EMI Plans
EMI plans allow you to pay for your gear in the time that is suitable for you. Our EMI plans start from a minimum of 3000 Rupees. So, now there is nothing that can stop you to get the gear you have laid your eyes on.
Our EMI Partners for Credit Cards are:
The interest rates vary from bank to bank. Following are the EMI plans for you to choose from:
Bank | ICICI | Axis | Kotak | IndusInd | HSBC | Central Bank of India | Standard Chartered | Corporation | Ratnakar | HDFC |
3 Months | 13% | 12% | 12% | 14% | 12.5% | 13% | 13% | - | 13% | 13% |
6 Months | 13% | 12% | 12% | 14% | 12.5% | 13% | 13% | 16% | 13% | 13% |
9 Months | 13% | 13% | 14% | 14% | 13.5% | 14% | 14% | 18% | 13% | 14% |
12 Months | 13% | 13% | 14% | 14% | 13.5% | 14% | 14% | 18% | 13% | 14% |
18 Months | - | - | 15% | - | 13.5% | - | 15% | - | 13% | - |
24 Months | - | - | 15% | - | - | - | 15% | - | 13% | - |
Min Amount | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 2000 | 2500 | 3000 | 3000 |
The rates shown above are annualized interest rates charged on a monthly reducing balance. This means that the principal amount is reduced with every EMI and the interest is calculated on the outstanding balance.
There is no processing or convenience fee charged on any EMI transaction.
Here is an Example of a Product that cost Rs. 10,000.00
Purchase Amount
(at Musicshack.com) |
EMI
(payable monthly to bank) |
Interest rate
(charged by bank) |
Total Cost
(payable to bank) |
Total Interest
(payable to bank) |
|
3-months | Rs. 10,000 | Rs. 3400.22 | 12% | Rs. 10,200.66 | Rs. 200.66 |
6-months | Rs. 10,000 | Rs. 1725.48 | 12% | Rs. 10,352.90 | Rs. 352.90 |
9-months | Rs. 10,000 | Rs. 1181.71 | 15% | Rs. 10,635.35 | Rs. 635.35 |
12-months | Rs. 10,000 | Rs. 902.58 | 15% | Rs. 10,831 | Rs. 831 |
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.
EMI Purchases cannot be split across multiple cards. Please use only one card for one transaction.