EMI - Frequenty Asked Questions | ChooseMyBicycle.com
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31st December 2017 | 19:00hrs

EMI Frequently Asked Questions

Please read the following details pertaining to availing EMI for product purchases. Details are provided based on PayU and are subject to change.

1. I have been charged full amount of the transaction.

At first full amount is charged and later converted in EMI normally within 7 working days. Please contact your card issuing bank in case 7 working days have passed and transaction has not been converted to EMIs.

2. My issuing bank call center has no information on EMI conversion.

The issuing bank will receive EMI request after at least 3 working days of the transaction. Then status of transactions can be provided by issuing banks.

3. The transaction amount has not converted into EMI in 7 working days.

Please contact your card issuing banks in-case 7 days have passed and transaction has not been converted in EMI. Conversion of transaction into EMI is at the sole discretion of card issuing bank and can also be rejected in unfortunate circumstances.

4. My bill has been generated and full amount has been charged to me.

Please check transaction date and customer bill generation date, if the period is less than 7 working days then customer needs to speak to issuing bank to determine how much to pay. The bank might convert the EMI at a later date and change bill payment.

5. Sum total of all EMIs is more than the transaction amount.

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

6. Bank has rejected EMI conversion.

Customer needs to pay full amount of the transaction to bank, since EMI facility is at sole discretion of the issuing bank. Or customer can refer to refund/return policy of the merchant.

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