EMI clarification

[Record4]

Hi all

I want to purchase Galaxy Watch4 Classic LTE

(46mm) through hdfc bank debit card with Emi option. But I am in a little bit confusion. See screenshot at arrow mark. What does 10,990 rs blocked means?

[RajaRaj26]

That means if your card is having 50000 rupees limit in that 10990 will be blocked for this EMI and balance 39000 can be use for other purchase

[Record4]

What is the purpose of Emis? Our amount is blocking 10,990 rs and also we have been charged from both sides samsung and our bank 😁😁😁😁.

[yasharthparas]

This debit card emi feature is same as that of credit card emi. The purpose of emis is to repay the total amount used to buy the product in small installments rather than paying in full.

[saurabh_patni]

It will be blocked within your credit limit.

[yasharthparas]

You can understand it as the amount of Rs. 10990 will be debited from your Debit card emi balance same as credit card. And after 2-3 days the emi statement will be generated and you will receive it via sms and WhatsApp.

[yasharthparas]

It is not exactly debited but the amount of 10990 will be reserved for the emi conversion which will be converted into 12 months of emi from the total balance of your debit card emi value.

[LokeshNod]

If you make the purchase now the entire purchase amount will be debited and after 3 to 4 days it will be added back to your card and converted into EMI.

[Record4]

So we can't purchase if our account balance is below 10,990 rs. While emi is process is running we can't use the 10,990 rs amount .