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Available in🇮🇳 India

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Common

Yes, you receive the full amount at once and the provider/bank converts it into EMI for the customer.
The loss is borne by the provider/bank. You receive the full payment upfront.
Yes, they can avail offer on debit and credit card EMIs. Know more about creating EMI Offers.

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Debit Card EMI

Eligibility is checked using the card number and registered phone number. Therefore, customers should always use the phone number registered with the bank while making a payment.
None. Customers need not have any minimum balance in their accounts while placing the order. However, they need to ensure that their accounts have sufficient funds to pay the EMI due every month.
Customers can check their eligibility by sending the SMSDCEMI last 4 digits of Debit Card number to 56767, from their registered mobile number.
To avail Debit Card EMI, your customers should pass the eligibility criteria set by their banks. The minimum order amount on the Checkout should be ₹5000 (for HDFC and IndusInd debit cards).
The interest rates applied by each bank for Debit Card EMIs is provided below.
  • The minimum transaction amount for which EMIs can be availed on debit cards can vary for each bank.
  • The maximum transaction amount depends upon the available pre-approved limit for the customer.
No, EMI plans cannot be changed after an order is placed.
No, the customers need not pay any down-payment amount to avail the Debit Card EMI option.
Yes, Debit Card EMIs can be foreclosed after clearing the first three EMIs.
The Debit Card EMI payment method is not allowed for certain business categories. Check the relevant Category section below for the list of sub-categories and support status. Debit Card EMI is not allowed for categories with N as the status.
Watch Out!Due to our partner bank restrictions, the Debit Card EMI payment methods may not be available to all the Merchant Categories and Subcategories.

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Credit Card EMI

The interest rates charged by various banks for each of the tenures are provided for your reference. The minimum transaction amount for which EMIs are applicable can vary for each bank. The maximum amount is dependent on the card limit set by the issuing bank.
The interest rates charged by other cards for EMI is given below.

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Cardless EMI

The standard interest rates charged by various banks for cardless EMI are provided for your reference.
The standard interest rates charged by the providers for Pay Later providers are given below:* Interest rates are determined on a case-to-case basis. Contact support for more information.
Watch Out!All interest rates mentioned above are per annum.

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No Cost EMI

You, as a merchant, would bear the cost of No Cost EMI. It will be given as an upfront discount on the product cost to the end consumer. The discount percentage will vary by the bank and period of EMI.
No Cost EMI is available on all credit card and debit card EMI banks.
Yes, the customers’ banks will continue to charge them interest. However, this interest charge has been provided to the customer as an upfront discount at the time of purchase, effectively giving them the benefit of a No Cost EMI.
Yes. Razorpay enables you to display No Cost EMIs at the Checkout. Know more about No Cost EMIs.
Handy TipsThe banks charge GST to end consumers on the interest paid over and above the following amount.
Calculations on the cost incurred by the merchant at all standard plan and tenures are listed below:
The order amount minus the entire interest subvented by you as a discount is settled in your bank account as per your settlement cycle.
Watch Out!However, Razorpay pricing is not included in this settlement, it will be applied in addition to the above amount.
No, we do not support No Cost EMI offers on Cardless EMI.

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Low Cost EMI

Running Low Cost EMI Offers helps you attract a wider customer base by reducing the upfront cost barrier. This leads to increased sales and higher average order values.Additionally, offering discount on interest for longer tenures sets you apart in a competitive market and opens opportunities for upselling, contributing to overall business growth and financial stability.
As a business, you would bear the partial cost of Low Cost EMI, which appears as an upfront discount on the product cost to the end consumer.You can decide the cost to subvent for each tenure and the customer bears the remaining cost. The interest percentage will vary by the bank and the EMI tenure. Know more about the EMI Calculation.
Low Cost EMI is available on all credit and debit card EMIs.
Yes, the customers’ banks will continue to charge them interest. However, partial interest subvented by you appears as an upfront discount to the customers at the time of purchase.
Yes. Razorpay enables you to display Low Cost EMIs at the Checkout. Know more about Low Cost EMIs.
You can decide how much percentage of the total interest you want to subvent during offer creation. This appears as an upfront discount on the product cost and the customer bears the remaining cost.
The order amount minus the discount subvented by you is settled in your bank account as per your settlement cycle.
Watch Out!Razorpay pricing is not included in this settlement, it will be applied in addition to the above amount.
No, we do not support Low Cost EMI offers on Cardless EMI.