- 1 How can I change my HDFC credit card payment to EMI?
- 2 How can I pay all EMI in HDFC credit card?
- 3 What is the interest rate for HDFC Credit Card EMI?
- 4 How does EMI work on HDFC credit card?
- 5 What is smart EMI on HDFC credit card?
- 6 Can we convert to EMI after bill generation?
- 7 Can I pay EMI before due date?
- 8 Can I pay my credit card bill in EMI?
- 9 How is EMI amount calculated?
- 10 How is HDFC EMI calculated?
- 11 What are the hidden charges in no cost EMI?
- 12 How can I convert credit card to EMI?
- 13 Why is no EMI bad?
How can I change my HDFC credit card payment to EMI?
Post Purchase EMI Conversion (Smart EMI )
- Login to HDFC Net-banking account.
- Click on Cards.
- Go to ‘Transact’ and select ‘SmartEMI’
- Select the Card and go to unbilled transactions.
- Choose Debit for Transaction Type and Click on View.
- Check the box against the purchase that you want to convert into EMI.
- Click on confirm.
How can I pay all EMI in HDFC credit card?
Visit the loan officer at your nearest HDFC bank branch. Enquire the current balance in your 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.
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.
What is smart EMI on HDFC credit card?
Convert large purchases on your HDFC Bank credit card into SmartEMI and enjoy stress-free repayment. Enjoy attractive interest rates, among the lowest in the market. Get credit into your HDFC Bank account in seconds and repay conveniently over 9 to 36 months.
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.
Can I pay EMI before due date?
Yes, you can pre – pay the loan amount at any time in full or part without any additional charges. Please ensure EMIs are paid on time and pay only additional payment above EMI if your ECS mandate is active when you are paying close to the due date.
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 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 is HDFC EMI calculated?
To calculate your EMI, just enter the loan amount, rate of interest and loan tenure, and your EMI is instantly displayed. You can enter loan amounts from 50,000 to 4,000,000 and term from 1 to 5 years.
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|
How can I convert credit card to EMI?
How to avail the ‘ EMI on Call’ facility?
- Step 1: Log in to ICICI Bank iMobile app.
- Step 2: Go to the ‘ Cards ‘ section.
- Step 3: Select your Credit Card.
- Step 4: Click on ‘ Convert to EMI ‘ on the eligible transactions in the ‘Recent Transactions’ section.
- Step 5: Choose a convenient tenure for the EMIs and click on ‘Submit’.
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.