One can use a simple no-cost-EMI trick to save few thousands while purchasing costly iPhones.
Taking example of iPhone 15 512GB, price is 109900.
You'll get 5000 instant discount on HDFC credit cards. Also, if you select 6M EMI, you'll get another 4441 no-cost EMI discount.
Next step is very much important. Check your 'Linked EMI' in 'HDFC MyCards' after 2-3 days. There you can see the EMI. You need to cancel that EMI from there (or by calling customer care). You'll be charged 199+GST as processing fee which will be reversed (not GST) after cancellation. You might also be charged interest for 1-2 days (the more days you take to cancel, interest will be higher). So by this, above 109900 price will come down to approx 101000 (9000 less). Also remember to pay the 'Full amount' after 24 hours, else there'll be penalties.
If you cancel say, 19th Sep 9 am, you need to pay between 20th Sep 9:10am till midnight.
Note: There're 2 types of HDFC EMIs. Offus and Merchant (I don't know how those works). I only know, all Flipkart EMIs and few Amazon & Croma are offus, rest are merchant.
If it's offus, you can cancel anytime before your statement generation (maybe even after that), and you won't be charged anything except 35.82 as GST. But remember, offus EMIs must be cancelled only by calling customer care.
Edit: One more thing to remember. Offus emis should be canceled (not pre/foreclose).
www.macrumors.com
