https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_7998941
HDFC – 199+GST
Axis – 1% new info 
axis bank no cost emi - processing fee charged
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while i understand that hdfc charges a flat fee of 299 for all emi’s which is non-refundable, now i noticed axis bank is also charging processing fee. i was charged 1% processing fee for the realme gt phone i ordered. it was mentioned nowhere.
also axis bank is always notorious for this kind of illegal activities.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_7998947
Thanks for info. Do inform about pre closure charges as well.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000076
chor= AXIS
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000127
I don’t think there is any bank that doesn’t charge processing fees.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000145
soccergiants wrote:I don’t think there is any bank that doesn’t charge processing fees.
ICICI
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000324
It must have been mentioned either on fk/Amazon from where u bought, or the TnC of axis bank website
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000515
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shivrajsingh wrote:ICICI
For NO COST EMI preclosure fee :
ICICI 3%.
Axis 0%
HDFC (with complete outstanding) 0%
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000786
are bhaiyaa ji, disocunt scheme ka arrangement bta rha tha wo, chill kro thoda 
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8000819
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8001657
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8001750
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gagan12121 wrote:ICICI has 0 foreclosure/pre-closure charges, at least for online transactions.
Share screenshot or something, mentioning the charge.
Yes icici zero charges if closed within 15 days past that 3%
Processing Fee 0 for icici
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8001755
soccergiants wrote:I don’t think there is any bank that doesn’t charge processing fees.
ICICI and Citi has no processing fees. And I think BOB also
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8001777
No cost emi want and benefits also . So it is good that bank charge u🤣
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8001805
raman12 wrote:It must have been mentioned either on fk/Amazon from where u bought, or the TnC of axis bank website
If a call / email for cancellation is made before the first EMI is debited, processing fee will be waived off.
this is what is mentioned, but i was charged processing fee… will try to cancel the emi and ask for refund
normally processing fee mentioned is 1.5 %
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8002032
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gagan12121 wrote:Good for you. I was charged for couple of EMIs which I foreclosed last month. I observed the charges in imobile app.
Good for you. I was charged for couple of EMIs which I foreclosed last month. I observed the charges in imobile pay app.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8007336
@karthi4052752 you got this waived?
I am also charged same. Thinking to email them to either waive it or foreclose the emi completely.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018235
jambui wrote:@karthi4052752 you got this waived?
I am also charged same. Thinking to email them to either waive it or foreclose the emi completely.
We would like to inform you that effective from 23-10-2020 merchant EMI processing fee is 1% or minimum Rs.100 whichever is higher. Therefore the processing fee of Rs. 236.91 plus GST has been levied on your card.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018246
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018251
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chiraggyl170 wrote:3% charge is only there for smart emi and not merchant emi. i have preclosed more than 20 emi and never paid any charge other than pro rata interest(which was never more than ₹20 for me).
I tried to foreclose EMI in HDFC once. They told 3% fee.. never tried after that
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018273
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tank_u_m8 wrote:3% charge is only there for smart emi and not merchant emi. i have preclosed more than 20 emi and never paid any charge other than pro rata interest(which was never more than ₹20 for me).
That’s great.. but since they strt charging 299 extra . It means 20+299 will be charged for emi cancellations?
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018295
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chiraggyl170 wrote:That’s great.. but since they strt charging 299 extra . It means 20+299 will be charged for emi cancellations?
HDFC charges rs 199+ gst(RS. 235 total) for starting any emi regardless of whether you close it or not. There is NO preclosing fees and the pro rata interest depends on how much time is lapsed between the txn date and the date of emi preclosure. if you close emi within first 3-4 days your pro rata interest will be zero.
Although there will be some interest shown in the preclosure estimate that hdfc will send you by email but they never actually deduct that interest from your card.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018329
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karthi4052752 wrote:We would like to inform you that effective from 23-10-2020 merchant EMI processing fee is 1% or minimum Rs.100 whichever is higher. Therefore the processing fee of Rs. 236.91 plus GST has been levied on your card.
How much will they charge if you foreclose it? Only this processing fee or some extra % as well?
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018343
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8018485
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chiraggyl170 wrote:I tried to foreclose EMI in HDFC once. They told 3% fee.. never tried after that
Merchant EMI foreclosure is 0%
Please confirm with bank again, availed this facility multiple times.
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8044385
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Rahil42 wrote:Processing charges will be reversed. No foreclosure fee
What happens or if I cancel no cost emi order on Amazon? Refund would be received before first EMI gets charged on my credit card. Do I need to call their customer care and ask them to cancel this EMI txn or it will get cancelled automatically and EMI will not be charged?
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8255974
Please help
https://www.desidime.com/discussions/axis-bank-no-cost-emi-processing-fee-charged?page=1#post_8255975
Planning to order OnePlus 9RT using Axis card No cost EMI offer to avail discount and foreclose EMI.
Please guide through what charges will be levied?
The only that I could find on internet is:
If a call / email for cancellation is made before the first EMI is debited, processing fee will be waived off. If a call / email is made after 30 days of EMI debit, this will be considered as a foreclosure and 3% foreclosure charge plus service tax will be applied on principal outstanding.
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