Equated Monthly Instalments (“EMI”) and No Cost EMI Terms & Conditions
The following terms and conditions apply to transactions made on the KSITE Website (www.ksite.in) and at KSITE Centers within India using EMI or No Cost EMI as a payment option:
Key Stone Institute of Teacher Education (“KSITE”) facilitates EMI and No Cost EMI options through its Payment Gateway service provider – RazorPay. You will be presented with EMI and No Cost EMI payment options if your total transaction order meets the relevant minimum order value for your eligible card as set by your eligible card issuing bank, and in the event that KSITE is running a No Cost EMI option.
For No Cost EMI, the amount equivalent to the total amount of interest payable on an EMI transaction will be discounted from your total transaction value upon choosing the No Cost EMI payment option. You will be liable to repay the principal loan amount and applicable interest to your eligible card issuing bank.
No Cost EMI is available with the purchase of an eligible course made using qualifying cards on 3- or 6-month tenures from most leading banks. Monthly pricing is rounded to the nearest rupee. Exact pricing will be provided by your bank, subject to your bank’s terms and conditions. Minimum order spend applies as per your card’s issuing bank threshold. Card eligibility is subject to terms and conditions between you and your card issuing bank. Offer may be revised or withdrawn at any time without any prior notice.
Representative example:
Let us consider the example of enrolling in the Course worth ₹60,000 on No Cost EMI on a 3-month EMI period. The bank charges 15% interest per annum.
Cost of Course: ₹60,000
Tenure of No Cost EMI: 3 months
Interest Rate: 15% per annum
Interest Amount: ₹1469.33
No Cost EMI Amount: ₹20,000
Actual loan amount charged on your card (Cost of course minus Interest Amount): ₹58530.7
| Month | Outstanding loan at the start of the month | EMI | Interest | Loan Principal Paid | Outstanding principal at the end of the month | GST on Interest at 18% | EMI + GST |
| 1 | 58530.70 | 20000.00 | 731.63 | 19268.37 | 39262.33 | 131.69 | 20131.69 |
| 2 | 39262.33 | 20000.00 | 490.78 | 19509.22 | 19753.11 | 88.34 | 20088.34 |
| 3 | 19753.11 | 20000.00 | 246.91 | 19753.09 | 0.0 | 44.44 | 20044.44 |
| Total | 60000.00 | 1469.33 | 58530.67 | 66.12 | 60264.48 |
The above is only an representative example.
EMI and No Cost EMI are offered by and subject to the terms and conditions applicable between you and your eligible card issuing bank. KSITE is not involved in any approval, extension, pricing, modification, pre-closure, closure or any matter incidental to offering the EMI payment option financing to you. This is decided at the sole discretion of your eligible card issuing bank.
You understand that KSITE and the Payment Gateway provider may share your transaction order information with your eligible card issuing bank and you expressly consent to this sharing of data for these purposes.
KSITE shall have no liability in the event your eligible card issuing bank refuses to process your EMI or No Cost EMI payment option transaction.
EMI and No Cost EMI related information (EMI amount, interest rate charged and total amount payable) for your purchase are displayed at the time of checkout by Razorpay. Your eligible card issuing bank is the authoritative source of this information and you are advised to contact your eligible card issuing bank for any further clarifications in this regard. For more information, we request you review the terms and conditions of your eligible card issuing bank offering such EMI payment option.
KSITE does not charge you any processing or convenience fee on the interest amount for the purpose of facilitating an EMI or No Cost EMI payment option. Your eligible card issuing bank may charge processing and/or convenience fees in accordance with the terms and conditions applicable between you and your eligible card issuing bank.
In the event that you have a complaint, dispute or enquiry about an EMI transaction, we advise you to approach your eligible card issuing bank.
In the event that you cancel or return your product(s) purchased using an EMI or No Cost EMI payment option, KSITE may facilitate a refund in accordance with the KSITE Refund Policy. You are advised to check with your eligible card issuing bank how cancellation(s) or refund(s) will affect EMI and any pre-closure or interest charges levied on you.
Local sales tax, GST and all other applicable taxes and levies will apply to all orders and shall be payable by you.
The EMI and No Cost EMI payment options may be combined with other KSITE promotions that are directed to individual end-user consumers and offered during the same promotional period on the KSITE Website, subject to the terms, conditions, and limitations applicable to this promotion and such other KSITE promotion(s).
KSITE’s facilitation of the EMI payment option is void where prohibited or restricted by law. KSITE may use any information provided in accordance with its privacy policies posted online at https://www.ksite.in/privacy-policy/.
KSITE reserves the right to change, modify or end the facilitation of an EMI payment option on the KSITE Website and these Terms and Conditions at any time, without notice. Such changes shall not affect already processed orders, for which this version of the Terms and Conditions shall apply. You must be 18 years or over in order to use the EMI payment option on the KSITE Website.