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    TNC Grab Deals Merchant

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    Ruchita Jain
    This document outlines the terms and conditions for converting credit card purchases over INR 2,500 into equated monthly installments (EMI) with Axis Bank. Key details include: - Purchases can be paid back in installments over 3-24 months at reduced interest rates compared to revolving credit. - The EMI amount is added to the minimum payment due each month. - Reward points earned on the original transaction are reversed if converted to EMI. - The credit card must remain open for the loan period, otherwise outstanding EMIs become due immediately. - Axis Bank reserves the right to amend the terms and reject or cancel EMI requests at its discretion.

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    © All Rights Reserved
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    TNC Grab Deals Merchant

    Uploaded by

    Ruchita Jain
    30 views2 pages
    This document outlines the terms and conditions for converting credit card purchases over INR 2,500 into equated monthly installments (EMI) with Axis Bank. Key details include: - Purchases can be paid back in installments over 3-24 months at reduced interest rates compared to revolving credit. - The EMI amount is added to the minimum payment due each month. - Reward points earned on the original transaction are reversed if converted to EMI. - The credit card must remain open for the loan period, otherwise outstanding EMIs become due immediately. - Axis Bank reserves the right to amend the terms and reject or cancel EMI requests at its discretion.

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    Tnc Grab Deals Merchant

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    This document outlines the terms and conditions for converting credit card purchases over INR 2,500 into equated monthly installments (EMI) with Axis Bank. Key details include: - Purchases can be paid back in installments over 3-24 months at reduced interest rates compared to revolving credit. - The EMI amount is added to the minimum payment due each month. - Reward points earned on the original transaction are reversed if converted to EMI. - The credit card must remain open for the loan period, otherwise outstanding EMIs become due immediately. - Axis Bank reserves the right to amend the terms and reject or cancel EMI requests at its discretion.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    30 views2 pages

    TNC Grab Deals Merchant

    Uploaded by

    Ruchita Jain
    This document outlines the terms and conditions for converting credit card purchases over INR 2,500 into equated monthly installments (EMI) with Axis Bank. Key details include: - Purchases can be paid back in installments over 3-24 months at reduced interest rates compared to revolving credit. - The EMI amount is added to the minimum payment due each month. - Reward points earned on the original transaction are reversed if converted to EMI. - The credit card must remain open for the loan period, otherwise outstanding EMIs become due immediately. - Axis Bank reserves the right to amend the terms and reject or cancel EMI requests at its discretion.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Terms & Conditions - Merchant EMI on Axis Bank Credit Cards

    No matter how big your next Credit Card purchase, go right ahead. Just contact us and convert your transaction of
    INR 2,500 or more into EMI.

    Pay in Parts: Now you don't need to pay back the entire amount upfront when you make big Credit Card
    purchases. Just enjoy the convenience of paying back in easy EMI.

    Reduced interest rate: You enjoy a lower interest rate than the revolving interest rate you would normally pay on
    your Credit Card. Now convert your transaction into EMI at Rate of Interest as per tenure option at monthly
    reducing balance.

    You have the option of converting your transaction of INR 2,500 or more into 3, 6, 9, 12, 18 or 24 month EMI.

    EMI per Rs. 1000 for each of these tenures is given below:
    Tenure Option Monthly Installments Per Rs. 1,000

    3 Months Rs. 340.00

    6 Months Rs. 173.00

    9 Months Rs. 117.00

    12 Months Rs. 89.00

    18 Months Rs. 62.00

    24 Months Rs. 48.00

     The value of the credit card transaction should be INR 2,500 or more to be eligible for conversion of transaction to
    EMI. Other debit transactions like cash withdrawals, Balance Transfer and card fees will not be eligible for this
    facility.
     Request for conversion of transaction into EMI will be processed only if the request for the same is received within
    30 days from the date of purchase
     The Equated Monthly Installment (EMI) amount will be billed to the credit card every month on the same date as
    the first installment date.
     The entire EMI amount will be included in calculation of Minimum Amount Due payable by the cardholder.
     On availing the EMI facility the reward points if any that have been accrued on the Original transaction shall be
    reversed.
     During the running period of EMI's the cardholder cannot close the Axis Bank credit card. However if he does so,
    before all installments have been posted, the outstanding EMI Principal amount will be debited to the card
    account as one consolidated amount and regular interest applicable to credit card shall be charged.
     If customer opts for foreclosure or cancellation of EMI facility, customer will have to inform the customer service
    of Axis bank for discontinuing the EMI facility. The cancellation will not be automated. EMI cancellation request
    should be given at least 1 working day before the due date.
     Axis Bank reserves the right to foreclose the loan and debit the entire outstanding amount to customers credit
    card statement if the customer defaults on payment of two consecutive EMIs.
     Any requests by add-on cardholders will be billed to the primary card.
     No request for changes in the billing cycle shall be entertained during the entire loan period. The loan period is
    defined as the loan tenure selected by the cardholder at the time of request.
     Service Tax will be applicable on interest amount and will be billed in the same statement in which the above
    charges are levied.
     Axis Bank reserves the right at any time without previous notice to add, alter, modify, change or vary all or any of
    these Terms and Conditions or to replace, wholly or in part, this scheme by another scheme, whether similar to
    this scheme or not, or to withdraw it altogether. Which if done shall be binding on the cardholder and the
    cardholder shall abide by the said rules. If withdrawn, those who have opted shall continue to get the right to pay
    through EMIs for the already approved conversion.
     The Bank may at its sole discretion accept or reject the EMI conversion request without assigning any reason
    whatsoever.
     The participants will not hold Axis Bank responsible for or liable for, any actions, claims, demands, losses, damages,
    costs, charges, and expenses that a participant may suffer, sustain or incur by way of this scheme.
     All and any disputes arising from the EMI facility shall be subject to the exclusive jurisdiction of the courts of
    Mumbai.
     Jewelry/Gold transaction are not eligible for EMI conversion.
     EMI facility is not available for Corporate Cards.

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