What EMI or Finance options are available?

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At Shop at SYG, You can purchase any gadget through an EMI option at our checkout page. Shop at SYG is the first-ever online website that helps its users to avail EMI/Finance options on Used Gadgets.

You can Avail yourself For Credit Card EMIs, Debit Card EMIs, and Cardless EMIs.

Credit Card EMIs

The standard interest rates charged by various banks for each of the tenures are provided for your reference. The minimum transaction amount for which EMIs are applicable can vary for each bank. The maximum amount is dependent on the card limit set by the issuing bank.

Bank Code Issuer Bank Minimum Amount (in INR) 3 months 6 months 9 months 12 months 18 months 24 months
AMEX
American Express
5000
14%
14%
14%
14%
14%
14%
BARB
Bank of Baroda
2500
13%
13%
13%
13%
15%
15%
ICIC
ICICI Bank
1500
12.99%
13.99%
13.99%
13.99%
14.99%
14.99%
INDB
IndusInd bank
2000
13%
13%
13%
13%
15%
15%
KKBK
Kotak Mahindra Bank
3000
12%
12%
14%
14%
15%
15%
RATN
RBL Bank
1000
13%
14%
15%
15%
15%
15%
SBIN
State Bank of India
2500
14%
14%
14%
14%
NA
NA
SCBL
Standard Chartered
2500
13%
13%
14%
14%
NA
NA
UTIB
Axis Bank
3000
13%
13%
14%
14%
15%
15%
YESB
Yes Bank
1500
13%
13%
14%
14%
15%
15%

Payment Flow

You can enter the necessary details on the Checkout and select EMI as the option.

emi-payment-methods

From the EMI options available, you can select EMI on Cards. If you don’t see this option, Skip to 3. Point

emi-on-cards (1)

On entering the credit card details, all the valid EMI plans are displayed.

 

You can select the required EMI plan and proceed to complete the payment.

When you complete the payment on the Checkout page, the entire transaction amount is authorized by your issuing bank and converted into EMIs within 3-4 days, depending on the payment terms agreed with the credit card provider.

Debit Card EMIs

At Shop at SYG, you can use Debit EMI as a payment method to buy various gadgets on EMI using your Debit Cards without paying the entire amount immediately. You do not need to have the whole amount in your accounts at the transaction time, and your banks will not block any amount on your cards.

Shop at SYG partnered with various banks to provide Debit Card EMIs at the Checkout so that you can avail of these EMI plans and repay them at their convenience.

As of now, you can avail EMIs on HDFC debit cards only.

Bank Code Issuer Bank 3 months 6 months 9 months 12 months 18 months
HDFC
HDFC Bank
16%
16%
16%
16%
16%

Payment Flow

You can enter the necessary details on the Checkout and select EMI as the option.

 

From the EMI options available, you can select EMI on Cards. If you don’t see this option, Skip to 3. Point

 

On entering the card details, all the valid EMI plans are displayed.

 

If the order amount is eligible for debit card EMI, the corresponding EMI plans along with the interest rates are displayed and you can proceed to complete the payment.

 

Now you can select the EMI tenure. You will be prompted to enter the phone number linked to your bank account. If you are eligible for availing the EMI, OTPs are sent by your bank to validate your identity.

After the successful authentication, you will be redirected to your application or website. Your monthly debit card statements will reflect the EMI amount with the interest charged by the bank.

FAQs - Debit Card EMIs

1. How do banks perform the EMI eligibility check during the transaction flow?

Eligibility is checked using the card number and registered phone number. Therefore, you should always use the phone number registered with the bank while making a payment.

2. What is the minimum balance required in my account to avail of Debit Card EMI?

None. You do not need to have any minimum balance in your accounts while placing the order. However, you need to ensure that your accounts have sufficient funds to pay the EMI due every month.

3. How will I know that they are eligible for Debit Card EMI?

You can check your eligibility by sending the SMS
DCEMI to <56767>, from your registered mobile number.

4. What are the criteria to avail of Debit Card EMI?

To avail of Debit Card EMI, you should pass the eligibility criteria set by your banks. The minimum order amount on the Checkout should be ₹5000 (for HDFC Debit Cards).

5. Can I change the EMI plan after placing the order?

No, EMI plans cannot be changed after an order is placed.

6. Do I need to pay any down-payment to avail of Debit Card EMI?

No, you don’t need to pay any down-payment amount to avail the Debit Card EMI option.

7. Is there a possibility to fore-close EMIs availed on Debit Cards?

Yes, Debit Card EMIs can be fore-closed after clearing the first three EMIs.

Cardless EMIs

At Shop at SYG, you can use Cardless EMI as a payment method to convert your payment amount to EMIs without the need for a debit or credit card. You can enjoy the benefits of the EMI as the payments are made using credits approved by the supported Cardless EMI Payment Partners.

Supported Payment Partners

Following is the list of supported Payment Partners for Cardless EMI and the minimum order amount stipulated by them:

Bank Minimum Order Amount
HDFC Bank
₹5000
Kotak Bank
₹5000
ICICI Bank
₹5000
IDFC Bank
₹5000
Federal Bank
₹5000
Home Credit
₹500

Non-Banking Payment Partners

Payment Partners Minimum Order Amount
EarlySalary
₹3000
ZestMoney
₹1000

Payment Flow

You can enter the necessary details on the Checkout and select EMI as the option.

 

You can select the preferred cardless EMI service provider. If you don’t see this option, Skip to 3. Point

 

If the amount entered in the Checkout is eligible for EMI, you will receive an OTP on your registered mobile numbers to authenticate your account with the selected cardless EMI service provider.

 

If the entered mobile number is invalid, an error message is displayed that you don’t have an account with the service provider.

Get in Touch with us if you receive an invalid message. Otherwise Skip to Step 5.

After the successful verification, you can now select an EMI plan of your choice and complete the transaction.

Based on the terms and conditions, you may pay the total payment amount with additional interest (if any) as EMIs to the provider.

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