Low No Cost EMI Facility

1. 1. OVERVIEW OF NO COST EMI

    

   1.1 What is No Cost EMI?

   No Cost EMI is a payment facility offered through CIFAR IVF Center in partnership with Razorpay and participating banks. This facility allows eligible customers to pay for fertility treatment and related services through Equal Monthly Installments (EMI) without incurring any additional interest charges.

   1.2 How No Cost EMI Works

   Under the No Cost EMI scheme:

   • • The customer selects services/treatments totaling a specific amount from CIFAR
     • The total amount is divided equally into 3-month or 6-month installments
     • The bank charges interest at its standard rates (typically 12-15% per annum)
     • CIFAR provides a discount equal to the interest charged by the bank, making the effective interest zero for the customer
     • The customer pays the discounted principal amount only, without any additional interest burden

   Example:

   For a service cost of ₹15,000 under 3-month No Cost EMI at 15% per annum interest:

   • • EMI without discount: ₹5,167 (approx.)
     • Interest charged by bank: ₹367 (approx.)
     • CIFAR discount: ₹367 (to offset interest)
     • Customer pays: ₹5,000 per month × 3 months
     • Total paid by customer: ₹15,000 (original amount only

    

   2. ELIGIBILITY CRITERIA

    

   2.1 Customer Eligibility

   To avail the No Cost EMI facility, the customer must:

   • • Be an Indian resident with a valid Indian address
     • Be at least 21 years of age
     • Possess an active credit card or debit card linked to a participating bank
     • Have a valid Permanent Account Number (PAN) or Aadhar number
     • Not be a minor or legally incapacitated person
     • Have sufficient credit limit on the credit card (if using credit card EMI)
     • Not have any existing defaults or disputes with the bank
     • Comply with all RBI (Reserve Bank of India) guidelines and regulations

   2.2 Service Eligibility

   No Cost EMI is available for the following services at CIFAR:

   • • In Vitro Fertilization (IVF) treatment packages
     • Intrauterine Insemination (IUI) treatment packages
     • ICSI (Intracytoplasmic Sperm Injection) procedures
     • Embryo Freezing and Thawing services
     • Consultation and diagnostic packages
     • Diagnostic tests and imaging services
     • Medication and supplement packages
     • Minimum transaction amount: ₹5,500
     • Maximum transaction amount: As per participating bank limits

   Note: Emergency services, already-discounted packages, and certain promotional offers may not be eligible for No Cost EMI.

    

   3. EMI TENURE AND PAYMENT OPTIONS

    

   3.1 Available EMI Periods

   CIFAR offers No Cost EMI facility for the following tenures:

   3-Month EMI Option:

   • • Monthly Installment = Treatment Amount ÷ 3
     • Total Interest (borne by CIFAR): Approx. 1.5% – 2% of original amount
     • Example: ₹30,000 treatment = ₹10,000/month for 3 months

   6-Month EMI Option:

   • • Monthly Installment = Treatment Amount ÷ 6
     • Total Interest (borne by CIFAR): Approx. 3% – 4.5% of original amount
     • Example: ₹30,000 treatment = ₹5,000/month for 6 months

   3.2 Payment Schedule

   • • First EMI shall be charged immediately at the time of availing treatment services
     • Subsequent EMIs shall be charged on the same date of each calendar month
     • Payment shall be made directly from the customer’s registered bank account or credit card
     • CIFAR and Razorpay will issue payment reminders before each due date
     • No prepayment penalties apply; customers may pay off the entire amount before the due date

    

   4. CHARGES AND COSTS

    

   4.1 What is Included in No Cost EMI

   The following are covered under No Cost EMI and borne by CIFAR:

   • • Bank interest charges (12-15% per annum, as applicable)
     • EMI processing fee, if any
     • CIFAR discount to offset interest charges

   4.2 GST on Interest

   Important: While the interest itself is offset by CIFAR’s discount, the bank may charge GST (Goods and Services Tax) on the interest amount. This GST will appear on the customer’s bank statement but is the responsibility of the bank, not CIFAR.

   Example:

   • • Original treatment cost: ₹15,000
     • Bank interest: ₹367
     • GST on interest (18%): ₹66 (approx.)
     • Customer’s total outlay: ₹15,000 (original amount) + GST on interest charged by bank

   4.3 What is NOT Included

   The following charges are NOT waived under No Cost EMI:

   • • Applicable GST on treatment services (as per current GST rates)
     • Ancillary charges (if any)
     • Cancellation or modification charges (if applicable)
     • Charges for additional services not part of the original package
     • Late payment charges or penalties (if EMI is not paid on time)

    

   5. INTEREST CALCULATION AND DISCLOSURE

    

   5.1 EMI Calculation Method

   CIFAR uses the standard declining balance method for EMI calculation:

   Where:

   • • P = Principal (treatment amount)
     • R = Interest rate per month
     • N = Number of installments

   For No Cost EMI, CIFAR applies a discount such that the effective interest becomes zero for the customer.

   5.2 Interest Rate Disclosure

   • • Interest rates are determined by participating banks and may vary (typically 12-15% per annum)
     • The exact interest rate will be disclosed by the bank during the checkout process
     • CIFAR has no control over the bank’s interest rates and reserve the right to update rates as per bank policies

   5.3 Amortization Schedule

   CIFAR/Razorpay will provide a detailed amortization schedule showing:

   • • Due date of each installment
     • Installment amount
     • Principal and interest breakdown
     • Running balance

    

   6. CUSTOMER RESPONSIBILITIES AND OBLIGATIONS

    

   6.1 Payment Obligations

   The customer agrees to:

   • • Pay each EMI in full on or before the due date
     • Maintain sufficient balance in the linked bank account
     • Provide accurate bank account and contact information
     • Immediately notify CIFAR of any changes in bank account details
     • Comply with all bank and Razorpay payment policies

   6.2 Breach and Default

   In case of default (non-payment of EMI):

   • • A reminder will be sent 5 days before the due date
     • Late payment charges may be imposed as per bank policy (typically ₹100-500 per missed installment)
     • Continued non-payment may result in:
       • Legal action by the bank
       • Credit score impact
       • Suspension of treatment services
       • • Reporting to credit bureaus

   6.3 Cancellation and Refund Policy

   Treatment Cancellation:

   • • If the customer cancels the treatment before completion, the EMI obligation remains
     • CIFAR will refund only the unused/non-consumed services as per refund policy
     • The full EMI tenure must be completed even if treatment is discontinued
     • No refund is provided for cancelled EMIs

   Service Refund:

   • • Refunds (if applicable) will be adjusted against pending EMI amounts
     • Remaining balance must still be paid by the customer

    

   7. SECURITY AND DATA PROTECTION

    

   7.1 Data Privacy

   CIFAR and Razorpay collect personal and financial information to process EMI requests. This information will be:

   • • Used only for EMI processing and payment collection
     • Protected under applicable data protection laws
     • Not shared with third parties except banks and regulatory authorities
     • Stored securely with industry-standard encryption

   7.2 PCI Compliance

   All payment transactions comply with PCI-DSS (Payment Card Industry Data Security Standard) requirements.

   7.3 Authorized Debit

   By opting for No Cost EMI, the customer authorizes:

   • • Razorpay to debit the specified bank account or credit card for EMI amounts
     • Banks to process automatic payments
     • CIFAR to provide treatment details to banks as required

    

   8. ROLE OF RAZORPAY AND BANKS

    

   8.1 Razorpay’s Role

   Razorpay acts as the payment gateway and does not:

   • • Provide credit or lending services
     • Make decisions on customer eligibility (bank decides)
     • Offer interest rate flexibility
     • Have authority over EMI terms or cancellation

   8.2 Participating Banks

   Participating banks reserve the right to:

   • • Reject EMI applications based on credit assessment
     • Charge interest as per RBI guidelines
     • Impose charges for late payment as per their policy
     • Modify interest rates as per reserve bank norms

   8.3 CIFAR’s Role

   CIFAR:

   • • Facilitates the EMI process through Razorpay
     • Bears the interest cost by providing a discount
     • Provides treatment services as per the agreed package
     • Is responsible for customer service and treatment-related queries

    

   9. TERMS FOR 3-MONTH EMI

    

   9.1 Specific Terms for 3-Month Plan

   • • Tenure: 3 months (3 equal installments)
     • Installment Frequency: Monthly
     • Minimum Amount: ₹5,500
     • Maximum Amount: As per bank limits (typically ₹5,00,000)
     • Interest Rate: 12-15% per annum (as per participating bank)
     • CIFAR’s Interest Discount: 100% of interest charged by the bank
     • Processing Time: 24-48 hours for approval

   9.2 3-Month EMI Example

   Treatment Cost: ₹30,000
   Interest Rate: 15% per annum
   Calculation:

   Month	EMI Amount	Interest Component	Principal Component
   1	₹10,000	₹375 (covered by CIFAR)	₹9,625
   2	₹10,000	₹250 (covered by CIFAR)	₹9,750
   3	₹10,000	₹125 (covered by CIFAR)	₹9,875
   Total	₹30,000	₹750	₹29,250

   Customer pays: ₹30,000 (original amount only)
   CIFAR bears: ₹750 as interest discount

    

   10. TERMS FOR 6-MONTH EMI

    

   10.1 Specific Terms for 6-Month Plan

   • • Tenure: 6 months (6 equal installments)
     • Installment Frequency: Monthly
     • Minimum Amount: ₹5,500
     • Maximum Amount: As per bank limits (typically ₹5,00,000)
     • Interest Rate: 12-15% per annum (as per participating bank)
     • CIFAR’s Interest Discount: 100% of interest charged by the bank
     • Processing Time: 24-48 hours for approval
     • Advantage: Lower monthly burden compared to 3-month EMI

   10.2 6-Month EMI Example

   Treatment Cost: ₹30,000
   Interest Rate: 15% per annum
   Calculation:

   Month	EMI Amount	Interest Component	Principal Component
   1	₹5,000	₹375 (covered by CIFAR)	₹4,625
   2	₹5,000	₹312 (covered by CIFAR)	₹4,688
   3	₹5,000	₹250 (covered by CIFAR)	₹4,750
   4	₹5,000	₹188 (covered by CIFAR)	₹4,812
   5	₹5,000	₹125 (covered by CIFAR)	₹4,875
   6	₹5,000	₹63 (covered by CIFAR)	₹4,937
   Total	₹30,000	₹1,313	₹28,687

   Customer pays: ₹30,000 (original amount only)
   CIFAR bears: ₹1,313 as interest discount

    

   11. RIGHTS AND DISPUTE RESOLUTION

    

   11.1 Customer Rights

   The customer has the right to:

   • • Clear disclosure of all EMI terms before approval
     • Request an amortization schedule
     • Prepay the EMI without penalty
     • Lodge complaints regarding incorrect charges
     • Access transaction history and statements

   11.2 Dispute Resolution Process

   Step 1 – Informal Resolution:

   • • Contact CIFAR customer service with complaint details
     • Response time: 5-7 business days

   Step 2 – Escalation:

   • • If unresolved, escalate to CIFAR management
     • Response time: 10-15 business days

   Step 3 – Ombudsman:

   • • If dispute persists, approach the participating bank’s ombudsman
     • Alternatively, file complaint with Razorpay dispute resolution team

   Step 4 – Legal Recourse:

   • • Any legal proceedings shall be governed by laws applicable in the jurisdiction where CIFAR is registered
     • Disputes shall be subject to jurisdiction of courts in the relevant jurisdiction

   11.3 Complaint Channels

   CIFAR Contact Details:

   • • Email: support@cifarivf.com
     • Phone: +91 9958009305
     • Website: www.cifarivf.com

   Razorpay Support:

   • • Website: www.razorpay.com/support
     • Email: support@razorpay.com

    

   12. REGULATORY COMPLIANCE

    

   12.1 RBI Guidelines

   This No Cost EMI scheme complies with:

   • • RBI’s guidelines on lending and credit practices
     • Fair Practices Code as per RBI directives
     • Reserve Bank of India (Payment and Settlement Systems) Regulations, 2008
     • All applicable GST regulations

   12.2 Consumer Protection

   This scheme is governed by:

   • • Consumer Protection Act, 2019
     • Information Technology Act, 2000 (for data security)
     • All applicable central and state laws

   12.3 No Predatory Lending

   CIFAR and Razorpay confirm that:

   • • No hidden charges are imposed
     • All terms are transparent and disclosed upfront
     • No coercive practices are employed
     • Customers are free to decline EMI and pay in full
   13. MODIFICATION AND AMENDMENTS

   13.1 Right to Modify Terms

   CIFAR reserves the right to:

   • • Modify EMI terms with 30 days’ notice
     • Add or remove participating banks
     • Change eligible services
     • Adjust interest rates in line with RBI guidelines

   13.2 Notification

   Changes will be communicated via:

   • • Email to registered customer email address
     • SMS to registered mobile number
     • Website announcements
     • In-app notifications

    

   14. TERMINATION AND DISCONTINUATION

   14.1 Termination by CIFAR

   CIFAR may discontinue No Cost EMI facility in case of:

   • • Regulatory restrictions
     • Bank policy changes
     • Fraud or abuse of the facility
     • Non-compliance with terms by customer

   14.2 Effect of Termination

   • • Ongoing EMIs must be completed by customers
     • No refund of discounts already provided
     • New customers will not be able to avail the facility

    

   15. DISCLAIMERS AND LIMITATIONS

    

   15.1 No Guarantee

   CIFAR does not guarantee:

   • • Approval of EMI application (bank decides)
     • Particular interest rates or terms
     • Treatment outcomes or success rates
     • Continuity of the EMI facility

   15.2 Third-Party Services

   CIFAR is not responsible for:

   • • Bank’s actions or policies
     • Razorpay’s system failures or delays
     • Loss of payment data (covered by bank security)
     • Bank’s customer service quality

   15.3 Limitation of Liability

   CIFAR’s liability is limited to:

   • • Refund of treatment cost (as per refund policy)
     • Credit adjustments for system errors
     • No compensation for indirect or consequential loss

    

   16. GENERAL PROVISIONS

    

   16.1 Entire Agreement

   These terms constitute the entire agreement between CIFAR and the customer regarding No Cost EMI and supersede all prior agreements and understandings.

   16.2 Severability

   If any provision is found invalid or unenforceable, the remaining provisions shall continue in full effect.

   16.3 Waiver

   Failure to enforce any provision does not constitute waiver of that provision or any other provision.

   16.4 Force Majeure

   CIFAR shall not be liable for non-performance due to circumstances beyond reasonable control (natural disasters, pandemics, wars, etc.).

    

   17. CONTACT AND SUPPORT

    

   17.1 Customer Support

   For queries regarding No Cost EMI, customers may contact:

   CIFAR IVF Center

   • • Website: www.cifarivf.com
     • Email: support@cifarivf.com
     • Phone: +91 9958009305
     • WhatsApp: +91 882653930
     • Office Hours: Monday – Saturday, 10:00 AM – 6:00 PM IST

   17.2 Grievance Redressal

   • • Grievance Officer: [Name and Designation]
     • Email: grievance@cifarivf.com
     • Response Time: 5-7 business days

    

   18. ACKNOWLEDGMENT

    

   By selecting No Cost EMI as a payment method, the customer acknowledges that:

   • • They have read and understood these terms and conditions
     • They are aware of the interest charges and CIFAR’s discount
     • They authorize automatic payment of EMI amounts
     • They are eligible to avail this facility
     • They agree to comply with all terms stated herein

    

   19. EFFECTIVE DATE AND VALIDITY

    

   These Terms and Conditions are effective from December 2025 and shall remain in force unless modified as per Section 13 of these terms.

    

Last Updated: December 13, 2025

FOR QUESTIONS OR CLARIFICATIONS, PLEASE CONTACT CIFAR CUSTOMER SERVICE.

Thank you for choosing CIFAR IVF Center for your fertility treatment journey.