Yes, Debit Card EMIs can be foreclosed after clearing first three EMIs.
No, the customers need not pay any down payment amount to avail the EMI.
EMI plans cannot be changed once an order is placed.
The interest rates applied by each bank for debit card EMIs are provided for your reference. 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. Right now, customers can avail EMIs on HDFC
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 Debit cards)
Eligible customers can view the option on the Checkout under EMI option. However, as the eligibility criteria can vary for each bank or can be changed by the banks periodically, it is recommended that the customers reach out to their respective banks to check if they are eligible or not.
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.