Categories: How To

Cardless EMI using Amazon (Amazon Pay EMI) – Instant Credit up to ₹60,000

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

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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

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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:
1. Auto-repayments with one-time setup during registration
2. 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