Amazon No Cost EMI on Credit Cards: Eligibility & How it Works

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As the saying goes, wishing and planning require equal energy. While humans often make wishes and work hard to make them come true, sometimes those wishes are financially out of reach. However, there is now a solution. Amazon, one of India's leading online shopping platforms, offers a No Cost Amazon EMI (Equated Monthly Instalment) option on Credit Card purchases.

This payment option has become popular amongst Credit Card holders due to its convenience. While availing the No Cost EMI scheme, customers making significant purchases won't have to pay interest; however, GST & processing fees may be applicable. Please read the terms & conditions of the offer carefully.

The Bank will continue to charge interest as per the Credit Card billing cycle. However, this interest cost is either given upfront as a benefit or credited to the customer’s card account within 90 to 120 days of the transaction conversion

Here, we will outline the steps involved in availing this financing scheme on Amazon.

Eligibility for No Cost EMI on Amazon

Certain terms and conditions exist for availing No Cost EMI scheme on Amazon using Kotak Credit Cards. They are as follows:

To be eligible for this payment option, you must make a minimum purchase of Rs 2,500 using your Kotak Mahindra Bank Credit Card.
Participating sellers and brands fund No Cost EMI. It is only available on particular products.
No Cost EMI can only be availed using a Credit Card. Other payment methods, such as net banking and cash on delivery, cannot be used.
This payment option can only be availed on eligible items added to the cart.
Customers can avail No Cost EMI only if the order is not cancelled or if the product is not returned or exchanged.

The No Cost EMI option is only available for select Credit Cards, including those from Kotak Mahindra Bank. Checking eligibility requirements before making a purchase is essential to have a seamless experience. Furthermore, being aware of Amazon's No Cost EMI and its eligibility beforehand can help customers save time and effort in pursuing an option that may not be suitable.

Steps to Avail Amazon’s No Cost EMI on Credit Cards

The process of utilising the No Cost EMI option is quite simple. To take advantage of this offer, follow the steps listed below:

Step 1: Choose a product eligible for No Cost EMI

While not all products on Amazon are eligible for the No Cost EMI option, many popular items are included in this scheme. To check whether a product is eligible for this payment option, refer to the offers and discounts section of the specific product page on Amazon. .

Step 2: Check the available EMI plans

Once you have verified that the product is eligible for the No Cost EMI option, to review the available EMI plans is essential. This payment option is available on multiple EMI tenures of 3, 6, 9, and 12 months, or more depending on the offer set by the brand. So you will need to choose one of these options.

Step 3: Select the desired EMI plan

It is essential to carefully examine how the No Cost EMI benefit works on Amazon using Credit Cards. Read all the terms and conditions of the offer carefully. You must check all the instalment options available under the scheme to select the one that best suits your financial needs.

Step 4: Add the product to your cart and proceed to checkout

Once you have confirmed that the product is eligible for the No Cost EMI option and have reviewed the available EMI plans, add the product to your cart and head to the checkout page. Select your shipping address and a payment method from there and confirm your order.

Step 5: Select your Credit Card and confirm the payment using the EMI option

Once you have selected the suitable EMI option, you will need to enter your card details, including the card number, the name on the card, and CVV (Card Verification Value) number.

Step 6: Monitor your Credit Card statement for the EMI payment schedule

After you have completed your purchase on Amazon using the No Cost EMI option, keeping track of your Credit Card statements is essential. It helps ensure your EMI payments are being processed correctly.

Remember that the No Cost EMI offer on Amazon is only available on select products. Nevertheless, following the steps above, you can easily understand what is No Cost EMI on Amazon and utilise this offer to make your purchases more affordable.

Also Read: Best Laptop Brands in India (2024) at No Cost EMI

Advantages of Amazon No Cost EMI on Credit Cards

No interest: No Cost EMI means that you will not be charged any interest for availing this payment option. (Bank will continue to charge interest + GST, however, the interest component would either be reversed upfront via reduction of product price, or the interest benefit will be credited to credit card within 90 to 120 days of EMI conversion)

The flexibility of payment: With this option, you can pay for your purchases in instalments. It will help you manage your finances flexibly and easily.

Good credit score: Making timely payments towards your EMI can help you build a good credit history that leads to a high credit score. It can benefit you when making future financial decisions. By knowing how Credit Card specific No Cost EMI works on Amazon and utilising it accordingly, you can manage your finances more effectively.

Easy repayment options: Breaking down your payments into instalments with the No Cost EMI option can be very beneficial. Instead of paying a large lump sum upfront, you can pay the same amount over some time.

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Conclusion

The No Cost EMI option on Amazon can be a convenient purchase method. However, please ensure that you pay off your monthly EMI instalments on time since it can affect your credit report.