EMI
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EMI

Grabmore.in offers EMI payment option for its customers and at present the Easy Monthly Installment is only available for Citibank and HDFC Bank credit card holders. You can choose to pay in 3 or 6 monthly installments on a HDFC Bank card and pay in 6 months on the Citibank Card.

You can be rest assured, our payment gateway partners use latest and secure encryption technology to keep all your transaction details confidential.

The minimum order value to avail the EMI option is RS. 4,000 and the maximum is upto RS. 49,000.

Calculation for EMI options

This is the formula to calculate:
E = P×R×(1 + R)n/((1 + R)n - 1)

E is EMI
Where P is Principle Loan Amount
R is rate of interest calculated in monthly basis it should be = R/12/100

if its 12% annual, then its 12/12/100=0.01

n is tenure in number of months

Eg: For 20000 at 12% annual interest for a period of 3 months
it comes to 20000*0.01*(1 + 0.01)^3/((1 + 0.01)^3 - 1)
ie. 20000*0.01*(1.030301)/(1.030301-1) ==> 6800.44/per month

Eg: For 20000 at 12% annual interest for a period of 6 months
it comes to 20000*0.01*(1 + 0.01)^6/((1 + 0.01)^6 - 1) = 3450.97
ie., 20000*0.01*(1.061520)/(1.061520-1) ==> 3450.97/per month