EMI T&Cs

 

Insta EMI Terms and Conditions: -

  1. DBS Credit Card Holder whose accounts are valid and in good standing and who are holding below variant of Credit Cards issued in India , can voluntarily opt for Insta EMI offer on their Credit Cards:
    • DBS SPARK Credit Card
  2. In all matters relating to the eligibility of the DBS Credit Card Holder for availing the Insta EMI offer, the decision of DBS Bank shall be final and binding in all respects.
  3. Insta EMI offer will be fulfilled at the retail store’s end only and DBS Credit Card Holder would need to contact the retail stores to check the eligible products and offers.
  4. These terms and conditions shall not in any way waive or amend any of the terms and conditions of the existing Card member agreement.
  5. Insta EMI offer is available only for transaction done on DBS Credit Cards for purchase of product at the  retail store and which is converted to EMI during offer period . Insta EMI offer is not applicable for any transaction which is converted to EMI by DBS Credit Card Holder after completion of the transaction.
  6. Insta EMI offer can be  availed for tenure of 3/ 6/ 9/12/ 18/ 24 months or tenure as mentioned in the specific offers as provided by DBS Bank from time to time.
  7. DBS Credit Card Holder, at any point in time, can avail Insta EMI offer maximum for six transactions, subject to availability of credit limit.
  8. DBS Bank reserves its absolute right and discretion to approve or decline any request for Insta EMI . It is further clarified that transactions under certain merchant categories or any other transactions prohibited under law cannot be converted into EMI. (Restricted categories – Precious Stones, Jewellery, Watches, Silverware store, Jewellery and watch repair shops, Quasi Cash Merchant, Gambling, Dating and Escort services)
  9. DBS Credit Card Holder will not earn rewards points on transactions for which the DBS Credit Card Holder opts for Insta EMI.
  10. The processing fee of INR 299/- + GST/taxes as applicable on Insta EMI will be borne by the DBS Credit Card Holder.
  11. In the event the transaction so converted into  Insta EMI is cancelled by the DBS Credit Card Holder, or is fully or partially refunded, or in any other event where the DBS Credit Card Holder wants to cancel the Insta EMI, the DBS Credit Card Holder will have to call the DBS Bank Customer Care Number mentioned on the back of the DBS Credit Card to cancel the same. A foreclosure fee of 3% of the outstanding amount being foreclosed will be charged to the DBS Credit Card Holder Member. GST, at applicable rate, will be payable on this fee. DBS Bank reserves the right to modify this fee from time to time and will be communicated to the DBS Credit Card Holder Member at the time of receipt of the foreclosure request.
  12. If the DBS Credit Card Holder defaults on payment of any of the EMIs, DBS Bank reserves the right to recall the Instant EMI outstanding and debit the entire outstanding amount. The outstanding amount will be debited to the card account as one consolidated amount as part of the retail balance and interest will be charged as per regular rate applicable, as communicated to the DBS Credit Card Holder from time to time.No request for changes in the billing cycle shall be entertained during the facility The loan period is defined as the loan tenure selected by the Cardmember at the time of request.
  13. DBS Bank will charge full interest along with GST/taxes as applicable (on interest amount and processing fees) to the DBS Bank Credit Card Holder. However, Brand/Merchant will give an instant discount equivalent to the interest chargeable/payable at the time of purchase.  Please refer below illustration to understand Insta EMI (For 6 months tenure):-

     

    Your collective shopping amount_₹ 50,000

     

    Tenure

    6 Months

    Instant discount offered by Brand / Merchant

    ₹ 2,210

    Discounted Amount

    ₹ 47,790

    Interest rate chargeable by DBS (15% P.A.)

    ₹ 2,210

    Actual Price

    ₹ 50,000

    Total amount payable by Cardmember
    (Including Interest charged by DBS)

    ₹ 50,000

    EMI Instalment @ 15% P.A.

    ₹ 8702/Month

    Processing Fee

    ₹ 299

    14.  

  14. The DBS Credit Card Holder shall repay the transaction amount and interest thereon in Insta EMIs.   The interest rate will be charged on a monthly reducing basis, for availing the InstaEMI. The interest rate applicable will be communicated to DBS Credit Card Holder at the point of sale and will also be mentioned on the charge-slip.
  15. In the event of any inconsistency between the Insta EMI Terms and Conditions, Credit Card Terms and Conditions, Offer Terms and Conditions, the later shall prevail to the extent to such inconsistency.
  16. These terms and conditions are in addition and not in derogation of Credit Card terms and conditions.