancelled by them. You will not be charged for the foreclosure or pre-closure of your EMI availed through Amazon Pay Later.

Will I have to pay any extra amount for EMI transaction?

If you are availing EMI using a HDFC card (credit or debit),or ICICI debit card, you will be charged a processing fee of ₹199 by the bank which will be billed along with your first EMI.

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