Amazon has launched cardless EMI with Amazon Pay, inline with Flipkart card-less EMI. It is a completely digital process. You can make the purchase on EMI using this facility. You have to complete the one-time registration process. After that, Amazon Pay EMI payment option will be available to you at the time of check out for the purchase on EMI for 3 to 12 months tenures.
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How to register for Amazon Pay EMI
- Go to Amazon Pay EMI registration page on mobile app (available to select users only at present)
- Verify your identity using PAN and Aadhaar with OTP.
- Read and accept the terms and conditions.
- Link your bank account/debit card for monthly EMI deductions
Amazon Pay EMI- Registration Steps
Benefits of Amazon Pay EMI (cardless EMI)
- Instant credit decisions
- Fully digital process
- No credit card required
- Zero processing and cancellation fee
- Zero pre-closure charges
Eligibility for Amazon Pay EMI
- Have an Amazon account with a verified mobile number
- PAN and Aadhaar card
- 18 years of age
- Further eligibility will be decided by Amazon based on your information available with it and credit bureau.
- The credit limit will be assigned after verification
Amazon Pay Terms
- Only for mobile apps
- You can purchase only single
- item in checkout for this payment option
- Minimum purchase of ₹8,000
- You cant use Amazon Pay balance for partial payment
- Jewelry, Gift cards and Product from Global Store not allowed
How to make repayments using Amazon Pay EMI
- Your multiple orders will be combined for monthly EMI payments
- First EMI of the purchase will be due on 5th of the next month
- Repayments can be of two types:
- Auto-repayments with one-time setup during registration
- Manual repayments from Amazon Pay EMI dashboard
- If your bank account does not have sufficient balance on due date auto-deduction will fail. You will receive notification regarding this. Amazon Pay EMI account will be blocked after a few days of due date. It will unblock after payment is made. You will be charged the late fee for the same. The value of late fee will depend on order value and delayed number of days.
What are the penalty charges for late payment?
Following charges apply for late payments of EMI:
| Overdue Amount | Late days 1 to 15 | Late days 16 to 30 | Late days 31+ |
| Up to Rs. 3000 | INR 50 | INR 150 | INR 150 |
| Rs. 3001 – Rs. 6000 | INR 75 | INR 150 | INR 300 |
| Rs. 6001 -Rs. 9000 | INR 100 | INR 250 | INR 450 |
| Rs. 9001 and above | INR 150 | INR 300 | INR 600 |
Last updated 19 September 2018