EMI Process

Introduction of 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.

Required Document’s To Apply Bank Credit or EMI Loan from finance (Without Credit Card)

Above Mentioned Required Documents are Required for Apply Credit Card or EMI Loan from Finance (Without Credit Card)

2. 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.

3. Our approved bank for EMI Services (With Credit Card):

Our approved bank for EMI services with credit card are Citizens Bank, Global IME Bank, Sunrise Bank, Siddhartha Bank, Nabil Bank, Century Bank, Mega Bank, Machhapuchchhre Bank, NIC Asia Bank, NMB Bank, Sanima Bank, Kumari Bank, Prime Bank, Nepal Investment Bank And Himalayan Bank Limited.

4. Our approved bank for Without Credit Card EMI Loan Services.

A) Hulas Fin Serve

It has Provided EMI facility without credit card on Samsung Mobile Phones, Tablets and MacBook. You can get this EMI facility on every Samsung Mobiles, specified Tablets Models and MacBook from minimum range Rs.20000 to maximum. The EMI duration is maximum 12 months for all models normally except Flagship Phone like Z Fold 6 and Z Flip 6 have duration of maximum 24 months. The 40% of selling price down-payment is mandatory in all models except Z Flip 6 and Z Fold 6 has 30% of selling Price. As our store located at Kathmandu district, customers who are living inside the valley get the benefits of installments easily and specially having the citizenship issued from the districts of valley such as Kathmandu, Lalitpur, Bhaktapur and the districts like Kavrepalanchowk, Sindupalchowk, Nuwakot , Dhading having municipality touched with borders of Kathmandu, Lalitpur and Bhaktapur districts also get this facility only in the basis of citizenship.

Terms and conditions for EMI through Hulas Fin serve

1. There must be two people one guarantor and another buyer.
2. Each person should have 2 pp size photos and original citizenship.
3. If one of you have citizenship issued from district which are located inside valley , then there is no need of extra any documents except terms no. 2.
4. In case , you both do not meet terms no. 3 , you should fulfill following requirements :
   • a) Government Job – Holder:- You simply need your job id card and can apply for EMI . ( Retired and pension holder also facilitate)
   • b) Private Job – Holder :- You need salary’s certificate from your working place and bank statements of minimum three months where your monthly salary deposited.
   • c) Running business :-You need business registration certificate and tax clearance certificate of last fiscal year and if you have partnership firm you need to show your share portion ( Share Lagat ).
   • d) Migration: – If you have moved to Kathmandu, Lalitpur and Bhaktapur, you need Migration Certificate and can apply for EMI. And if you are living in Kathmandu have own house but don’t have migration certificate you need the Water bills and Electricity Bills.

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

Short Description of process of EMI thorough Hulas Finserve

The customers have to visit our store ( AtoZ Online Bazar Pvt. Ltd., Putalisadak, Kathmandu) with complete documents mentioned in above terms. After getting all documents, we get prepared with documents to apply your EMI application to Hulas FinServ via portal for approval. You have to pay the down-payment amount before applying application. It may take few times to 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 refund.)

B) Samriddhi Finance Co. Ltd

It has offices in Hetauda, Putalisadak, Pokhara, Chitwan and Butwal. It offers EMI loan 50 thousand to 5 lakh in 0% interest rate and EMI duration is 6 months to 24 months for SFCL trusted old (existing account holder) Customer Only. For more information – visit website https://sfcl.com.np. or Call for Complete documentation. (Note: – The EMI facility from Samriddhi Finance Co. Ltd. has currently unavailable due to some issues.)

5. What will be the Monthly installment and how to calculate it :

Monthly EMI is calculated as per the approved finance amount –

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

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

 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

6. 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 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 NIC Asia Bank, Citizens Bank, and Sunrise Bank, Sanima Bank, Himalayan Bank, Global IME bank And Slandered 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* .

Terms & Conditions

1. All Product like Mobile, Laptop, TV, Refrigerator, Washing Machine, Solar & Invertor, Furniture and Jewelry are Available with BSP or Discounted amount with 1000 or 2.5% to 22.50% Service charge basis without any interest and Down payment as per customer choice. (0% Interest @ Bank)

2. No Cost EMI – > No cost EMI Facility Available from NIC Asia Bank for 3 Month & 6 Month tenure. No Cost EMI Facility available for limited time Period ( till – 30-06-2080 )

2. 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.

3. 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.

4. 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. 

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

6. 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 at bank & finance for EMI Approval ,If bank or finance approve and issue Product Delivery Order than only we do provide product’s .Above requirements is Basis information for apply credit card and EMI Loan apply, as per the their branch office documents requirements can be different.

EMI Nepal is EMI information site of A to Z Online Bazar. So, 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. Key aspects include:

1. Required Documents: Varies by employment type—salaried, business owners, and retirees need different documents.
2. Credit Card vs. EMI Loan: Credit cards offer EMI options directly, while EMI loans require separate approval.
3. Approved Banks: Several Commercials banks and Samriddhi Finance are approved for EMI services.
4. EMI Calculation: EMI is calculated by dividing the loan amount by the number of months.
5. Application Process: Obtain and submit forms via websites or directly to banks for approval.
6. 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