Question 1

What is ShopSe?

Accepted Answer

ShopSe facilitates purchases on Instant No Cost EMIs using your credit / debit cards. Completely digital, we ask for no documentation. Rest assured, you will find the best No-Cost EMI options available in the market only on ShopSe.

Question 2

How does Credit Card EMI work?

Accepted Answer

You can now avail EMI using your Credit Cards. While the entire purchase amount gets blocked on your card at the time of purchase, the bank converts the transaction in EMIs as per your selected plan in 5-7 working days. You will be billed for the EMI in your monthly credit card statements.

Question 3

What does No Cost EMI mean?

Accepted Answer

No Cost EMI means the Interest charged by the bank is given as an upfront discount to you. The total amount (including interest) that you will pay to the bank will be equal to the price of the product.

Question 4

How long does it take for the EMI conversion?

Accepted Answer

EMI conversion is subject to approval from your bank. It usually takes 5-7 days for EMI conversion. For any further delay, please contact you bank.

Question 5

Can my the EMI conversion of my transaction be declined?

Accepted Answer

Yes. In rare case, the EMI conversion for your transaction may be declined by your bank because of one of the following reasons. Please note these are only indicative.  1. The card does not support EMI transactions.  2. You are using a corporate card/business card. 3. The tenure selected is not applicable for the purchase.    Do reach out to you bank for further details.

Question 6

How will I pay my EMIs back?

Accepted Answer

Your EMIs will be part of your monthly credit card statement. You can continue paying for your credit card bills as you normally do.

Question 7

My transaction is successful. When is my first EMI due?

Accepted Answer

Your first EMI will reflect in your next statement after making the purchase.

Question 8

What if I forget or fail to pay my EMI on time?

Accepted Answer

If you do not pay your credit card bill on time, your card may get blocked. The bank will also apply additional charges for late fees. This will  impact your bureau score negatively, hence it is advised to make timely payments of your credit card dues.

Question 9

Are there any additional charges if I do not repay on time?

Accepted Answer

Yes. The bank will charge additional penalties in case the repayment is not made on time.

Question 10

How do I contact the ShopSe team?

Accepted Answer

You can call us at 022-49390009 or drop a mail on care@getshopse.com. We will get in touch with you within 24 hours.

Question 11

How do I contact my bank?

Accepted Answer

Please find the customer care contact number of you bank below -   1. Axis bank - 18604195555 2. HDFC bank - 18004254332 3. ICICI bank - 18601207777 4. Kotak Mahindra bank - 18602662666 5. RBL bank - 02271190900 6. Standard Chartered - 18003451000 7. State Bank of India - 18601801290

Question 12

Bank team has called me up for conversion. Is this normal? Has my EMI not converted yet? What shall I tell them?

Accepted Answer

It usually takes 5-7 working days to convert any transaction into EMI.  During this period, your transaction will be seen as full and convertible on your statement. Bank’s EMI conversion team calls up to take your consent for converting it to an EMI.  ShopSe wants to clarify that your EMI is tagged for conversion by default. Please do not provide your consent to convert to those calls as that EMI is not No Cost EMI. Bank will charge you their standard interest rates, not what ShopSe has offered you.

Question 13

My credit card statement has been generated and I have been charged the full EMI amount. What should I do?

Accepted Answer

This can happen if the bill got generated within 5-7 days of the transaction before it could be converted to EMI. In this case, once the EMI conversion happens, your bill amount will reduce. You will be required to pay only the EMI amount and not the total transaction amount
If your EMI has still not converted, please reach out to us at care@getshopse.com with a copy of your statement.

Question 14

My EMI is showing as full in my statement, why it has not been converted?"

Accepted Answer

The EMI is initially charged in full in any of the cards. Bank takes 5 to 7 working days to convert any transaction to EMI.

Question 15

I was told that I would not be charged interest but I can see interest being charged?

Accepted Answer

No, NoCost Interest is offered to you as a discount upfront, that is why your invoiced amount is lower than your transaction amount. Please validate it against the amount charged  against your card.

Question 16

Is the GST charged on the entire loan amount?

Accepted Answer

No, the GST is charged only on the processing fee if any, and the interest component of your EMI. Your EMI amount otherwise is inclusive of every other amount which is to be charged from you.

Question 17

Can I foreclose my EMI?

Accepted Answer

Yes, Foreclosure can be done.    Foreclosure can only be done through your bank only. You may approach the bank with your request and they shall be able to help you with foreclosure procedures.

Question 18

Are there any charges that I will have to bear for foreclosure?

Accepted Answer

ShopSe does not charge for cancellation or foreclosure. However bank charges may apply. You need to check with your respective bank for the same.

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