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About EMI

Equal Monthly Installments

EMI is one of the most favourite payment methods available on stockaxis.com. It allows you to subscribe the services in simple monthly instalments.

EMI as a payment method is only available for customers using credit cards issued by:

CCAvenue Payment Gateway

  3-months 6-months 9-months 12-months 18-months 24-months
ICICI Bank 13.00% 13.00% 13.00% 13.00%    
Axis Bank 12.00% 12.00% 13.00% 13.00%    
HSBC Bank 12.50% 12.50% 13.50% 13.50% 13.50%  
Standard Chartered Bank 13.00% 13.00% 14.00% 14.00% 15.00% 15.00%
Indusind Bank 14.00% 14.00% 14.00% 14.00%    
Kotak Mahindra Bank 12.00% 12.00% 14.00% 14.00% 15.00% 15.00%
Central Bank of India 13.00% 13.00% 14.00% 14.00%    
Corporation Bank   16.00%   18.00%   18.00%
RBL Bank 13.00% 13.00% 13.00% 13.00% 13.00% 13.00%
Yes Bank 12.00% 12.00% 13.00% 13.00% 14.00% 15.00%

Payu Biz Payment Gateway

  3-months 6-months 9-months 12-months 18-months 24-months
HDFC Bank 13.00% 13.00% 14.00% 14.00% 15.00% 15.00%
Axis Bank 12.00% 12.00% 13.00% 13.00%    
Kotak Bank 12.00% 12.00% 14.00% 14.00%    
ICICI Bank 13.00% 13.00% 13.00% 13.00%    
HSBC Bank 12.50% 12.50% 13.50% 13.50% 13.50%  
RBL Bank 13.00% 13.00% 13.00% 13.00% 13.00% 13.00%
STANC Bank 13.00% 13.00% 14.00% 14.00% 15.00% 15.00%
YES Bank 12.00% 12.00% 13.00% 13.00% 14.00% 15.00%

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.

Note:
EMI purchases need to be made on a single credit card and cannot be split across multiple cards.

EMI monthly schedules begin from the next card billing statement post the transaction date as determined by your bank.

Credit Limit:
Your bank will block the credit limit on your card to the extent of your billing amount and release it in a phased manner as and when you pay back your EMIs.

Example: If you have made a 3-month EMI purchase of Rs 25,000 and your credit limit is Rs 1,00,000 then your bank will block your credit limit by Rs 25,000 and thus your effective, available credit limit after the purchase will only be Rs. 75,000. As and when you pay your EMI every month, your credit limit will be released by that equivalent amount.

Sample EMI calculation

EMI Duration Subscribed Amount
(at StockAxis)
EMI
(payable monthly to bank)
Interest rate
(charged by bank)
Total Cost
(payable to bank)
Total Interest
(payable to bank)
3-months Rs. 25,000 Rs. 8,514.54 13% Rs. 25,543.61 Rs. 543.61
6-months Rs. 25,000 Rs. 4,326.07 13% Rs. 25,956.43 Rs. 956.43
9-months Rs. 25,000 Rs. 2,930.40 13% Rs. 26,373.60 Rs. 1,373.62
12-months Rs. 25,000 Rs. 2,232.93 13% Rs. 26,795.16 Rs. 1,795.18

About Zero Cost EMI Offer:

Zero Cost EMI provides you with the facility to subscribe our services by paying in instalments, at zero interest rate using the EMI facility through the credit cards issued by the banks mentioned above. In Zero Cost EMI, StockAxis will issue the discount coupon of the amount of interest charges on the subscription amount.

To avail the coupon you need to contact your Relationship Manager or email us at research@stockaxis.com

Zero Cost EMI offer cannot be clubbed with any other offer or discount.

To use Zero Cost EMI payment:

The following transactions can appear on the credit card bill depending on your billing cycle:

Select the services you wish to avail https://stockaxis.com/pricing.aspx and apply discount coupon then check out for billing information
Select the payment gateway either ‘CCA Payment Gateway or ‘Payu Biz’ and proceed for selecting the payment method
Select the payment method ‘EMI Options’ then choose the bank and plan (3, 6, 9, 12, 18 or 24-month) of your choice and enter your credit card details and submit.

Terms & Conditions of EMI

The following terms & conditions apply to any transactions made using EMI as a payment option on StockAxis.com.

Your bank has the discretion to either approve or reject an EMI offer on the basis of your eligibility for a loan or subject to your credit card eligibility.

The EMI facility is being offered by the respective banks to the client and StockAxis has no role to play in the approval, extension, pricing, modification, pre-closure, closure or any matter incidental thereto pertaining to offering of the EMI facility, which is decided at the sole discretion of the bank.

The EMI facility being offered by the banks to the clients is governed by the respective terms and conditions of each bank/issuer and the clients is advised to approach the bank/issuer in case of any complaint, dispute or enquiry about an EMI transaction.

StockAxis does not charge the client any processing or convenience fee for the purpose of facilitating the EMI facility for its clients.

StockAxis reserves the right to stop Zero Cost EMI facility at any time without prior notice and without any liability.

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.

 
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