Are there any interest charges on EMI?

Customers who opt for EMI scheme at HomeShop18.com will be charged monthly interest by their card issuing bank. The interest charged by banks will be calculated on a monthly reducing balance basis. In monthly reducing cycle, the principal is reduced with every EMI and the interest is calculated on outstanding balance.

 

The interest charges for different banks are mentioned below:

 

EMI Tenure

ICICI

Citibank

HDFC

3 months

13% per annum

13% per annum

13% per annum

6 months

13% per annum

13% per annum

13% per annum

9 months

13% per annum

15% per annum

14% per annum

12 months

13% per annum

-

14% per annum

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