EMI

EMI on Credit Cards

  • Annualised rates for different banks are as follow

Bank Name

Min Amt

3 EMI

6 EMI

9 EMI

12 EMI

18 EMI

24 EMI

KOTAK

500

12%

12%

14%

14%

 NA

 NA

ICICI

1500

13%

13%

13%

13%

 NA

 NA

AXIS

2500

12%

12%

13%

13%

 NA

 NA

INDUSIND

2000

13%

13%

13%

13%

15%

15%

SBI

2500

14%

14%

14%

14%

 NA

 NA

HSBC

2000

13%

13%

14%

14%

14%

 NA

 

  • Indicative EMIs for different banks will be as follows if you are buying a product worth Rs.10,000

Bank Name

EMIs           3 months Tenure

EMIs           6 months Tenure

EMIs           9 months Tenure

EMIs            12 months Tenure

EMIs            18 months Tenure

EMIs            24 months Tenure

KOTAK

   3,400.22

   1,725.48

   1,176.93

        897.87

                   -  

                   -  

ICICI

   3,405.81

   1,730.43

   1,172.16

        893.17

                   -  

                   -  

AXIS

   3,400.22

   1,725.48

   1,172.16

        893.17

                   -  

                   -  

INDUSIND

   3,405.81

   1,730.43

   1,172.16

        893.17

          623.85

          484.87

SBI

   3,411.41

   1,735.38

   1,176.93

        897.87

                   -  

                   -  

HSBC

   3,403.02

   1,727.96

   1,174.54

        895.52

          616.81

                   -  

  • The issuing bank may modify the terms of the EMI offering at any time. Further, the issuing bank may, at its sole discretion, choose to reject or change the EMI tenure (on the basis of customer history, amount of transactions, etc.) or withdraw the EMI scheme completely. For all such cases, customers must follow up with the issuing banks and FitnessOne Group India Limited (herein referred as FitnessOne) will not be responsible for any rejection.
  • FitnessOne shall not be responsible for any disputes arising due to the non-conversion of a transaction into EMIs. Customers will have to inquire about the status of their EMI requests from their issuing banks.
  • Every bank has its own threshold value above which, a credit card holder may avail of the EMI facility while ordering Fitness Equipment / Membership from FitnessOne. The threshold value is decided by each particular bank and is in the range of Rs. 500-3000, varying from bank to bank. Refer to the below table for interest rates and threshold value.

  • EMI transaction requests, once submitted, cannot be cancelled / modified / reversed.

FAQs

Question: I have been charged the complete amount on my card, while I thought it would be an EMI transaction. What happened? 

All transactions will only be converted into EMI transactions in the offline mode. This means that initially, you’ll be charged the full amount, which, later will be converted to an EMI transaction, normally within 5-7 working days. Until then, it would only be a full amount transaction on your credit card. Please contact your card-issuing bank in case 7 working days have elapsed since your transaction and it is yet to be converted to EMIs.

Question:  I tried contacting my issuing bank but they seem to have no information on the EMI conversion and it’s been 2 days since I made that transaction. Pls Help! 

Our payment aggregator (PayU) will send the details of the settled transactions for conversion to EMI along with their complete details, normally within 2-3 business days from the date of the transaction to the various card-issuing banks. Once this information is shared, the issuing bank(s) can help you with the status of the transaction.

Question: It’s been a week but the transaction amount has not been converted into EMIs yet. What do I do?

Please contact your card-issuing bank in case 7 working days have elapsed and the transaction has not yet been converted to EMIs. Please note that FitnessOne is just a facilitator and has no say in the approval/delay/rejection process in the conversion of the transactions into EMIs. This is done at the sole discretion of the card-issuing bank.

Question: My credit card bill is here and it shows that I’ve been charged the complete amount. HELP.

Please check the transaction date and customer bill generation date. If the period elapsed is more than 7 working days, then you’ll need to speak to the card-issuing bank to determine how much to pay. The bank might choose to convert the EMI at a later date and change the bill payment.

Question: Why is sum total of all the EMIs more than the transaction amount?

The issuing bank charges interest at an annualised rate per EMI transaction. The interest rates are decided by the bank and displayed at the time of completing the transaction.

Question: My issuing bank has rejected the EMI conversion. How will the debited amount get adjusted to my account?

If the issuing bank cancels the EMI conversion, it will be converted into a normal credit card transaction. If you want to cancel the transaction, please refer to our cancellation policy. If your request is in line with our cancellation policy, we will raise a request with PayU, who will then coordinate with the issuing bank to help you with the refund.

Please call +91 9790940307 more details.