Hidden Charges in TV NO COST EMI

waris

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Hi,
Recently I purchased Sony x9000h from Amazon. It was priced at 1.44 lacs .
However 5% cashback was promised on Amazon ICICI credit card so I went ahead and got myself this CC .
Also there was no cost EMI as they were adjusting the interest amount as upfront discount.
I opted for 18 months EMI and final price was 1.28 lacs + interest. This was shown as 8000 EMI for 18 months.
I was also hoping to get 5% cashback of around 6k.
But when the bill came I got 2 shocks.
I was charged 8300/- as GST was included now. By the way this GST was not shown in calculations and was mentioned in a note deep under terms and conditions.
So my actual outgo will be 1.5 lacs, also I was informed by ICICI that 5% cashback is not applicable for EMI .
This also is hidden deep in terms and conditions.
I think Amazon and ICICI are following wrong tactics here by not displaying full information while making payment.
They show a sample calculation just before payment and only 8000 was shown there.
Also cashback is only for full payment should be clearly mentioned .
Therefore this is not a NO COST EMI.
What are my options now plz guide.Hoping to get some suggestions from our experienced FMs.
I am looking at a total loss of 12k around.
 

Donivlapog

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Icici is a big time fraudulent bank that squeezes like a Shylock everywhere possible. They put me charges for minimum balance not held even if I had monthly balance average of 1lakh plus and for a family man with solo income having 2 kids, a house wife and two veterans (72,78), maintaining 1 lakh plus itself is herculean and above that they charged incorrectly. Not only that three watertax payments have failed for 2724 rupees for three of my flats and It has still not been refunded after 2 months since transaction failed. My fastag through icici even after I exchanged my car for a 7 seater and cancelled it, has not been refunded. They have even charged me an insurance premium for anti fraud of Rs.1999 and Rs. 999 and say it is for my account protection which I don't need also. After multiple calls I have realised these grapes are sour and gave up fighting as it raised my BP as hard earned money is robbed. I bought their shares so as to think if one door closes another will open and I made a M2M of 43k instead and think I have had the last laugh.

Just bad banking a big curse upon innocent people citizens.
 

waris

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Messages
420
Points
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Location
Ahmedabad,Gujarat
Icici is a big time fraudulent bank that squeezes like a Shylock everywhere possible. They put me charges for minimum balance not held even if I had monthly balance average of 1lakh plus and for a family man with solo income having 2 kids, a house wife and two veterans (72,78), maintaining 1 lakh plus itself is herculean and above that they charged incorrectly. Not only that three watertax payments have failed for 2724 rupees for three of my flats and It has still not been refunded after 2 months since transaction failed. My fastag through icici even after I exchanged my car for a 7 seater and cancelled it, has not been refunded. They have even charged me an insurance premium for anti fraud of Rs.1999 and Rs. 999 and say it is for my account protection which I don't need also. After multiple calls I have realised these grapes are sour and gave up fighting as it raised my BP as hard earned money is robbed. I bought their shares so as to think if one door closes another will open and I made a M2M of 43k instead and think I have had the last laugh.

Just bad banking a big curse upon innocent people citizens.
Can I complaint any where? Do I have any right to complaint?
 

shaiju_o_thomas

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3858EA04-4CB2-4DCC-8ABA-950DE4970E29.jpeg You must have got ₹3,500 instant discount? Am not sure if 5% additional is applicable to you as Prime member using ICICI Amazon Pay card. That would be credited to Amazon Pay at end of the current billing cycle.

18 months does not have no cost EMI offering for the product that shows at the checkout page. Was it different for you?
 

waris

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View attachment 63139 You must have got ₹3,500 instant discount? Am not sure if 5% additional is applicable to you as Prime member using ICICI Amazon Pay card. That would be credited to Amazon Pay at end of the current billing cycle.

18 months does not have no cost EMI offering for the product that shows at the checkout page. Was it different for you?
I purchased it 2 months back at that time there were no discounts only 5 % cashback on Amazon ICICI CC. Bill is already generated and when I called ICICI CC they informed no cashback on EMI.
Yes No cost option was there for 18 months too.
 

Naveen_Reloaded

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Recently got a fridge , i think you will be first charged for the full and two cashbacks will come one separate dates. One is interest and another is cb.
I did purchase from store.. so dont know about amazon.

Also if you want to enquire , go to amazon saying you have doubt on emi purchase , they will give better breakdown than ICICI.

I have never had issues with ICICI..
 

waris

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Recently got a fridge , i think you will be first charged for the full and two cashbacks will come one separate dates. One is interest and another is cb.
I did purchase from store.. so dont know about amazon.

Also if you want to enquire , go to amazon saying you have doubt on emi purchase , they will give better breakdown than ICICI.

I have never had issues with ICICI..
Actually I first contacted Amazon and they passed the buck to ICICI.
 

zero7

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It's not just Amazon or ICICI. It's same with Flipkart and HDFC too. Recently bought a phone with Rs. 18,000 selling price.. Upfront full payment had Rs.800 discount and on EMI it had Rs. 1,200 discount. It is advertised as no cost EMI. Even after that they charge Rs. 199 processing fee, GST on that processing fees, then some taxes etc. Ended up paying Rs. 270 something more than upfront payment.
I don't think any bank will honor the request to wave of it now. Nothing comes free in this world. That's the learning for me. That's the first and last EMI purchase for me.
 

waris

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Actually if you visit shopatsc website they mention low cost EMI .
This transparency is missing from other sellers.
It's not right to show all charges upfront. It's mis-selling in my opinion. There must be some rules against this .
 

waris

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Actually if you visit shopatsc website they mention low cost EMI .
This transparency is missing from other sellers.
It's not right to show all charges upfront. It's mis-selling in my opinion. There must be some rules against this .
I meant its not right to hide charges.
 

zero7

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I believe the original price already includes GST, than why additional GST in installments?
GST is charged in the interest amount /service charges and not on the principal amount.
Typically Amazon or Flipkart reduce the interest amount from the product price while saying no cost EMI. But on papers, there is EMI, processing charges and service charges.
 
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