What is MedDeal's credit card EMI option?
EMI is one of the payment methods available on MedDeal.in. It allows you to pay for your orders in easy monthly installments.
With MedDeal's credit card EMI option, you can choose to pay in easy installments of 3, 6, 9, 12, 18*, or 24 months* with credit cards from the following banks:
- ICICI Bank
- Axis Bank
- Yes bank
- American Express
- Central Bank of India
- IndusInd Bank
- RBL Bank
- Kotak Mahindra Bank
- Corporation Bank
- HSBC Bank
- Standard Chartered Bank
*18 & 24 months EMI options are available from select banks only. Please refer to the table below for more details:
|Banks||Supports 18 & 24 months tenure||Minimum order value to avail 18 & 24 months EMI options|
|Yes bank||Yes||₹ 4,000|
|Central Bank of India||No||NA|
|IndusInd Bank||Yes||₹ 4,000|
|RBL Bank||Yes||₹ 4,000|
|Kotak Mahindra Bank||Yes||₹ 4,000|
|Corporation Bank||Yes||₹ 4,000|
|HSBC Bank||Yes||₹ 4,000|
|Standard Chartered Bank||Yes||₹ 4,000|
There is NO processing fee charged for availing MedDeal's EMI payment option. On return or exchange, interest charged by the bank till that time will not be refunded by MedDeal.
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.
Example and Calculations:-
The table below shows a representative rendering of EMI plans for a Rs 20,000 purchase on MedDeal paid using the EMI payment plan.
|Tenure (months)||Loan amount||Monthly installment||Bank interest rate||Total effective price you pay||Interest paid to Bank|
|3||Rs 20,000||Rs 6,800.44||12.00%||Rs. 20,401.33||Rs. 401.33|
|6||Rs 20,000||Rs 3,450.97||12.00%||Rs 20,705.80||Rs. 705.80|
|9||Rs 20,000||Rs 2,344.32||13.00%||Rs 21,098.89||Rs. 1,098.89|
|10||Rs 20,000||Rs 1,786.35||13.00%||Rs 21,436.15||Rs. 1,436.15|
Making Payment with EMI Option-
Once you've added the desired items to your MedDeal shopping cart, proceed with your order as usual by entering your address. When you're prompted to choose a payment mode for your order, select 'EMI' & follow these simple steps:
- Choose your credit-card issuing bank you wish to pay from
- Select the EMI plan of your preference
- Enter your credit card details
- Click 'Save and Pay’
NOTE: full amount will be charged on your card the day of the transaction.