Easy Monthly Rent – EMR
Frequently Asked Questions (FAQs)
1. What is EMR?
EMR, Easy Monthly Rent, has been introduced by SabRentKaro to add convenience to customers renting products on the site.
2. Is this a facility created through a bank or a finance company?
No. It is a facility that has been created by SabRentKaro on its own for the convenience of the customer.
3. EMR facility is available on what products of SabRentKaro?
This facility is applicable on all products of SabRentKaro. Details are in the following questions.
4. What is the eligibility criteria for availing EMR facility on SabRentKaro?
To avail this facility two criteria need to be met:
- the rental charges per month should be more than Rs.400
- the rental period should be for at least 60 days
5.How does EMR work?
EMR works similar to an EMI of a financial loan or credit that you receive from banks or institutions. The base rental cost is almost equally converted to monthly payment installments which you can pay as per the schedule.
6. Illustrate EMR with an example
Consider that you have rented an air-conditioner on SabRentKaro at Rs.2,000 per month for 3 months. Below is the summary of the total cost:
|Sno||Air-conditioner rent for 3 months|
|4.||Commission||Rs.600||10% on rental|
|5.||Goods and Services Tax||Rs.108||18% on commission|
|6.||Bank charges||Rs.152.37||1.5% on total above|
The above amount of Rs.Rs.10310.37 can be paid in full or in EMR. If you choose EMR, the payment structure will be as below:
|Sno||Air-conditioner rent for 3 months|
|4.||Commission||Rs.200||10% on rental|
|5.||Goods and Services Tax||Rs.36||18% on commission|
- 2nd EMR payment Rs. 2148
- 3rd EMR payment Rs. 2374 (? Refer Q8 below)
7. What are included in the first EMR pay?
First month rent+ first month commission+ security deposit+ logistics+ Goods and Services Tax (on commission) + bank charges (on total)
8. Will the EMR vary?
Yes it can. The way we calculate rentals is on the number of days you have rented and is not a round-up to the nearest month. E.g.: you have rented from June 20, 2016 to September 19, 2016. The number of days is 93 days. Hence you will receive EMR invoices that are equal for the first two months (as they are calculated for 30 days each) and higher in the third invoice which is calculated for 33 days.
10. What are the other charges?
A bank facilitation charge of 1.5% is additionally levied on the rental+logistics+commission charges of the transaction. It is a fee paid to the bank by SabRentKaro.
11. How is the EMR payment flow?
On opting for EMR, the first instalment is paid immediately. Every month invoice will be sent for payment of the next EMR payment.
13. What is the payment period?
You have to pay the EMR amount within 7 days of receiving the invoice.
14. Are there any charges for late payment?
Yes. For all outstanding EMR payments, interest will be levied 20% p.a.
15. What are the payment options?
You can pay by cash (refer to our Cash on Delivery terms), net banking or by credit/debit cards. Currently you can pay using all cards and from all banks through our payment gateway on our website www.sabrentkaro.com
16. How to get a preview of the EMR payments?
Before you check-out, there are view options to look at your future EMR’s, date of payment, break-up etc
17. Details of EMR payment is made available?
Yes. At the time of booking the rental, you can touch upon the icon on the screen to understand the break-up of the costs and charges of the EMR.
18. Multiple product rentals can be clubbed together for EMR facility?
No. EMR facility is provided at a product level and you need to opt for each product separately.
19. Can coupons be used while availing EMR facility?
Yes coupons can be used while availing EMR facility. Enter coupon code at the time of booking your rental and then you are eligible for the mentioned discount. If the coupon is on the rental amount, the discount will be spread across the EMR’s. Example: Rs.150 coupon will be redeemed in 3 parts of Rs.50 each.
20. In case of cancellation of rental what will be the impact on EMR?
Cancellation policy varies from product to product. Please contact us for further guidance and assistance
21. In case of further information required, what needs to be done?
You can contact our toll free no 1800 3000 7368 or write to us at email@example.com.