How to Buy on EMI on Amazon App | How to Place an EMI Order on Amazon App | Cost-Free EMI

hey guys and welcome back in this video we shall learn how to purchase or buy product or items from Amazon using Emi now this Emi stands for equated monthly installment and it is a fixed payment which is made by the user or the borrower to the lender or which in this case is Amazon on a specified date of each month which means if you are going to buy any product from Amazon then you will have to pay a fixed amount every month on the same day till your loan is over now there are many ways how to buy anything using Emi the first one is by using the merchant website or the merchant portal like in this case which is Amazon the second way is by making the purchase right away using your credit card and then contacting your credit card company or by using the app of your credit card company to convert the purchase that you have made into Emi so there are two ways we are going to talk about the first way which is by making the purchase from the merchant portal using Emi so I'm going to use the Amazon app for this purpose I have already installed the app and I have already logged in into the app so you can do the same if you have not installed the app then you can go to the Play Store or the App Store and download the app after a successful installation of the app you will have to register to the app and I have already selected the product that I am going to buy so as you can see I have two product in my Amazon apps card now I can buy both of these together and then select a Emi scheme I'll just show you what I mean so as you can see I have two products in my card I'll just tap on proceed to buy now under the payment tab if you have many credit card or debit card you can scroll down to this option which says pay with debit card credit ATM cards and then you can add your other cards now once your cards are added they will be displayed here and from here you can see I have two credit cards and One debit card so if I select the debit card then this card is temporarily unavailable for payment and it is not offering Emi also the other two credit cards are offering Emi options now let's see the Emi option for my SBI card so just tap here which says pay in full now coming under here you can see we don't have any option for interest free Emi which means the first option is pay in full second option says three month Emi at 16.5 percent interest and Emi will be 2356 and the interest that I will have to pay in three months is 190 so the price of the item is 6878 which you can see at the top and there 199 will be charged as the processing fee and then 190 will be charged as the interest so the total that I have to pay will be 768 which is not including the processing fee this is just the Emi and the interest in the same way if you select any other Emi plan like for 12 month now this this one says that I will have to pay 621 rupees per month for 12 months that is one year and the total interest that I will have to pay in one year will be 572 and the total cost of the item will become 7450 so this is for my SBI card let's see other credit cards so I have one Amazon pay ICICI Bank credit card also so I'll just select this one let's see the options that are available here so the first one is pay in full as usual and then the second one is no cost Emi which means the interest-free Emi now under this one you can see that the first option is for three months so I will have to pay 2293 for three months and the interest will be 15.99 so I will have to pay a interest of 179 now to counter this interest Amazon is going to offer me 179 as a discount upfront so that in effect I will not have to pay any interest and I will just have to pay the total Emi Cost Plus 199 which is the processing fee and plus GST in the same way if you can see we have this option for six months in the six months also it is for no cost Emi so the total Emi that I will have to pay for six months is 1146 and I will have to pay interest of 310 rupees so accordingly Amazon is going to pay me 310 as an upfront Emi discount so that the total cost becomes 6878 so as you can see it is very beneficial to order an item using no cost Emi because in the no cost Emi we don't have to pay any interest so basically we are just paying the price of the item without any interest fee and we'll just have to pay the processing fee plus the GST let me make one purchase I'll just select this one 1146 into six months and I'll choose this plan all right then I will have to enter the CVV number all right so I have entered the CVV number and also if you have any Amazon pay balance left then you can use that also and accordingly your Emi is going to change so as you can see I have 173 rupees in my Amazon pay balance so I'm going to use that and let's see what is the Emi now so I'll just select my credit card and then I'll select the options and here you can see now the Emi has changed to 1118 for six months so I'll just choose this one all right and I will enter the CVV number all right then scrolling down you can see if you have a gift card or any promo code with you then you can add that here so that it can be applied to your purchase otherwise just tap here on continue then on the second page you will have to select a billing address and for obvious reasons I have hidden the address details so I'm just going to select one address and then I will tap here which says use this address right then we are at the final step where we just have to check the details before we can place the order so let's see the details it says one time password required at time of delivery and then important information regarding our Emi you will be charged interest of 301.92 rupees by the bank and as a no cost Emi offer this interest of 301 rupees has already been reduced from the price of your order so as I have explained earlier also whatever interest we are supposed to pay will be offered as an upfront discount so overall we will not be paying any interest if we choose the no cost Emi options and then it says if you are paying by a credit card your card limit will be temporarily utilized for an amount of 6403 that's very obvious because if you make a payment for any X rupees then that amount is going to be utilized in your credit card and then scrolling down the total cost of the items is 6878 there's no delivery charge because I have Amazon Prime and then total amount is 6878 and then the discount that I am getting because of no cost Emi is 301 rupees and then I'm using my Amazon pay balance to reduce the cost further so the final cost comes around 6403 and then the interest that is going to be charged on this amount is 301 rupees which I have already we got as an upfront discount so the total cost comes 6704 and then the final Emi will be 1117.50 for six months and then if you keep scrolling down then you can see the details of your items as well as the quantity of them and estimated time of arrival that is ETA and also you can see the delivery address as well as the billing address so if you are fine with all the details then you can just tap on place your order and pay and then we will be redirected to the bank website where we will have to enter the OTP which you are going to receive on your registered mobile number and once the payment is done you will be redirected to the order summary and you can see the summary of the order that you have placed so by now you must have learned how to order any product or item from Amazon using Emi and how easy it is to order anything with Emi method if you have a credit or debit card with you and also it is advisable to use the no cost Emi as far as possible and if you make the complete payment from the merchant website using your credit card and then try to convert that payment into Emi by getting in touch with your bank or the credit card company then in that case you will not be offered the no cost Emi because that is offered by Amazon and Flipkart or from different merchants and the no cost Emi option is not offered by the bank or the credit card companies so you will have to keep that into your mind anyways that's all for this video I hope you like the video so don't forget to give a thumbs up and subscribe to the channel I'm going to see you in the next video thanks for watching