Booking Date:[protected] T 11:13:43 AM
Booked ID: GOFLDMTBD[protected]
I have booked flight ticket and offer was given by IBIBO for EMI option.
Offer was: 2000 instant discount on HDFC EMI option with NoCostEMI for 6 months tenure.
As per IBIBO,
Frequently Asked Questions
1. What is No Cost EMI?
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 Rs.15, 000 item at a 6 month tenure, you will pay your EMI provider Rs.2, 500 every month for 6 months, amounting to a total of Rs.15, 000*.
2. Which payment methods can I use to get a No Cost EMI?
No cost EMI is available on credit cards from Standard Chartered, Yes Bank, HSBC, IndusInd Bank, RBL Bank HDFC Bank, SBI Card, ICICI, Axis Bank, Kotak, Citi (Valid on Goibibo’s Website, Mobile site, Android & iOS App only) and Bajaj Finserv EMI cards
3. Are there any fees or down payment?
There are no processing fees or down payment for these transactions. Your bank will charge GST on the interest component of the EMI.
4. Is No cost EMI available on all products on the site?
No cost EMI is available on Domestic & International Flight & Hotels bookings only.
Valid Bank Cards:
Standard Chartered, Yes Bank, HSBC, IndusInd Bank, RBL Bank HDFC Bank, SBI Card, ICICI, Axis Bank, Kotak, Citi, Bajaj Finserv
Min Booking Amount:
INR 3, 000
5. Can I use my Wallet balance / any other discount along with the No cost EMI offer?
No, you cannot. Please deselect any pre applied discount to make a payment using the No cost EMI offer.
6. Will my bank continue to charge me interest?
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*.
7. How will my EMI be charged?
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.
*Note: this excludes GST that will be charged by your bank on your interest component of the EMI
So as part of this, discount of Rs 1298 was given as NoCostEMI discount towards the bank interest (as per point 7 above).
But the bank charged around Rs.1457 + GST to me as interest on this EMI.
After checking with Bank, this complete loan info is given by IBIBO (merchant) to bank which later is updated in the customer account.
When i asked IBIBO customer care for the refund of the difference in interest charges, they are asking all the details and produce paper from the bank etc when IBIBO is the one which provides all details to bank.
Also when asked to IBIBO customer care person on how the NoCostEMI discount is calculated, they are not clarifying nor answering and keep on ignoring.
Ibibo Group / Goibibo customer support has been notified about the posted complaint.
Have raised complaint here as well as with them. Also had verbal complaint to customer care but no response