EMI Process

Introduction to EMI:

An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMI Process is applicable with credit card or without credit card (EMI Loan).EMI Process requirements for bank and finance is same. Read Complete EMI Process before apply at Bank.

EMI Can be done using two methods

• Citizenship Basis
• Credit card

On the basis of Citizenship

You can get this EMI facility on different brands of Mobile Phones, Tablets, Laptops, TV, Refrigerators, Washing Machines and AC.

• Requirement for Samsung Brand Mobile Phones, Tablets, Refrigerator, Washing Machine, TV and AC and Dell & Asus Brand Laptop, Apple Brand MacBook & Mac Mini.
• There must be two people one guarantor and another buyer with original Citizenship and 2 pp size photos per each person.
• The 40% down-payment is mandatory for every product under Hulas Finserve Pvt. Ltd.
• The EMI tenure is 9-12 Months.
• The Age limit is 18-60 Years old. For product having price more than 100,000/- , Age limit is 25-60 yrs.

• Requirement for Redmi Brand Mobile phones
• There must be two people one guarantor and another buyer with original Citizenship and 2 pp size photos per each person.
• The 40% down-payment is mandatory for every product under MAW Hire Purchase Pvt. Ltd. and Batas Hire purchase Pvt. Ltd.
• The EMI tenure is 9-12 Months.

• Requirement for OnePlus, Infinix, Oppo and Vivo Mobile Phones
• There must be two people one guarantor and another buyer with original Citizenship. The Applicant must bring NID also.
• The 40% down-payment is mandatory for every product under Goodwill Finance Limited.
• The EMI tenure is 12 Months.

• Requirement for Honor, Motorola and Nothing Mobile Phones, Home Appliances (TCL, Godrej, LG).
• There must be two people one guarantor and another buyer with original Citizenship and 2 pp size photos per each person. The Applicant must bring NID also.
• The 40% down-payment is mandatory for every product under Jagdamba Hire Purchase Limited.
• The EMI tenure is 12 Months.

(Note: If your Citizenship is vague or not clearly readable, please bring PAN card, Voter card or National Identity card as supportive documents.)

The customers have to visit our store (ATOZ Online Bazar Pvt. Ltd., Kathmandu) with complete documents as mentioned in above terms. After getting all documents, we will prepared the documents to apply your EMI application to Finance’s Portal for approval. You have to pay the down-payment amount before applying application. It may take few times for approval. After approval of application, you should fulfill some procedure and can make purchase. (In any case, if your application gets rejected, your down-payment amount will refunded.)

What is Credit Card?

A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder’s promise to the card issuer to pay them for the amounts plus the other agreed charges. As long as you pay back the money you borrow within the “grace period” of 30-45 days, you don’t have to pay extra. If you don’t pay it back in that time period, you’ll have to pay interest or Charges – a percentage of the money you owe the bank on top of what you borrowed. You can use a credit card in stores, online, or by phone.

Our approved bank for EMI Services (With Credit Card)

Our approved bank for EMI services with credit card are:

Himalayan Bank Limited

Global IME Bank

Citizens Bank

Laxmi Sunrise Bank

Siddhartha Bank

Nabil Bank

Century Bank

Machhapuchchhre Bank

NIC Asia Bank

NMB Bank

Sanima Bank

Kumari Bank

Prime Commercial Bank

Nepal Investment Mega Bank

EMI Application Process:

You can find the Quotation & bank loan application form in our website www.atozonlinebazar.com (you have to select particular product you want to buy to download Quotation Loan Application Form below of Product description) or you can request through email as well. We request you to submit it to the bank or finance for Installment process. Once you receive the Delivery Order please call us for Product order and also send us the Scan Copy of Delivery Order Letter at sales@atozonlinebazar.com and cc to a2zonlinebazar@gmail.com Product will be provided to you within 3-5 days after submitting the Delivery Order.

If you have credit card of Global IME Bank, NIC Asia Bank, Citizens Bank, and Sunrise Bank, Sanima Bank, Himalayan Bank, and Standard Chartered Bank you can directly swipe your card and start process for EMI with just VAT bill, Insta Pay Loan Form and POS slip submitting at bank or by applying online.

What will be the Monthly installment and how to calculate it

Monthly EMI is calculated as per the approved finance amount. Such as:

   Monthly EMI = Total approved amount / duration (in Month)

    For example, if approved amount is Rs 30,000/-

    For 6 Month -> Rs 30,000 / 6 Month = Rs 5000/- per Month

    For 12 Month -> Rs 30,000 / 12 Month = Rs 2500/- per Month

    For 18 Month -> Rs 30,000 / 18 Month = Rs 1666.66/- per Month

Terms & Conditions

• All Product like Mobile, Laptop, TV, Refrigerator, Washing Machine, Solar & Invertor, Furniture and Jewelry are Available with BSP or Discounted amount with 1000 or 4% to 14% Service charge basis without any interest and Down payment as per customer choice. (0% Interest @ Bank)

• No Cost EMI – > No-Cost EMI (Equated Monthly Installment) is a payment plan letting you buy expensive items in easy, equal monthly payments without paying extra interest, effectively letting you pay only the product’s price over time.From NIC Asia Bank for Up-To 6 Month And From Global IME Bank Up-To 12 Month. Upto 31st Ashad 2082.

• Down-Payment amount or Service Charge amount need to pay at our store at the time of Product collection. The down-payment amount will be deducted from the MRP price of the Product but the service charge amount won’t be deducted from the total amount.

• Quotation Mentioned BSP/discounted price is the present price, if the price is changed in the time of product collection then we will go through the changed price.

• If any stock goes out, Customers will get alternative product not less than finance amount or they have right to cancel the order from bank. We will not guarantee products availability.

• Customer should be agreed with our terms and condition before submitting the quotation at the bank.

• Applicant must be Credit Card Holder of our Partner Bank. Debit Card is not acceptable.

      * Please read all the Terms & Condition before applying to Bank & Finance

Complete decision is of bank & finance for EMI Approval, if bank or finance approves and issues Product Delivery Order then only we can provide the product .Above requirements are basis information to apply for credit card and EMI Loan apply. AS per the branch office, required documents can be different.

Authorize EMI partner for all banks is  A to Z Online Bazar Pvt. Ltd.

Conclusion

The EMI (Equated Monthly Installment) process allows for fixed monthly payments either with a credit card or through an EMI loan.

• Credit Card vs. EMI Loan: Credit cards offer EMI options directly, while EMI loans require separate approval.
• Approved Banks: Several Commercials banks and Finance Company are approved for EMI services.
• EMI Calculation: EMI is calculated by dividing the loan amount by the number of months.
• Application Process: Obtain and submit forms via websites or directly to banks for approval.
• Terms and Conditions: Be aware of interest rates, down payments, and service charges.

For more details, visit the official website or contact the Authorized EMI partner.

Authorized seller – ATOZ Online Bazar-9801022104