Credit card EMI purchase query
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I purchase a washing machine from electronics store with EMI purchase from a credit card for discount. Store owner told me it will be no cost EMI so there will be no extra charges on your Axis bank crdeit card. On the statement, it has included the EMI processing fee and GST charges on my credit card. How to reverse these charges?
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https://www.desidime.com/discussions/credit-card-emi-purchase-query?page=1#post_9875888
Thanks. When can I expect the refund on interest paid?
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https://www.desidime.com/discussions/credit-card-emi-purchase-query?page=1#post_9876990
In no cost emi.. usually the paid amount is already less of interest (i.e you don't pay the interest component) in online transactions..
However in offline transactions maybe the bank will refund it .(please check with the bank
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No cost emi doesn't mean processing fee + GST is not levied
.
It's just that you get a refund on interest paid to the bank..
(GST still needs to be paid + one time processing fee)