# FAQ: How To Convert Icici Credit Card Amount To Emi?

## How can I convert my Icici credit card payment to EMI?

How to avail the ‘ EMI on Call’ facility?

2. Step 2: Go to the ‘ Cards ‘ section.
3. Step 3: Select your Credit Card.
4. Step 4: Click on ‘ Convert to EMI ‘ on the eligible transactions in the ‘Recent Transactions’ section.
5. Step 5: Choose a convenient tenure for the EMIs and click on ‘Submit’.

## Can I convert my credit card bill into EMI?

You can either log in two your online account and under the credit cards’ section choose an EMI option, or you could visit the nearest branch of the bank and make a request for converting your credit card bill into EMIs.

## Can we convert gold to EMI in Icici credit card?

No, gold, jewellery or cash transactions cannot be converted into EMI.

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## How no EMI works in Icici credit card?

No Extra Cost EMI * Offers Buy big and pay small in easy instalments with Instant EMI * option on ICICI Bank Credit Cards. Easy instalment option is available in 3, 6, 9, 12, 18 and 24 months tenure.

## How is EMI amount calculated?

The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.

## Can I pay all EMI of credit card at once?

Repaying all EMIs at once is known as pre-closing the loan account. The loan officer will also intimate you of any pre-closure charges or penalties. Pay the entire balance amount (sum of all pending EMIs + preclosure charges, if any ) using a cheque or DD.

## Can we convert to EMI after bill generation?

To convert your billed amount into EMIs, follow the PhoneBanking process. You can convert billed Credit Card amount to EMI with HDFC Bank through PhoneBanking.

## How long does it take to convert to EMI?

Banks usually take 2-4 days to process the EMI. It will initially deduct the whole amount from your credit/debit card and within 2-4 days, the entire amount excluding any down payment amount will be credited back to your card and converted into EMI.

## How is credit card EMI calculated?

You can calculate the EMI on your credit card bill with a record of the interest rate and processing fee which is decided by your bank. The EMI will be calculated based on the remainder of the total purchase amount multiplied by the interest rate and tenure, and processing charges.

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## How is Icici credit card interest calculated?

ICICI bank charges interest at the monthly percentage rate on all the applicable transactions from the date of transaction till the amount is cleared in full. When you carry forward any outstanding due from the previous month, interest charge will be calculated using average daily balance method.

## Can I purchase gold on EMI?

You can buy gold on EMI with credit card payment only. Please note that gold on EMI can be processed only when you pay through an Indian credit card. The Gold Jewellery on EMI is not applicable to any other type of payment method such as cash, check, debit card, internet banking, Paytm, PayPal, etc.

## Can I purchase gold on HDFC credit card?

After Reliance Capital’s decision to halt sales of gold -backed funds,now HDFC Bank stops the use of credit card for gold purchases. The second largest private lender has directed its branches not to accept credit cards for gold coin purchases.

## Why is no EMI bad?

It is advisable not to opt for a loan to buy a product you don’t need, due to the temptation of zero – cost EMI. Also, if you get a loan to buy a product, don’t default on your EMI. Defaulting on EMIs will damage your credit score, which will make it difficult for you to get a loan or credit card in the future.

## Do we have to pay extra in no cost EMI?

In 2013, the Reserve Bank of India (RBI) banned banks from offering 0% EMI scheme on retail products. No cost EMI sounds like you don’t have to pay any interest on the loan, but in reality you do. Your bank will take back the discount in the form of interest. “RBI rules don’t allow interest-free loans.

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## Which credit card is best for EMI?

Which Bank’s Credit Card EMI Conversion Facility is Better?

• 2.1 SBI.
• 2.2 American Express.
• 2.4 ICICI Bank.
• 2.5 Axis Bank.
• 2.6 Kotak Mahindra Bank.
• 2.7 YES Bank.
• 2.8 IndusInd Bank. 2.8.1 People Also Look For.

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