Easy Monthly Instalments (EMI) Terms and Conditions:

Following are the Terms & Conditions applicable on EMI plan and are to be read along with the Credit Card terms and conditions:
1. Minimum purchase amount for each transaction should be PKR 10,000/- to book an Easy Monthly Installment (EMI).
2. Easy Monthly Installment (EMI) orders can only contain 1 item.
3. The conversion of purchase to Easy Monthly Installments (EMI) may take up to 7 working days.
4. You can only checkout if your available credit limit is equal to or greater than the price of the product.
5. EMI MARKUP RATES PLANS
Following are the EMI markup plans offered by banks:
a. Standard Chartered Bank (Pakistan) Ltd. 3, 6 and 12 month EMI tenures are markup free.
b. MCB 3, 6 and 12 month EMI tenures are markup free.
c. Silkbank 3 month EMI tenure is markup free whereas 12% and 24% markup will be charged for 6 month and 12 month EMI tenures respectively.
d. Bank Alfalah 3 month EMI tenure is markup free whereas 11%, 22% and 33%markup will be charged for 6 month, 12 month and 18 month EMI tenures respectively.
6. EMI Processing fee
Following are the processing fee charged by banks:
a. Standard Chartered Bank (Pakistan) Ltd. – Conventional Cards: There will be no processing fee for 3 months tenure, however, processing fee of 2.5% of the order amount is charged by the bank for 06 months tenure and a processing fee of 7% is charged by the bank on 12-months tenure. SCB Saadiq Cards - There will be no processing fee for 3 months tenure, however for 6- and 12-months tenure Rs.9,500/- fixed fee will be charged on SCB Saadiq Cards. There will be no pre-payment charges applicable on Saadiq Credit cards in case of early closure of Instalment plan (before completion of tenure).
b. MCB - Processing fee of 2.5% of the order amount is charged by the bank on 3-, 6- and 12-month EMI tenure.
c. Silkbank - Processing fee of Rs. 1500 or 1.5% (whichever is higher) + FED is charged by the bank on 3-, 6- and 12-month EMI tenure.
d1. One time upfront payment. d2. 0% bank processing charges.
7. If you make a purchase on or after the statement date then the transaction will reflect in the next month’s statement.
8. Purchase on Daraz to be made at least 7 working days before the next credit card statement is generated to ensure the transaction reflects in that statement. For example, your statement date is October 24, 2019, then the purchase should be made before October 17, 2019 Only customers opting for EMI on Daraz checkout page are eligible for this option
9. The Bank providing EMI service is not acting as corporate agent/distributor of third party products/services and shall not be responsible in any manner to any person or to any claim.
10. In case of order cancellations, it is customer’s responsibility to call the bank and cancel the relevant instalment plan.

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