All billing of EMIs in the subsequent months shall be on the billing date of the Credit Card for that month.The first EMI shall be billed on the first billing date for the Credit Card that falls post the date of the transaction on the Credit Card that is being converted into EMI as per the Merchant EMI plan.This process may take up to 90 business days. Cash back (if applicable and communicated to customer at the time of the transaction) for an EMI transaction is offered solely by the merchant/brand and shall be credited to the cardholder only on receipt of the funds from the merchant/brand.However in this case no pre-closure charges shall be applied. Once the Merchant EMI is pre-closed, for any reason, all outstanding including but not limited to the principal outstanding and the interest for the actual number of days till closure i.e., from the last billing date till the date of closure, shall be debited to the Credit Card account.
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Partial or full refunds initiated by the merchant towards the original transaction subsequent to the Merchant EMI booking leads to pre-closure of the Merchant EMI facility.Interest rates as communicated at the time of availing the product(s) shall be applicable.The EMI shall be computed on a monthly reducing balance.Jammu & Kashmir Bank shall be entitled to demand immediate repayment of such consolidated outstanding amounts.In the event the Credit Card is closed prior to all installments being charged, the amount outstanding against Merchant EMI plan shall be debited as a consolidated amount to the Credit Card account of the Cardholder.A Cardholder may opt to convert a purchase at select Merchant outlets/website into Equated Monthly Installments (EMIs.) The Purchase(s) would be converted into Equated Monthly Installments (EMI) with interest charged on the monthly reducing balance.Terms and Conditions for Merchant EMI on credit cards
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PRE-PAYMENT CHARGES: 3% of the remaining amount.ĭEFAULT: In case of default of three consecutive EMI’s by a customer will result in reversal of entire outstanding principle plus interest for the period of default the Interest rate applicable on credit card purchases. Premium Global Concierge Services under which the cardholder can get Mastercard Global Emergency Services for any card-related needs, including emergency cash advances within 2 hours and card replacements within 24 hours in the U.S. MasterCard world card Golf Program across select Golf Courses in India, including both Golf games and Golf lessons.
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Welcome Aboard offers of Rs 10,000 across premium brands.Ģ Free Airport Lounge Access per year at select Domestic & International Airport Terminals in India.Īccess to Airport lounges at foreign locations. 25 lacsĬash Limit: 20% of credit limit subject to a maximum of 5 lacs. and 48 hours worldwide.Ĭredit Limit: Above Rs 8 lacs upto Rs. Global Concierge Services under which the cardholder can get MasterCard Global Emergency Services for any card-related needs, including emergency cash advances within 2 hours and card replacements within 24 hours in the U.S. Welcome Aboard offers of Rs 4,000 across premium brands. Cash Limit: 20% of credit limit subject to a maximum of 15000.Ĭredit Limit: Above Rs 75000 upto Rs 8 lacsĬash Limit: 20% of credit limit subject to a maximum of 1.6 lacs.
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