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Flipkart Big Billion Day Sale: What's behind lucrative payment options and offers?

While the offers seem good, they may not be as straightforward as they seem. Let's check out fineprint behind some of them.

Priya Kapoor   New Delhi     Last Updated: September 18, 2017  | 15:56 IST
Flipkart Big Billion Day Sale: What's behind lucrative payment options and offers?

Flipkart is back with its Big Billion Day Sale. Slated for Sept 20-24, the sale is expected to offer up to 90 % discount on smartphones, televisions and refrigerators as claimed. Also good deal is expected across other brands of fashion, accessories and furntiures. To make every customer's wish true, Flipkart has launched various finance options. While the offers seem good, they may not be as straightforward as they seem. Let's check out fineprint behind some of them.

No Cost EMI
: The 'No cost EMI' payment option by Flipkart is for those wishing to make payment for their purchases in a staggered manner. Though an interest-free loan, it is certainly not a "No cost". First of all, you need to get a pre-approved loan card for online shopping. Flipkart has partnered with Bajaj Finserv, a financial service provider in India for this. The card comes at a joining fee of Rs 349 along with an annual renewal fee of Rs 99. It further requires you to submit necessary documents like Id proof and photos etc. If you get the card, you can start shopping and opt for EMIs not lasting beyond 12 months. Moreover, it is only applicable for purchases made via Flipkart mobile app. Any purchases made via desktop or mobile websites do not qualify for this.

Discount on SBI cards: Flipkart is also providing additional discount to SBI debit and credit cardholders this sale season. But the discount applies only on a minimum cart value of Rs 5,999 and the maximum discount one can avail is Rs 1500. This offer is not applicable on Flipkart Gift Vouchers, Xiaomi Redmi 3s, Redmi 3s Prime, Lenovo K6 Power and all Samsung mobiles except Samsung Galaxy A3, Samsung Galaxy On Nxt, Samsung Galaxy On5, Samsung Galaxy On7, Samsung Galaxy J5 - 6 (2016 Edition) and Samsung Galaxy On8.

Buy-now pay later: Flipkart has made this option available for some of its customers who shop through its app. You would get to see this option under 'My accounts' section on the app. As per the policy, product will be delivered to you and the bill for the amount will be sent to you on the 1st of every month with a due date on the 10th of every month. In case you fail to pay the amount, you will be penalized. The penalty depends on the outstanding amount. For instance, you have to pay Rs 100 for outstanding up to Rs 2,000, Rs 200 for outstanding between Rs 2,001-4,001 and Rs 400 for outstanding beyond 4,001.

Buy-back guarantee: Another offer this sale season is buy-back guarantee on various phones. As per the offer, the retailer will buy back your device at a fixed price, and the amount will be cut from the price of your new phone. But the guarantee is for a limited period say either be 6-8 months, or 9-12 months and the price is set accordingly. Take for instance, Moto Z2 Play (Fine Gold, 64 GB)  (4 GB RAM), which is available for Rs 27,000 on Flipkart. In case you wish to go for a buy back guarantee, it offers you a buy back price of Rs 12,400 within 6-8 months and Rs 10,000 upon surrendering between 9-12 months. Moreover, it charges you Rs 249 extra for this service.

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