EMI POLICY
EMI is offered on Credit Cards from the following card issuing banks
- American Express
- Axis Bank
- HDFC Credit Cards
- CITI Bank
- Bank Of Baroda
- ICICI Bank
- IndusInd Bank
- Kotak Mahindra Bank
- RBL Bank
- Standard Chartered Bank
- Yes Bank
The option to select an EMI is available after you checkout and choose a card based payment mode. Steps Describe Below.
We utilise the services of well-known and highly respected payment processor(s), to handle financial transactions for the site including enabling an EMI via your card issuing bank. Remember, the EMI Facility & Rates that are offered are offered by your card issuing Bank and this facility is just enabled on our site via our payment processes(s)/payment gateways.
Please make sure you read thru the following details pertaining to availing EMI for product purchases.
The following Details are provided by third parties involved in the payment cycling and could change.
HOW TO AVAIL AN EMI ON OUR SITE
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.
HOW TO AVAIL AN EMI ON THE THE SITE
Step 1: After Entering the Contact Details & Delivery Address. Please Choose “Cards, Netbanking, Wallets and UPI” Payment Option and Click on Complete Order.
Step 2: After Clicking Complete Order, you will be redirected to another page, where you can choose the "Other Methods" Payment option and choose the EMI option as shows in the image below.
Step 3: You can now enter your Credit Card details and click on VIEW EMI PLANS to see available EMI Tenure, Interest Rate & Total Payable Amount for your transaction. Choose a suitable plan and complete your order.
EMI TENURE
EMI TERMS & CONDITIONS
1. Issuer bank’s credit card holder, at the time of making payment for products purchased from merchant, through services of our Payment Processor(s) 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 our Payment Processor(s)
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. Our Payment Processor(s) 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. HOMEGENIC & SONAM MARKETING and/or our Payment Processor(s) 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.