FAQ: How To Pay Emi Through Credit Card Hdfc?

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How can I pay my HDFC loan EMI online?

How to Make HDFC Loan Payment Online at Paytm?

  1. Go to HDFC loan payment page on Paytm.
  2. Enter your Loan Account Number.
  3. Click on ‘Get Payable Amount’
  4. Check the payable amount and choose the payment method of your preference Proceed to make the payment.
  5. You are done with it.

Can I pay my credit card bill in EMI?

Paying a credit card bill via equated monthly instalments (EMIs) essentially means converting the credit card dues into a loan and paying it via EMIs. You can either convert the entire billing amount into EMIs or select specific card transactions crossing a threshold amount for which you want to pay via EMIs.

How can I check my HDFC credit card EMI?

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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How is EMI deducted from credit card?

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.

Can I pay all EMI at once HDFC?

Can I Pay All The EMI at Once at HDFC? Whether you have taken a personal loan, home loan, car loan, or any other loan product from HDFC, the bank allows you to repay the remaining EMIs at one go. Repaying all EMIs at once is known as pre-closing the loan account.

How can I pay my missed EMI HDFC?

Make your payments to HDFC Bank Overdue Loan payment in 3 simple steps. Enter your HDFC Bank overdueLoan account number and Date of Birth. Select your net banker from drop-down and click on PAY. You will be securely redirected to the bank payment interface of your chosen net banking option.

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.

Should I convert credit card to EMI?

The most common option for people who find it difficult to pay their entire credit card bill on time is to convert their credit card payments into Equated Monthly Instalments ( EMI ). A) Your credit limit on the card will be temporarily blocked/reduced by an amount equal to the bill amount converted into EMIs.

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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.

What is the interest rate for HDFC Credit Card EMI?

The rate of interest for EMI on HDFC credit cards is 1.5% per month (9 months to 3 years).

What are the hidden charges in no cost EMI?

Under the three-month EMI plan, the interest rate charged is 15 per cent and you would have to pay an interest amount of Rs 2,250. Interest is added to product cost.

Actual Cost of the product Rs 15,000
Offer Price under Zero Cost EMI Scheme Rs 17,250
Total Cost to be paid by you via EMI Rs 17,250

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.

Will my EMI be deducted?

So unless you have specific approval from your bank, your EMIs will still be deducted from your bank account. The RBI has stated in its guidelines that lending institutions should frame board-approved policies for providing reliefs on loans and credit card dues to all eligible borrowers.

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