EMI is offered on Credit Cards from the following card issuing banks - Kotak, HSBC, AXIS, Yes bank, RBL, Standard Chartered, ICICI & IndusInd Bank.
We utilise the services of PayU, a well-known and highly respect payment processor, to handle our financial transactions for the site including enabling an EMI via your card issuing bank. PayU is one of the largest consumer payment processors globally - with the parent company bringing in about $15 Billion (that's a lot of bicycles!) and have a rock solid India team who are responsive and top of their game.
Please make sure you read thru the following details pertaining to availing EMI for product purchases.
Details are provided by PayU and are subject to change.
1. Select your preferred EMI option at the payment page.
2. Final EMI is calculated on the total value of your order at the time of payment.
3. The Bank charges annual interest rates according to the reducing monthly balance. In the monthly reducing cycle, the principal is reduced with every EMI and the interest is calculated on the outstanding balance.
4. In case of any kind of refund in an EMI transaction, interest already billed in a particular transaction will not be refundable under any circumstances. You may check with the respective bank/issuer on how a cancellation, refund or pre-closure could affect the EMI terms, and what interest charges would be levied on you for the same.
Please use the website chat or get in touch with us for further assistance on EMIs.
Yes, each bank has a lower limit below which an EMI cannot be issued. It's different for different banks. Please cross check this against your card issuing bank.
AXIS Bank - Rs. 500
HDFC Bank - Rs. 3000
HSBC Bank - Rs. 2000
ICICI Bank - Rs. 500
INDUSIND Bank - Rs. 2000
KOTAK Bank - Rs. 2000
STANCHARTERED Bank - Rs. 2000
RBL Bank - Rs. 500
YES Bank - Rs. 2500
EMI's are actually issued by your card issuing bank (the bank which approved your credit card). At the moment we have only the following banks which have approved us to submit an EMI on your behalf.
HDFC Bank (under process)
We're unfortunately unable to offer an EMI if you own a Credit Card that' not on the above list of banks.
At first, the full amount is charged and later converted into an EMI (normally within 7 working days). Please contact your card issuing bank in case 7 working days have passed and your transaction has not been converted to EMIs.
The issuing bank will receive the EMI request after at least 3 working days of the transaction. Earlier to this, your card issuing bank might not be able to give you a status update on your EMI conversion.
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.
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.
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.
Customer needs to pay full amount of the transaction to bank, since EMI facility is at sole discretion of the issuing bank
Sorry. The EMI facility is at sole discretion of the card issuing bank. We are not really involved in the EMI conversion process and you will need to take up this matter with your bank.
1. Issuer bank’s credit card holder, at the time of making payment for products purchased from merchant, through PayU services may opt for cards EMI based purchase.
2. At the time of transaction, issuer banks’ credit card holders’ card are charged in full amount by the acquiring bank of PayU.
3. The merchant shall endeavour to deliver the product/service only after receiving a confirmation from the customer that said transaction has been converted into EMI
4. PayU shall send details of the settled transactions for conversion to EMI along with its complete details, not later than 2 business days from the date of transaction to card issuing bank.
5. The transactions shall be converted to EMI transactions in offline mode
6. The issuer bank shall endeavour to convert all transactions approved by them to EMI within 5 business days.
7. An EMI calculator needs to be available on the website before the payment page to explain the EMI calculation to the end customer and assist the customer in taking an informed decision.
8. The issuing bank may modify the terms of the EMI offering at any time. Further, the issuing bank may at its sole discretion chose to reject or change EMI tenure (basis customer history, amount of transaction) or withdraw EMI scheme completely.
9. PayU shall not be responsible to the merchant of the issuer banks credit cardholder for any disputes arising due to non-conversion of a transaction to EMI or informing the merchant about EMI rejection. The customer will have to inquire about the status of their EMI request from their issuing bank.