![Three higher-priced AJIO products on a teal colour-blocked banner — a New Balance sneaker, an Allen Solly shoulder bag and a Miraggio bag, the sort of order that clears AJIO's Rs. 2,500 EMI minimum]()
No-Cost EMI is an upfront discount that cancels out the bank's interest — which is fine until you send the thing back. AJIO's payments policy spells out what happens then, with its own worked example: a Rs. 10,000 product discounted by Rs. 600 refunds at "around Rs.9,400 and not Rs.10,000". And any interest the bank has already charged does not come back at all.
📅 Update log:
6 November 2026: first published. Read from AJIO's own Fees and Payments Policy at ajio.com/fee-payment-promotion-policy, logged out, from India, with a plain fetch. The document is published by Reliance Retail Limited and states that it covers both ajio.com and luxe.ajio.com. Every figure, clause number and quotation on this page comes from that document. Clause 3.15.7 and its Rs. 10,000 / Rs. 600 / Rs. 9,400 worked example are AJIO's own text and arithmetic, quoted rather than calculated by us. The one piece of arithmetic that is ours — an Rs. 3,200 order falling below the Rs. 2,500 EMI threshold after an Rs. 900 return — is labelled as illustrative in the text.
The clause: a No-Cost EMI refund is "net of such discount"
No-Cost EMI is not a bank lending you money for free. AJIO's policy says what it actually is in one sentence: "Under No-Cost EMI, the interest component is offset through an upfront discount." The interest still exists; a discount of roughly the same size is knocked off the price so that the instalments add up to the sticker figure.
Which means that when you send the product back, the discount goes back too. The policy continues: "Accordingly, in case of cancellation or return, refunds shall be processed net of such discount."
AJIO then prints its own worked example, and it is the clearest thing in the whole document.
| AJIO's own No-Cost EMI example | The figure in its policy |
|---|
| Product price, as AJIO's example states it | Rs. 10,000 |
| No-Cost EMI discount applied upfront | Rs. 600 |
| What the User actually paid | Rs. 9,400 |
| Refund on cancellation or return | "around Rs.9,400 and not Rs.10,000" |
| Interest and charges already levied by the bank | "will not be refunded" |
Read on its own terms this is internally consistent — the buyer paid Rs. 9,400 and gets Rs. 9,400 back, so nobody is out of pocket on the principal. The reason it is worth knowing in advance is that the number on the product page said Rs. 10,000, and a refund that lands Rs. 600 lighter than the price you remember looks like an error when it is not.
The part that can genuinely cost money is the next clause. Clause 3.15.6 states that on any cancellation, full or partial, "the interest, Charges and taxes already charged by the Issuing Bank will not be refunded". So instalment interest the bank has already levied stays levied, and that is a matter between you and the bank — the policy says Reliance "does not impose any interest or Charges" itself.
If you are even slightly unsure about size or fit, think twice before choosing EMI. On this policy a return unwinds the discount, the bank's reversal can take up to 15 working days, and any interest already charged is not coming back. A straight card payment has none of those moving parts.
Partial cancellation can claw the discount back
The clawback clause is the one most likely to catch somebody who returns one item from a larger order. Clause 3.15.6 says that where a partial cancellation drops the order below the Minimum Order Value, or eligibility conditions otherwise stop being met, the User "may no longer be eligible to avail the EMI Instant Discount" — and Reliance "reserves the right to reverse or recover or claw-back any discount amount that the User may have already availed from the refund amount payable to the User".
With the EMI minimum at Rs. 2,500, that is not a remote scenario. An order of Rs. 3,200 that loses an Rs. 900 item falls to Rs. 2,300, below the threshold — that arithmetic is ours, illustrating the published rule, not a case AJIO describes.
The policy adds that on partial returns "the benefits of any discounts or offers may be proportionately adjusted or reversed".
Every hard number the policy publishes
Most of this document is prose about discretion and liability. These are the lines that carry an actual figure.
| What it governs | The figure | What the policy adds |
|---|
| Minimum order value for EMI | Rs. 2,500 | "or such other amount as may be specified from time to time" |
| Maximum order value for cash on delivery | Rs. 20,000 | May be lower, or blocked, by User, product or pin code |
| EMI tenures shown at checkout | 3, 6, 9, 12 months | The policy gives these as examples, not a fixed set |
| EMI Instant Discount | "either 5% or 10%, etc." | An immediate price reduction at checkout on eligible cards |
| Bank EMI cancellation or reversal | Up to 15 working days | Governed by the Issuing Bank, not by AJIO |
| Refund after cancellation or a mispricing claim | 7–10 business days | To source account, wallet or bank |
| Reporting a delivered MRP lower than the listed price — AJIO | 24 hours | From when you received the product |
| The same report on AJIO Luxe | 3 business days | A different deadline on the same company's other platform |
| COD refund to a bank account on AJIO Luxe | Up to 15 business days | Against 7–10 on AJIO |
| Repaying an invalidated payment after written notice | 5 business days | Then "civil and/or criminal legal action" is reserved |
The Rs. 20,000 cash-on-delivery ceiling comes with more conditions than the number suggests. The policy says COD "may be blocked for certain Users or for certain Product(s) or for certain locations/pin codes", that the limit may be lower for any of those, and that "No Cash on Delivery Charges/Fees" promotions "will not be applicable for customers with high frequency of cancellations/exchanges/returns due to any form of suspicious or questionable transaction history".
And note the 24 hours against 3 business days. Both platforms belong to the same company and both have a rule for a delivered MRP lower than the advertised price — AJIO gives you 24 hours from receiving the product; AJIO Luxe gives three business days. On a weekend delivery the practical gap between those two is considerable.
When the price on the tag does not match the price you paid
The policy acknowledges mispricing openly — "errors and discrepancies arising out of technical glitches and time lags is unavoidable" — and sets out what happens each way. The two directions are not treated the same.
If the delivered product's MRP is LOWER than the price AJIO published, the User has to notice it, and has 24 hours to report it by phone on 1800-889-9991 or by email, "in each case resulting in an acknowledgment". If Reliance is satisfied with the claim, the difference comes back within 7–10 business days as AJIO Wallet credit or a discount coupon for future purchases — not as money.
If the delivered MRP is HIGHER than the published price, Reliance "shall have the right to reserve the dispatch" until the error is fixed and the User pays the difference. A User who declines can cancel and be refunded. So one direction is resolved in store credit and the other in cash from the customer — that asymmetry is an observation about the drafting, and nothing here suggests it is improper.
The wallet: two segments, and a forfeiture clause
The AJIO Wallet has two parts — AJIO Cash and AJIO Bonus Points. Cash-on-delivery refunds land in it as AJIO Cash on the User's instruction; Bonus Points are granted at Reliance's "sole discretion" and are a payment method for future orders.
The clause to read before closing an account is this one: if a User wants to deactivate the wallet, "all credit balance available in the User's AJIO Wallet, if any, will automatically stand forfeited, and Reliance will not be required to process any refunds in any manner whatsoever". The policy's own advice is to spend the balance first.
It also states that any refund of a wallet credit balance is "at the sole discretion of Reliance", and that credits can be held back if fraudulent activity is suspected. Read alongside the returns policy — which says wallet money "cannot be further transferred to any other bank account or encashed" — money that reaches the AJIO Wallet is store credit with an expiry risk attached to the account itself.
The two clauses that escalate beyond a refund argument
Invalidated payments. Clause 3.11 covers a purchase where the payment is later invalidated. AJIO may recover it from the User's AJIO Wallet. If the wallet balance is insufficient, the User "shall within 5 (five) business days from the date of receiving a written notice from Reliance, remit the ... Invalidated Payment into Reliance's bank account".
And if that does not happen: "Reliance shall be entitled to initiate civil and/or criminal legal action against the defaulting User at his/her cost and peril." The same wording is repeated separately for AJIO and for AJIO Luxe.
Someone else used your card. Clause 3.10 is one sentence and it sets a hard precondition: "If order has been placed from some other account using User's card, User will have to file a police complaint for AJIO to initiate any cancellation, return and refund of such order."
Clause 3.9 sits just before it and asks the User first to check whether a family member, friend or colleague made the purchase. Taken together: an unrecognised charge is not resolved by a support ticket on this policy — a police complaint is named as the prerequisite.
Neither clause is unusual in Indian marketplace terms, and nothing here says either is unlawful or unfairly applied. They are flagged because they are the two places in the document where the consequence stops being commercial.
What AJIO says it is not responsible for
On EMI, the policy is emphatic and repeated: the facility is a credit product of the Issuing Bank, Reliance "acts solely as a facilitator and does not provide any financing, guarantee EMI approval, or influence any credit decision", and "All disputes relating to EMI facility, including Charges and repayment, shall be addressed directly with the Issuing Bank".
Interest rates, processing fees, issuer charges, conversion charges and pre-closure charges are all defined as the bank's "Charges", may attract GST, and are not published by AJIO at all — the policy tells Users to read the bank's Key Fact Statement before choosing EMI.
More broadly, Reliance disclaims liability for a lack of authorisation on a transaction (including on gift cards and vouchers issued in its own promotions), for exceeding a card limit agreed with the issuing bank, for technical glitches during a transaction, and for declined transactions beyond its control. It also reserves the right to cap how many transactions a User may make and to refuse to process any payment "for any reason whatsoever".
Grievances go to grievance.officer@ajio.com, and the policy is governed by Indian law with exclusive jurisdiction in the courts at Mumbai.
Frequently Asked Questions
Does AJIO refund the full product price on a No-Cost EMI return?
No — AJIO's own policy says the refund is processed net of the No-Cost EMI discount, and it prints a worked example. Clause 3.15.7: "Under No-Cost EMI, the interest component is offset through an upfront discount. Accordingly, in case of cancellation or return, refunds shall be processed net of such discount. For example: Product price is Rs.10,000, No-cost EMI discount is Rs.600, the User paid Rs.9,400. In this case of cancellation or return, refund amount will be around Rs.9,400 and not Rs.10,000." You get back what you actually paid, not the price on the tag. Separately, interest and charges the bank has already levied "will not be refunded", and the bank's EMI reversal can take up to 15 working days.
What is the minimum order value for EMI on AJIO?
Rs. 2,500, "or such other amount as may be specified from time to time by Reliance". EMI is available only on selected products and only on eligible credit or debit cards from selected banks, and certain products are excluded at the discretion of Reliance or the bank. Tenures are given as 3, 6, 9 and 12 months "e.g." and are shown at checkout, along with the final EMI amount including interest, charges and taxes. One trap worth knowing: if a partial cancellation drops your order below Rs. 2,500, the policy lets Reliance "reverse or recover or claw-back" any EMI Instant Discount already given, out of your refund.
What is AJIO's cash on delivery limit?
Rs. 20,000 as the maximum order value, for both AJIO and AJIO Luxe — but the policy immediately qualifies it. COD "may be blocked for certain Users or for certain Product(s) or for certain locations/pin codes", and the limit "may also vary and may be lower" for any of those. Promotions offering "No Cash on Delivery Charges/Fees" are expressly excluded for customers with a high frequency of cancellations, exchanges or returns, or with what the policy calls a suspicious or questionable transaction history. Refunds on a COD order never come back as cash — they go to the AJIO Wallet as AJIO Cash, or to a bank account whose details you supply.
What happens to my AJIO Wallet balance if I close my account?
The policy says it is forfeited. Clause 3.13: if a User wishes to deactivate the AJIO Wallet, "all credit balance available in the User's AJIO Wallet, if any, will automatically stand forfeited, and Reliance will not be required to process any refunds in any manner whatsoever". AJIO's own advice in the same clause is to "use and exhaust" the balance before requesting deactivation. Any refund of a wallet balance is in any case "at the sole discretion of Reliance", and AJIO's separate returns policy states that money credited to the wallet "cannot be further transferred to any other bank account or encashed". Treat it as store credit, not savings.
What if the MRP on the product AJIO delivered is different from the price shown on the site?
The policy covers both directions, and gives you very little time on one of them. If the delivered MRP is LOWER than the published price, you must tell AJIO within 24 hours of receiving the product — by phone on 1800-889-9991 or by email, in each case getting an acknowledgment. If Reliance accepts the claim, the difference comes back within 7–10 business days as AJIO Wallet credit or a discount coupon, not as cash. On AJIO Luxe the same window is 3 business days rather than 24 hours. If the delivered MRP is HIGHER, Reliance may hold the dispatch until you pay the difference; if you decline, you can cancel and be refunded.
Prices & codes last verified: November 6, 2026
Every figure, clause number and quotation on this page was read from AJIO's own Fees and Payments Policy at ajio.com/fee-payment-promotion-policy on 6 November 2026, logged out, from India. The document is published by Reliance Retail Limited and states that it applies to both ajio.com and luxe.ajio.com. The Rs. 10,000, Rs. 600 and Rs. 9,400 figures are AJIO's own worked example in clause 3.15.7, quoted verbatim — they are not our calculation and not a general rule about what any particular No-Cost EMI discount will be. The only arithmetic of ours on this page is the illustrative Rs. 3,200-minus-Rs. 900 order used to show how the Rs. 2,500 EMI threshold can be crossed by a partial return; it is labelled as illustrative where it appears and is not a case AJIO describes. AJIO states repeatedly that EMI is a credit product provided by the Issuing Bank, that Reliance acts solely as a facilitator, that it imposes no interest or charges of its own, and that all EMI disputes must be addressed directly with the bank. Interest rates, processing fees, conversion charges, pre-closure charges and the GST on them are set by the bank and are neither published by AJIO nor estimated here — read your bank's Key Fact Statement. The policy reserves many decisions to Reliance's "sole discretion". This is a reading of a published policy on one day. It is not legal, financial or tax advice, it is not a complete account of AJIO's terms, and it does not assess any clause against Indian consumer law or RBI rules, nor allege that any term is unlawful, unfair or improperly applied. Policies change without notice — read the live page before acting on anything here.
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