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HDfC CC emi cancellation

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playdime

does hdfc allow cancellation of credit card emi by merchant, before actual commencement of emi , but has been converted to emi.

What are cancellation charges? 

I know they chare 199+GST for converting to merchant emi while buying.

Did anyone try recently.

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Deal Subedar Deal Subedar
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there are no cancellation charges, you can close it by giving a call to customer care or your RM, They will quote you some charges and send the same estimate in email, however they never deduct those. Only catch is that you will need to pay your whole card outstanding along with emi amount to close the emi.
Brand Enthusiast Brand Enthusiast
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close the whole emi amount before due  date or right after cancellation? 

Net net, i will los3 those 199+gst conversion charges right?

Also do they insist that the credit shoukd be from merchant?

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Deal Cadet Deal Cadet
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Can anyone confirm that HDFC still doesn't impose EMI cancellation charges? Even if those charges are not imposed, how much approx charge would be mentioned by them to cancel 12month EMI for amount of 60k with 15% interest rate (~4.5k) which gets discounted as No Cost EMI

Deal Subedar Deal Subedar
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Donno about HDFC , but indusind i did an emi transaction on amazon the product arrived after 2 weeks , and was faulty we sent it back , another 2 weeks, and another 2 weeks later amazon did the refund , but emi was not cancelled , it just looked like the bill is paid on the CC.

Deal Subedar Deal Subedar
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Is there any catch for closure of emi on purchase of cashback products on emi?
Brand Enthusiast Brand Enthusiast
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Lot of things changed with hdfc, better to contact CC once.

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Finance Mentor Finance Mentor
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Cancelled a merchant EMI a month back over call.

Processing fees of 199 was reversed as well. Even reward points were given back.

Only gst of 35.82 was not reversed.

Do note this was my first EMI cancellation, I don't want to do this intentionally. due to some PG issues, my offer got used on croma.. so had to use the EMI offer.

Also unlike what others say, I wasn't asked to clear all my dues instantly, rather it was to be cleared by the next due date as per statement.

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Do They calculate the reward points at normal rate or accelerated rate (if applicable) when an emi is cancelled.

For eg: shopping via millenia cc on amazon gives cb  of 5% but for emi txns reward points are calculated to be given at 1%. If I foreclose the nc emi, how much rps can one expect? 

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Deal Cadet Deal Cadet
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If the merchant cancelled the order, then there are no EMI charges, correct?

Brand Enthusiast Brand Enthusiast
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Yes, with in 15 days of converting to emi
Deal Subedar Deal Subedar
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Has the EMI cancellation charges now imposed or still its free ? Also mention about the processing fee, if someone has recently cancelled their EMI ?

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