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    No Cost EMIs on Flipkart

    They say nobody has a control over whims and wishes. This saying stands true in the case of making big-ticket purchases. Be it the mobile that you have been eagerly waiting for months now or the music system that has ruled your fancy for quite some time. Fancy and emergency don’t come with a warning. So, it is almost impossible for everybody to be prepared for an uber expensive gadget or appliance all the time. If you are placed in a situation like this, worry not! Online shopping giant, Flipkart has come to your rescue with their no-cost EMIs.

    Convenient and easy-to-avail, no-cost EMIs were launched by Flipkart to help their customers buy expensive gadgets and appliances without having to burn a hole in their pockets. You can avail this finance scheme without having to pay an interest, a processing fee, or a down payment. This system of payment is free of any kind of additional cost. All you need to do is pick an EMI tenure that suits your pocket the most and you can take home that fancy washing machine or the high-end television that you have been wishing to buy for a long time. Let us take a look at the processes that a customer has to follow to avail the facility of no-cost EMIs.

    How Does the Facility of No-Cost EMI Work on Flipkart

    To understand how the facility of a no-cost EMI works on Flipkart, let us make a simple comparison between a mobile bought on a regular EMI scheme and the same product bought under a no-cost EMI scheme. Suppose the mobile is available for Rs.12,499 on Flipkart.

    Regular EMI Scheme vs No-Cost EMI Scheme

    Listed below are the interest rates charged by some of the banks that the customer will have to pay while buying it on a regular EMI scheme and a no-cost EMI scheme:

    A Regular EMI Scheme:

    While buying a mobile that costs Rs.12,499 on Flipkart, if the customer chooses a regular EMI option, they will have the following options to pick from depending on the card they have:

    Name of the bank

    Standard EMI Plan

    Amount

    American Express

    6 EMIs at 12% per annum

    9 EMIs at 12% per annum

    12 EMIs at 12% per annum

    Rs.2,157 per month

    Rs.1,460 per month

    Rs.1,111 per month

    Axis Bank

    6 EMIs at 12% per annum

    9 EMIs at 13% per annum

    12 EMIs at 13% per annum

    18 EMIs at 15% per annum

    24 EMIs at 15% per annum

    Rs.2,157 per month

    Rs.1,466 per month

    Rs.1,117 per month

    Rs.780 per month

    Rs.607 per month

    Citibank

    6 EMIs at 13% per annum

    9 EMIs at 15% per annum

    12 EMIs at 15% per annum

    18 EMIs at 15% per annum

    24 EMIs at 15% per annum

    Rs.2,163 per month

    Rs.1,478 per month

    Rs.1,129 per month

    Rs.780 per month

    Rs.607 per month

    HDFC Bank

    6 EMIs at 13% per annum

    9 EMIs at 14% per annum

    12 EMIs at 14% per annum

    18 EMIs at 15% per annum

    24 EMIs at 15% per annum

    Rs.2,163 per month

    Rs.1,472 per month

    Rs.1,123 per month

    Rs.780 per month

    Rs.607 per month

    HSBC

    6 EMIs at 12.5% per annum

    9 EMIs at 13.5% per annum

    12 EMIs at 13.5% per annum

    Rs.2,160 per month

    Rs.1,469 per month

    Rs.1,120 per month

    ICICI Bank

    6 EMIs at 13% per annum

    9 EMIs at 13% per annum

    12 EMIs at 13% per annum

    18 EMIs at 15% per annum

    24 EMIs at 15% per annum

    Rs.2,163 per month

    Rs.1,466 per month

    Rs.1,117 per month

    Rs.780 per month

    Rs.607 per month

    IndusInd Bank

    6 EMIs at 13% per annum

    9 EMIs at 13% per annum

    12 EMIs at 13% per annum

    18 EMIs at 15% per annum

    24 EMIs at 15% per annum

    Rs.2,163 per month

    Rs.1,466 per month

    Rs.1,117 per month

    Rs.780 per month

    Rs.607 per month

    Kotak Bank

    6 EMIs at 12% per annum

    9 EMIs at 14% per annum

    12 EMIs at 14% per annum

    18 EMIs at 15% per annum

    24 EMIs at 15% per annum

    Rs.2,157 per month

    Rs.1,472 per month

    Rs.1,123 per month

    Rs.780 per month

    Rs.607 per month

    How to Avail a No-cost EMI on Flipkart

    To avail a no-cost EMI option on Flipkart, buyers will need to follow the steps listed below:

    • Once they select the product, they will need to search for the "No-Cost EMI" option that will be listed on the right hand side of the page and under the offers section.
    • Under the "No-Cost EMI", they will get to see the plans that are available for that particular product.
    • Next, from a list, they will need to select their preferred bank and the tenure of the instalment.
    • Then, they will have to click on the "Continue" tab and place their order.
    • In the payment mode, they will need to select "No-cost EMI."
    • Next, they will need to enter details like their credit card number, expiry date, and the OTP that will be sent to them on their registered email id.
    • Once, they enter the OTP, their transaction will be completed.

    Products on Which No-Cost EMIs Are Applicable on Flipkart

    The no-cost EMI scheme is applicable on a minimum cart value of Rs.3,000 and above. Mentioned below are the categories of products that offer the no-cost EMI option to the buyers:

    1. Mobiles
    2. Apparels
    3. Footwear
    4. Television
    5. Large electrical appliances
    6. Lifestyle accessories
    7. Furniture

    Partner Banks Offers No-Cost EMI on Flipkart

    13 different banks have partnered with Flipkart to offer the customers of this online shopping website no-cost EMIs. Hence, all the customer has to do is find their preferred bank from the list of credit cards that are accepted to avail this scheme and proceed to the payment page. Listed below are the names of the banks that offer the no-cost EMI service in partnership with Flipkart:

    1. American Express Bank
    2. Bajaj Finserv
    3. Citibank
    4. HDFC Bank
    5. HSBC
    6. ICICI Bank
    7. IndusInd Bank
    8. Kotak Bank
    9. Standard Chartered Bank
    10. State Bank of India
    11. Yes Bank

    FAQs on No-Cost EMIs on Flipkart

    1. Will I need to make a down payment if I wish to buy a laptop under the no-cost EMI scheme on Flipkart?
    2. You will not have to make any down payment while availing this scheme. However, while selecting the product, you will need to check whether this scheme is available among the listed payment options.

    3. What kind of documentation will I need to fulfil in order to avail this scheme?
    4. This easy-to-avail documentation does not require any kind of documentation. You will just have to fill in your credit card details on the payment page.

    5. Is the return policy the same under the no-cost EMI scheme as the one under a regular EMI scheme?
    6. The set of rules and regulations under the refund policy are different from those under a standard EMI policy. In a situation where you would want to return the product purchased under a no-cost EMI scheme, you will have to contact the issuing bank to guide you on the refund and cancellation of the EMIs.

    7. How long does it take to process the EMIs under this scheme?
    8. It takes 3-5 working days to process an EMI under this scheme.

    9. While shopping online, will I be given a no-cost EMI option on exchanging an old product to purchase a new one?
    10. Yes, you can avail the same on exchanging products as well. However, the EMI amount will be calculated on the basis of the amount that will be reduced.

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