EMI (Equated Monthly Installment) is one of the many payment methods of online shopping, only for the customers using any of the accepted Credit Cards on Penguin.com.bd.
*It allows customers to pay for their ordered products in easy equal monthly installments.*
Penguin.com.bd has introduced a convenient option of choosing up to 12 months EMI facility for customers who use Credit Cards for buying any items priced above 5000 BDT. The duration and extent of the EMI options available for a given product are viewable on the checkout page in the Payment Information section.
The purpose of EMI is to enable the Card members to purchase goods and services offered by merchants and transfer such transaction(s) to EMI using the limit available on his/her Credit Card and repay the amount of the purchase in monthly installments in accordance with this EMI terms and conditions.
What You Should Know:
- Monthly Installment: The total EMI price divided by number of months allowed and opted for under the EMI facility.
- EMI Tenure: The number of monthly installments to be paid.
- EMI Account Holder: Subscriber of the EMI services.
- EMI Account: Sub-accounts/limits within the allowed credit limit to facilitate transfer of a transaction from the card account to the installment account.
- EMI Price: The purchase price of a product or transaction which is subject to transfer to EMI account applicable to specific offer for a specific duration of installment plan.
- Customers wanting to avail EMI facility must have a Credit Card from any one of the banks in the table below.
- If a disqualifying card is used for EMI payment. Customer can not avail EMI on that purchase.
- EMI is available for primary Credit Card members and shall only be offered to those card members who are abided by the credit card terms and conditions meet the minimum transaction floor limit and has the required credit limit on his/her credit card account.
- EMI facilities are only available for orders which costs over BDT 5000.
- EMI charges may vary on promotional offers. The EMI terms and conditions may vary from one offer to another based on the nature of offer and duration of the installment plan opted by the card member.
- Cardholder must comply with the payment procedure depends on the requirement from specific banks.
- Convenience Fee of the EMI is not refundable.
- Based on acceptance of the EMI transaction, the first EMI installment shall be billed to the card member in the immediate billing statement and subsequent EMI installments shall be billed to every month thereafter until the EMI price is billed in full.
- EMI facilities vary from one product type to another. Please carefully check the EMI tenure period for your preferred product on each product page and on the checkout page as well.
You can pay with equal monthly installment payment option using the Credit Card of any of the following banks:
|4||Dutch Bangla Bank|
|7||Mutual Trust Bank|
|8||National Credit & Commerce (NCC) Bank|
|15||South Bangla Agriculture And Commerce Bank|
|16||Standard Chartered Bank|
EMI charges for different tenures are as followed for the banks listed above (Except Standard Chartered Bank).
|Months||EMI Charges||Amount Range|
|3 Months||3.00%||5,000 - Above|
|6 Months||4.50%||5,000 - Above|
|9 Months||6.50%||5,000 - Above|
|12 Months||8.50%||5,000 - Above|
For Standard Chartered Bank, the EMI charges for different tenures are as followed:
|Months||EMI Charges||Amount Range|
|3 Months||3.50%||5,000 - Above|
|6 Months||5.50%||5,000 - Above|
|9 Months||8.00%||5,000 - Above|
|12 Months||10.50%||5,000 - Above|
If your desired product is eligible for EMI option, according to its respective product page, and if you have a Credit Card from any of the associated banks which are mentioned above, you can get EMI facility on your purchased product. During the checkout phase, you will see the EMI options for your eligible cards, banks and EMI Tenures.
- In Case of “Online Payment”, it will redirect you to our secure payment gateway.
- After completing you will be directed to a “Successful Order” Notification on the page.
- And you will also get a “Successful Order” Text Message on your mobile phone.
EMI Transaction Procedure with Your Bank:
EMI Payment on Credit Card:
- As soon as you complete your purchase order on Penguin.com.bd, you will see the full amount charged on your credit card.
- The EMI processing will be handled by the bank itself *. After 5-7 working days, your bank will convert this into EMI.
- From your next billing cycle, you will be charged the EMI amount and your credit limit will be reduced by the outstanding amount.
- If you do not receive an updated monthly bank statement reflecting your EMI transactions for the following month, feel free to contact us for further assistance.
*For example, if you have made a 3-month EMI purchase of BDT 30,000 and your credit limit is BDT 1, 00,000 then your bank will block your credit limit by BDT 30,000 and thus your available credit limit after the purchase will only be BDT 70,000. As and when you pay your EMI every month, your credit limit will be released accordingly.
- EMI facilities with the aforesaid Banks are regulated as per their terms and conditions and these terms may vary from one bank to another.
For any query or concern please contact your issuing bank, if your purchase has not been converted to EMI by 7 working days of your transaction date.