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SBI credit card emi foreclosure charges

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Entertainer
rajarew

Guys,I wish to buy a phone using SBI cc,if I opt for no cost emi and later if I foreclose the emi ,will they levy any charges?

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Deal Subedar Deal Subedar
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Yes, usually they will charge

Entertainer Entertainer
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dlhntr wrote:

Yes, usually they will charge

Kg+,Any exact % bro?

Cool Cool
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3% on principle amount and gst on 3%

Entertainer Entertainer
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TEMPER wrote:

3% on principle amount and gst on 3%

Cool ,kg+ ,bro check pm once

Deal Subedar Deal Subedar
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can we cancel before conversion to emi? will that also attract charges?

Entertainer Entertainer
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Offerer wrote:

can we cancel before conversion to emi? will that also attract charges?

Yes as temper above said sbi charges foreclosure charges .u will save some 1 or 2% max

Deal Subedar Deal Subedar
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https://cdn0.desidime.com/attachments/photos/645050/medium/7024622fd4VnJ7.png?1603171514

As per “Ask EVA”, it says EMI can be cancelled within 45 days without any charge.
Can anyone confirm this?

Entertainer Entertainer
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Offerer wrote:

https://cdn0.desidime.com/attachments/photos/645050/medium/7024622fd4VnJ7.png?1603171514

As per “Ask EVA”, it says EMI can be cancelled within 45 days without any charge.
Can anyone confirm this?

Probably they changed the t&c now?at past i called them and foreclose within 2 days.but they charged foreclosure charges.and ya call sbi card they will clarify.

cc- @TEMPER

Deal Subedar Deal Subedar
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TEMPER wrote:

3% on principle amount and gst on 3%

Same for hdfc?

Deal Lieutenant Deal Lieutenant
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any concrete answers? can i cancel emi in 2 days and pay? plus does sbi give reward points for emi?

Deal Cadet Deal Cadet
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You need to buy another item with your phone on EMI than cancel the another after your order so merchant will issue the refund and delivered the phone to you. Now after seeing refund in your card you just need to call SBI and ask him to cancel the EMI as some product has been cancel and merchant had issue refund and you are ready to pay full amount so they will cancel the EMI without any charge and you will get full bill without any EMI and charges. I done this few years ago might be now they are taking request or not.

Pls. try this and update

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