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No Cost EMI Policy

No Cost Emi Policy

Title:

NCEMI Option Policy

PURPOSE:

To clarify the terms and conditions related to the NCEMI (No Cost EMI) option provided to customers making purchases on our website.

SCOPE:

This policy applies to all customers who opt for the NCEMI payment option while purchasing products from our website.

Policy Statement:

  • NCEMI Discount:

    When a customer selects the NCEMI option at checkout, Atomberg provides a discount equivalent to the interest amount of the EMI plan. This discount covers the interest charges that would otherwise be levied by the bank or financial institution.

  • Interest Payments:

    Although Atomberg covers the interest charges, the customer remains responsible for paying the principal amount and the interest on the EMI to the bank or financial institution as per the EMI agreement. Atomberg is not liable for any financial transactions or agreements made between the customer and the bank or financial institution.

  • Cancellation/Return Policy:

    • In the event of a cancellation or return of a product purchased under the NCEMI option, only the principal amount paid by the customer will be refunded.
    • The customer will not receive a refund for the interest amount covered by Atomberg.
    • The customer remains responsible for any interest payments to the bank or financial institution as per the original EMI agreement.

Responsibilities:

  • Customers:

    Ensure they understand the terms of the NCEMI option and are aware of their responsibilities regarding interest payments to their bank or financial institution.

  • Atomberg:

    Provide accurate information about the NCEMI option and the terms associated with it.

Enforcement:

  • This policy will be enforced by the customer service and returns department.

  • Non-compliance by the customer in adhering to the payment terms will not affect the enforcement of this policy.

Review and Revision:

  • This policy will be reviewed annually or as needed.

  • Revisions to this policy will be made based on changes in applicable laws, business practices, or financial agreements.

Definitions:

  • NCEMI (No Cost EMI):

    Ensure they understand the terms of the NCEMI option and are aware of their responsibilities regarding interest payments to their bank or financial institution.

Effective Date:

  • This policy is effective from August 14,2024.