Often asked: How To Convert Emi In Axis Bank Credit Card?

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Can we convert credit card to 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. To convert your bill into EMIs, you need to log in to your Net banking account and opt for the available option(s).

How can I check my Axis Bank Credit Card EMI?

Here are the steps that needs to be followed:

  1. Login to Axis Bank Internet Banking.
  2. Scroll to the ‘ Credit Card ‘ section. You will find your registered card listed here.
  3. Choose the ‘ Balance and Payments’ option.
  4. Select the Credit Card you want to check the balance of (In case you have multiple cards )
  5. Click Submit.

How can I clear my Axis Bank Credit Card EMI?

If customer opts for foreclosure or cancellation of EMI facility, customer will have to inform the customer service of Axis bank for discontinuing the EMI facility. The cancellation will not be automated. EMI cancellation request should be given at least 1 working day before the due date.

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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.

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.

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.

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 I foreclose my credit card EMI Axis Bank?

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.

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Can we foreclose credit card EMI axis?

Home > Cards > Credit Cards > EMI > EMI transaction cancellation and charges applicable. If a call / email is made after 30 days of EMI debit, this will be considered as a foreclosure and 3% foreclosure charge plus service tax will be applied on principal outstanding.

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.

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 GST applicable for credit card EMI?

With respect to credit card EMIs, GST will be applicable on EMI processing fee and also on the interest component of your EMI. You can check the same on your credit card EMI table. Apart from this, GST rate of 18% is also applicable on all fees and charges that the bank levies.

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

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