# Often asked: How To Convert My Hdfc Credit Card Bill Into Emi?

## How can I change my HDFC credit card payment to EMI?

Post Purchase EMI Conversion (Smart EMI )

1. Login to HDFC Net-banking account.
2. Click on Cards.
3. Go to ‘Transact’ and select ‘SmartEMI’
4. Select the Card and go to unbilled transactions.
5. Choose Debit for Transaction Type and Click on View.
6. Check the box against the purchase that you want to convert into EMI.
7. Click on confirm.

## 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).

## How does EMI work on HDFC credit card?

Your bank pays the entire amount at once at the time of purchase. This amount is deducted from the overall credit limit on your credit card. When you make payments through no-cost EMIs, the EMI amount each month is restored to your credit limit. Assume you opt for a six-month EMI of Rs 12,000 towards your credit card.

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

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.

## 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 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.

## 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.

## How do I convert my monthly outstanding to EMI?

In case you want to convert your outstanding into EMIs, you can do so by logging on to your account through net banking and opting for smart EMI options for credit cards. Alternately, you can visit the nearest branch and ask your bank executive to help convert you’re outstanding into EMIs.

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

If this facility is not availed, you cannot convert the entire outstanding dues into an EMI payment at a later date. One way to convert an outstanding credit card due into an EMI payment is to take a low cost personal loan and payback all the credit card dues. This way also you can save high interest costs.

## Can I foreclose my credit card EMI?

Ans: The EMI amount is billed to you each month as per EMI scheme tenure, and will always be a part of Minimum Amount Due ( MAD). Ans: There is no foreclosure fees which will be charged, if you want to foreclose a running EMI.

## 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

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## 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.

## Does no cost EMI affect cibil score?

After August 31, non-payment of EMIs can affect your credit score as outlined below: 30 days delay in paying EMIs – While you can get a lot of phone calls from the lender to clear your dues, there will be no change in your CIBIL score.

## FAQ: How To Apply For Credit Card In Syndicate Bank?FAQ: How To Apply For Credit Card In Syndicate Bank?

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