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  • No Cost EMI on Amazon

    As someone has rightly put, "It takes as much energy to wish as it does to plan." Human life surrounds around making wishes and working towards making them come true. However, a lot of times, the things we wish for remain monetarily unattainable. But not any more. One of the largest online shopping portals in India, offers its customers the no-cost EMI option on mobile. This finance scheme has gained popularity amongst consumers because of the convenience it offers. There are no additional costs applied to the EMIs under this scheme. So, while making a big-ticket purchase, customers will not have to pay a processing fee, an interest or a down payment. However, offers no-cost EMIs only on tenures of 3, 6, 9, and 12 months. If the customer avails a tenure of more than 12 months, they will need to pay an interest for the product they purchase. Let us take a look at the processes involved in this finance scheme offered by

    How Does The Facility Of No-cost Emis Work On

    To get a fair idea about how the facility of no-cost EMIs works on, let us make a simple comparison of an air conditioner bought on the portal under a standard EMI scheme and the same product bought under a no-cost EMI scheme. Suppose the AC is available on for Rs.37,999.

    Listed below are the interest rates charges by some of the bank credit cards that the buyer will have to pay while buying the AC under a standard EMI and a no-cost EMI scheme:

    • A regular EMI scheme: While buying the AC on, if the customer chooses a regular EMI option, they will have the following tenure options to pick from and the interest rates will be decided accordingly. However, the customer will not have to pay a processing or convenience fee while making an EMI transaction:
    Name of the Credit Card Tenure Rate of Interest (per annum)
    SBI Credit Card 3 months 14%
    6 months 14%
    9 months 14%
    12 months 14%
    18 months --
    24 months --
    Axis Bank Credit Card 3 months 12%
    6 months 12%
    9 months 13%
    12 months 13%
    18 months 15%
    24 months 15%
    Citibank Credit Card 3 months 13%
    6 months 13%
    9 months 15%
    12 months 15%
    18 months 15%
    24 months 15%
    HDFC Credit Card 3 months 13%
    6 months 13%
    9 months 14%
    12 months 14%
    18 months 15%
    24 months 15%
    HSBC Credit Card 3 months 12.5%
    6 months 12.5%
    9 months 13.5%
    12 months 13.5%
    18 months 13.5%
    24 months 15%
    IndusInd Bank Credit Card 3 months 13%
    6 months 13%
    9 months 13%
    12 months 13%
    18 months 15%
    24 months 15%
    Kotak Mahindra Bank Credit Card 3 months 12%
    6 months 13%
    9 months 14%
    12 months 14%
    18 months 15%
    24 months 15%
    Standard Chartered Bank Credit Card 3 months 13%
    6 months 13%
    9 months 14%
    12 months 14%
    18 months 15%
    24 months 15%
    RBL Bank Credit Card 3 months 13%
    6 months 13%
    9 months 13%
    12 months 13%
    18 months 13%
    24 months 13%
    YES Bank Credit Card 3 months 12%
    6 months 12%
    9 months 13%
    12 months 13%
    18 months 14%
    24 months 15%
    • Under a no-cost EMI: If an individual purchases the AC priced at Rs.37,999 under a no-cost EMI, they will not have to pay an interest only if they choose an EMI tenure of 3, 6, 9, or 12 months. If they chose a tenure of 18 or 24 months, the bank will charge them a standard interest rate. To further explain the concept of no-cost EMIs on, let’s use an example. Suppose the customer has chosen to the pay the principal amount, which Rs.37,999 in 6 months. In this case, they will receive a no-cost EMI discount at the time of placing the order. The principal amount will be blocked by their preferred bank and after a few days, it will be converted into EMIs. Since there are no additional costs involved in a no-cost EMI scheme, the customer ends up paying only the principal amount, which is Rs.37,999 in six different instalments.

    How To Avail A No-cost EMI On

    In order to avail a no-cost EMI option on, the customer will need to follow the steps listed below:

    • Once they finalise the product that they want to buy on the website, they will have to check the product's eligibility for no-cost EMI.
    • After confirming that the product is available under the no-cost EMI option, they need to go through all the instalment options available under the scheme.
    • Next, they will need to select the tenure and EMI option that on the payment page.
    • After selecting the suitable EMI option, they will need to fill in their card details including the card number, the name on the card and the CVV number.
    • Once they type in the above-mentioned details, the transaction will be processed.

    Products On Which No-cost EMIs Are Applicable On Amazon.In

    The no-cost EMI scheme on is applicable on a minimum cart value of Rs.3,000 or more. Listed below are the categories of products that come under the website's no-cost EMI scheme:

    • Mobiles
    • Audio sets
    • Washing machines
    • Echo and Kindle e-reader
    • Televisions
    • Refrigerators
    • TV units
    • Laptops and tablets
    • Dining sets
    • Sofas
    • Cameras
    • Beds
    • Air conditioners
    • Home and kitchen appliances
    • Wardrobes
    • Coffee tables
    • Recliners
    • Microwave ovens

    Partner Banks has partnered with 12 different banks to offer the no-cost EMI scheme to its customers. Individuals who want to avail this scheme should own a credit card from the partner banks or an HDFC debit card. Mentioned below are the names of the banks that have partnered with for this scheme:

    • Axis Bank
    • Citibank
    • HDFC Bank
    • HSBC Bank
    • IndusInd Bank
    • Kotak Mahindra Bank
    • SBI
    • Standard Chartered
    • RBL
    • Yes Bank

    FAQs on no-cost EMIs on

    1. Can I avail the option of no-cost EMIs along with Amazon Pay Balance?

      No, you cannot club these two option while purchasing a product on

    2. Is this scheme available along with exchange offers?

      Yes, the no-cost EMI can be availed along with an exchange offer. In such a situation, the EMI amount will be calculated on the decreased principal amount.

    3. How long does it take to process an EMI?

      It take 3 to 5 business days to process an EMI.

    4. Will I be able to avail the no-cost EMI scheme while shopping on the mobile app?

      Yes, this scheme is available on purchases made on the website’s mobile app version as well.

    5. Will I need to make a down payment to avail this scheme?

      No, you will not have to pay a down payment under the no-cost EMI scheme.

    6. I have the FinBooster: Yes Bank - BankBazaar Co-branded Credit Card, will I be provided the no cost EMI option for any purchases made on Amazon?

      You can either contact YES Bank’s customer care or check on the official website of Amazon to check if the no cost EMI facility is offered on the FinBooster: Yes Bank - BankBazaar Co-branded Credit Card.

    News About No Cost EMIs on Amazon

    • Amazon offering discounts on purchasing of items including smartphones

      The first phase of Amazon’s Great Indian Festival came to an end recently, following which the second phase will begin on 12 October. The second phase promises to provide various discounts on items especially smartphones purchased on the e-commerce website and payment made through credit cards and debit cards.

      Customers who make the payment using their RuPay cards will enjoy a rebate of 10% on items purchased on the Amazon website. If one makes the payment through Amazon UPI then they will be able to enjoy a discount of 10% for up to Rs.100. There is also an offer which allows customers to redeem Diamonds for guaranteed cashback. Customers ordering for the first time from Amazon will be exempted from paying the shipping charges.

      Currently, various discounts are on offer for various items including smartphones. Hence, if you are looking to purchase smartphones then now is a good time to buy them from Amazon at a much cheaper rate. For instance, the original price of an Apple iPhone11 64 GB is Rs.49,999. However, on Amazon, you can purchase it at a discount of 20% with the price being Rs.39,999. If you purchase the phone by exchanging your previous smartphone, then you will be able to enjoy a further discount of Rs.15,000. If you make the payment through Amazon UPI, then you will be able to enjoy a discount of 10% for up to Rs.100. Customers can avail of the no-cost EMI facilityon paying through certain specified credit cards.

      11 October 2021

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