No Cost EMI is an offer by which you pay your EMI provider only the product price, equally divided over your repayment timeline. For example, if you buy a INR 9,000 product at a 3 month tenure, you will pay your EMI provider INR 3,000 every month for 3 months, amounting to a total of INR 9,000*
Loom&Needles will not charge any processing fees or down payment for these transactions. Your bank may levy GST or other taxes on the interest component of the EMI. Loom&Needles bears the cost of the EMI to facilitate your seamless purchase
Yes, your bank will charge you interest. However, this interest charge has been provided to you as an upfront discount at the time of your purchase, effectively giving you the benefit of a No Cost EMI*
Your EMI provider will take 3-5 working days to process your EMI. Once done, your EMI will be charged on a monthly basis, as per your credit card billing cycle or payment instructions with your EMI provider. Please check with your provider for specific details.