FAQ: How To Convert To Emi In Axis Credit Card?

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How can I convert my Axis Bank credit card to EMI?

How do I convert credit card transaction to EMI

  1. a. Internet Banking: Login > Accounts > My Credit Cards > Convert to EMI > Select statement type from current / unbilled > select from eligible transactions > Enter EMI details > Agree to the Terms & Conditions & Enter the NetSecure Code.
  2. b.
  3. c.

Can we convert credit card to EMI?

You can choose to convert your credit card payments into EMIs during the time of purchase itself. If you think that you do not have the money or have only a part of the total amount with you at the time of purchase, you can pay that amount as a down payment. The rest can be converted into an EMI.

How can I know my axis credit card EMI?

Netbanking

  1. Login to Axis Bank Net-banking account.
  2. Go to Accounts.
  3. Select My Credit Cards.
  4. Click on Convert to EMI.
  5. Select statement type from current / unbilled.
  6. Choose the transactions that are to be converted.
  7. Enter EMI details.
  8. Agree to the Terms & Conditions.
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How can I get EMI on credit card?

The moment your EMI scheme is in action, your bank will temporarily block an amount equal to the value of the purchase you made through the EMI option. Your bank will start increasing your credit limit by the amount equal to your monthly EMI as you start paying back.

Can we foreclose credit card EMI axis?

The Card Member may foreclose the Facility at any time by contacting AXIS Bank’s 24 Hour Customer Care to avail of the foreclosure. The Card Member shall pay such foreclosure charges as may be indicated by AXIS Bank in the communication sent to the Card Member at the time of granting the Facility.

How can I close my Axis Bank Credit Card EMI?

You can close or cancel your Axis bank credit card by sending an email to the bank. The email can be sent to premium. cards @ axisbank.com or [email protected] axisbank.com to initiate the cancellation process.

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.

How can I get smart EMI for HDFC credit card?

Do note that you need to hold an HDFC Bank Credit Card currently.

  1. NetBanking: Login to your NetBanking account and check your SMART EMI eligibility under Cards – Credit Cards – Transact – SMART EMI.
  2. PhoneBanking: our 24×7 PhoneBanking service will assist you towards the process to verify your eligibility.
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Which bank credit card is best for EMI?

Comparison of Credit Card EMI Facility of Different Banks

Banks Interest Rate Applicable (In Per Annum) Minimum Transaction Amount Needed for EMI Conversion (In ₹)
HDFC Bank Starts from 14%
ICICI Bank 13%-15% 3000
Axis Bank 18% 2500
Kotak Mahindra Bank 13.92%-20.04% 2500

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.

Is EMI good or bad?

Is an EMI scheme good or bad? Although a good EMI scheme is easy on your wallet, you must try to avoid it as the first option. You may not only be spending more than the actual worth of the product, but also splurging first and then relying on EMI payments is not healthy for your finances.

Can we cancel EMI on credit card?

EMI transaction requests, once submitted, cannot be cancelled /modified/reversed until the same have been approved/rejected by the issuing banks of the credit card holders.

What happens if you dont pay EMI?

– An increased interest rate: If you haven’t paid your EMIs, the lender will increase the interest rate and/or levy additional fees and charges on your loan. – A lower CIBIL score: An EMI default would lead to the borrower’s credit score being lowered, which affects his future ability to take debt.

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