Auto repayment setup ensures automatic repayment of EMIs from your bank A/c. You have to provide your bank A/c details so that your EMIs can be automatically deducted when they are due. Kindly note that you don’t have to pay anything for activating your FreeCharge EMI A/c. Auto repayment will be set up for the complete amount of your approved credit limit.
However, the actual amount will be debited, as per your EMI schedule, ONLY when you use the amount for any transaction.
NO amount will be deducted if you do not use the approved credit amount.
For eg. The approved Limit for you is Rs 30,000. The Autorepayment will be set up for Rs 30,000. However, if you do not use
any amount for 2 months and after 2 months you take Rs 5,000 in your FreeCharge Wallet with an EMI schedule of 6 months
and EMI value Rs. 916, then your account will be deducted for the amount Rs. 916 once every month for the next 6 months.