Please read this carefully for details on your payment plan
EMI options for Lido Customers
Lido has tied up with various finance companies in India to provide no cost EMIs as one of the payment methods for its customers. By using the finance option, the customers can pay the whole pack fee in EMIs with no extra charges. The finance companies may change from time to time and are at the sole discretion of Lido. Customers have to pay a certain down payment upfront to Lido before applying for no cost EMI.
No Cost EMI process involves the following steps :-
Personal Identification - Aadhaar Card, PAN Card, residence proof
Verification- OTP for fetching CIBIL.
Financial Credit worthiness - Bank statement for last 6 months.
Auto debit EMIs- E-mandate and cancelled cheque.
E-Sign - via OTP.
For example, you can purchase a 60 classes novice pack at 32,000 INR, pay 3,200 INR as down payment and take a no cost EMI for remaining 28,800 INR.
EMI confirmation communication
Upon successful completion of no cost EMI, The customer will receive the loan term sheet from the finance partner. This would contain the terms and conditions of no cost EMI, the number and amount of EMI and due date for each EMI payment.
EMI confirmation communication from lido once the no cost EMI process has been successfully completed.
Impact of EMI on classes allocation
In case the mode of payment is no-cost EMI, the customer would get the equivalent classes for down payment within 24-48 hours of payment.
However, the classes for finance amount would be paid based on completion of no cost EMI process by customer and confirmation of the same via the finance partner.
For example - In an order of 60 classes where 3,200 INR is paid as down payment and rest as no cost EMI. Only 10% classes i.e 6 would be given for 3,200 INR and rest would be given upon loan completion.