Croma EMI Refund Rules 2026: Who Pays the Interest on a Return

This is the clause that catches people who return a financed purchase, and Croma states it without softening:

'In case of refund, though the amount is credited back to the customer's card, the EMI closure will happen only after customer communicates the same to the bank. Customer will need to specifically communicate to the banks its intent of EMI loan closure. Also if customer fails to communicate the same to bank, the interest amount that bank will keep levying will be borne by the customer. For closure or any other charges, if any which are levied by the customer's bank, will be borne by the customer.'

Three separate costs are sitting in that paragraph. The instalment plan does not cancel when the money comes back. Interest continues to accrue until you tell the bank yourself. And any foreclosure or processing charge the bank applies to close the plan is yours.

None of that is unusual — the plan is an agreement between you and your card issuer, not between you and Croma, which is exactly the point the next section makes. What is worth knowing is that nobody else is going to make the call. The refund arriving on your statement is not a signal that the loan has closed; it is just a credit sitting against a balance that is still being charged interest.

If you need the tenure changed, the plan foreclosed or the interest explained, Croma's FAQ sends you somewhere else — and is explicit about why.

'This EMI option is facilitated by the card issuing bank. The EMI eligibility, payment tenure [months-3/6/9/12/18/24] and refund rules are solely on the internal discretion and approvals of the issuing bank. Any communication related to an ongoing EMI scheme should be addressed to the card issuing bank.'

Note that 'refund rules' is in that list. The rules governing what happens to an instalment plan when a purchase is refunded are the bank's, not the retailer's, which is the structural reason the first section exists.

On interest, Croma separates its own position from the bank's just as carefully: 'RBI has mandated banks to take a nominal charge on EMI services. This charge will be collected by banks over the EMI tenure. This charge is collected by Issuing Bank and not by Croma. This is an annual charge and is calculated on the outstanding balance.' And on the worked example it publishes: 'This is for indicative purposes only, your EMI payments may differ with total order amount and additional bank charges.'

One more limit, stated in a single line and easy to miss: 'Note: Currently, we facilitate Credit card EMI only.' Debit card EMI is not offered, and 18 and 24 month tenures are 'available only on selected banks'.

Bundled gifts are standard on electronics promotions. Croma's rule for what happens when the main product goes back is short and has a sting in it.

'All the free gifts, packaging material, and supporting accessories would have to be returned along with the product. In case you do not wish to return the free item, then apart of amount corresponding to the value of that gift item would be deducted from the total amount.'

So the free item has a price after all — it just only appears if you try to keep it. The FAQ does not say how that value is determined or where it is published, which is the part worth asking about at the time of purchase rather than at the time of return.

'Packaging material' in the same sentence is doing quiet work too. The original box is part of what has to go back, which on a large appliance or a television is a real storage commitment for however long you are deciding.

• Nobody should ask you for more than the invoice at the door. Croma: 'Our delivery partners would never ask you to pay anything besides the invoice value, however, if such an instance occurs, we request that you do not accept the order and raise a complaint with us immediately.' The stated escalation route is a WhatsApp message to Croma Assist on 9452594525.
• The invoice is your warranty document. 'The invoice you receive with the order can be used to claim the warranty, as it includes your purchase and product details. We send an invoice copy to the registered email address & on WhatsApp registered number for all orders.' So a missing warranty card in the box is not the problem it looks like.
• GST input credit is available on both channels. 'You can claim GST benefits when you shop with Croma, both online on croma.com and Tata Neu, and offline at a Croma store near you' — by adding the GST number during checkout or giving it at the till. Croma adds: 'You must file your monthly/quarterly GST return to claim GST on your purchases from Croma.'
• Unsealed or tampered packaging: refuse it. The FAQ carries a dedicated question on this, and the remedy once a parcel has been accepted is the ordinary return/replace route rather than an on-the-spot refund.

• Assume you will have to close the EMI yourself. The refund hitting your card does not do it, and the interest accruing until you call is explicitly yours.
• Ask the bank about the foreclosure charge before you commit to a tenure. Croma states that any closure charge 'levied by the customer's bank, will be borne by the customer', and does not say what it is because it does not set it.
• Ask what a bundled free gift is valued at. If you return the main product and keep the gift, 'a part of amount corresponding to the value of that gift item would be deducted', and the FAQ does not publish those values.
• Keep the box. 'Packaging material' is listed among the things that must go back, alongside the manufacturer box, MRP tag, user manual, warranty card and all in-the-box accessories.
• Do not plan on walking it into a store. Online orders cannot be returned at a Croma store; the route is WhatsApp to Croma Assist.
• Remember debit card EMI is not on offer. 'Currently, we facilitate Credit card EMI only', and the 18 and 24 month tenures are restricted to selected banks.