How does No Cost EMI work?

At Furlenco, we offer a payment option called No Cost EMI, which allows you to make purchases of select products using your credit or debit card from eligible banks.

To avail of this option, simply select the No Cost EMI payment method at checkout, and make sure that the product you are purchasing is eligible for this payment option. Please note that No Cost EMI is not available for purchases made using other payment methods such as net banking.

We understand that different banks may have different tenures for their No Cost EMI payment options, so we always work to ensure that we are offering the most up-to-date information on which banks and tenures are eligible for this payment option.

One of the best things about No Cost EMI is that you get a discount upfront equivalent to the interest that would be charged by the bank for the purchase, so that the total of all the EMI amounts equals the total invoice amount of the purchased products at the time of making the purchase.

Lastly, please note that for Bank Credit Card payments, you can use the No Cost EMI payment option for eligible subscriptions plans selected in a single checkout, provided the total sale price of such selected subscriptions (net of applicable discounts) in the cart is more than or equal to Rs. 5000.

Please find an illustration of how the No-Cost EMI program would work :

Example :

Cart Value : INR 20000

NCEMI Tenure : 6 Months

Rate of Interest : 15% p.a.
Upfront Discount : INR 875 (Equal to the interest charged)

Payment by Customer : INR 19125
Invoice Value : INR 19125 (Netted of upfront discount)

You can expect to see the following on your bank statement: 

Here's a summary of our No Cost EMI policy:

• No Cost EMI is a payment option available only for select banks' credit and debit cards.
• Furlenco provides a discount upfront that is equal to the interest charged by the bank for the purchase.
• The net value of the product will be shown in the invoice, but the EMI will continue as per the plan selected by you.
• The bank may charge processing fees, cancellation charges, or additional interest if you fail to pay your EMI on time.
• Payment wallets and No Cost EMI cannot be used together.
• No Cost EMI is valid only in India, and the cardholder must be above 18 years of age.
• Furlenco reserves the right to modify or withdraw the No Cost EMI payment method at any time.
• Any disputes will be resolved as per Furlenco's decision.
• Customers who purchase the Flexi-cancellation pass can cancel their subscription and receive a refund of the outstanding principal amount at the time of termination. However, any NC-EMI charges that occur after the subscription ends will not be covered by the company.

Amount to be refunded = Principal outstanding as on termination date (or) Amount eligible for refund  assuming no NC-EMI (minus) interest charged after termination date

We advise the subscriber to terminate the loan with the refund amount with the banker to avoid any future interest/ other charges