Info for all on NC EMI cancellation IDFC

124°
Helpful
dealseeker402
You will be charged 1% of the transaction amount as processing fee and GST given you have cancelled the EMI the on the same day it is getting converted to EMI.
Couldn't find anything here and just tried.
You can do it from the app itself.
..


3% foreclosure charge seems to be applicable after 7 daysIMG20240102110134https://www.idfcfirstbank.com/personal-banking/...


Top Comments
21 Comments  |  
6 Dimers
  • Sort By
Deal Lieutenant Deal Lieutenant
Link Copied

is there any other charge, like preclosure charge of 3%

Helpful Helpful
Link Copied

No man I got only charges 1%

View 5 more replies
Finance Ninja Finance Ninja
Link Copied

How to cancel emi from the app ?

Helpful Helpful
Link Copied

Go to Credit Card Page --> select Credit Card --> scroll down to bottom  and you will see CREDIT CARD EMIs --> select Manage for converted transaction --> select your EMI --> foreclose EMI --> validate charges and confirm

View 1 more reply
Deal Cadet Deal Cadet
Link Copied

Idfc emi preclosure charges 3% plus gst within 7 days also

Deal Lieutenant Deal Lieutenant
Link Copied

@navkr any other charges you are seeing in your unbilled/statement apart from 1%+GST

Helpful Helpful
Link Copied

Cannot edit the post man. I wanted to update everyone that IDFC is following malpractice it showed me around 0 charges and then charged me 3% I have raised it nodal officer for waiving off these charges let's see

View 1 more reply
Generous Generous
Link Copied

NC EMI cancellation is almost not benificial, every bank charges EMI processing fee 199 plus GST.Then Forclosure charges being added up.

I think only CIti bank and ICICI NC EMI cancellation is a bit better as citi dont have emi processing fee and sometimes ICICI reverses it.

Helpful Helpful
Link Copied
It is man depends on. If you get 12k discount because of NCEMI. 199 doesn't matter
View 2 more replies
replyuser
Click here to reply
Reply