Query: Offline Merchant asking me to cancel the EMI

38°
Deal Cadet
chowdhry.sid...
I am purchasing an LG TV from an offline store, and the merchant mentioned there's an additional discount available for HDFC credit card holders in case I opt for EMI.

He suggested that I create an EMI plan and then cancel it by settling the full amount in the next statement.

I have the following questions:
1) Will I be charged any processing or foreclosure fees for canceling the EMI?
2) Will this impact my CIBIL score?
3) Is there anything else I should be aware of in this process?
8 Comments  |  
6 Dimers
  • Sort By
Deal Lieutenant Deal Lieutenant
Link Copied

Hdfc no cost emi cancellation is free and no impact on credit score. 

Nothing to worry about you can cancel from app also.

Deal Cadet Deal Cadet
Link Copied

It's not a no-cost EMI no_mouth

View 2 more replies
Commentator Commentator
Link Copied

No just close it you also save interest

Deal Cadet Deal Cadet
Link Copied

From the LG showroom, sure let me check!

Deal Cadet Deal Cadet
Link Copied

Which LG TV are you going for? I also got LG OLED 65C2 from Reliance Digital with ICICI CC EMI discount. I too am curious to know if I foreclose the 6 month EMI, will there be any penalty? If so, how much?

I had asked this question to Reliance Digital sales guy, he did say that there will be a penalty, but not sure if he really knew if that was really the case.

replyuser
Click here to reply
Reply