# Readers ask: How To Convert Credit Card Payment To Emi In Icici?

## How can I convert my Icici credit card bill into EMI?

How to avail the ‘ EMI on Call’ facility?

2. Step 2: Go to the ‘ Cards ‘ section.
3. Step 3: Select your Credit Card.
4. Step 4: Click on ‘ Convert to EMI ‘ on the eligible transactions in the ‘Recent Transactions’ section.
5. Step 5: Choose a convenient tenure for the EMIs and click on ‘Submit’.

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

You can either log in two your online account and under the credit cards’ section choose an EMI option, or you could visit the nearest branch of the bank and make a request for converting your credit card bill into EMIs.

## How does EMI on Icici credit card work?

ICICI Bank Credit Card holder asks for the transaction to be converted into easy EMIs. This transaction is automatically converted into Instant EMI. Customer’s Credit Card statement will clearly display the transaction that has been converted into easy EMIs.

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## 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.

## 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 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 long does it take to convert to EMI?

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 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.

## 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.

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## How no EMI works in Icici credit card?

No Extra Cost EMI * Offers Buy big and pay small in easy instalments with Instant EMI * option on ICICI Bank Credit Cards. Easy instalment option is available in 3, 6, 9, 12, 18 and 24 months tenure.

## How can I convert my Icici credit card outstanding amount to monthly EMI?

Through the ICICI Bank iMobile App (H3)

2. Open the iMobile app.
3. Go to the “ Cards ” section.
5. Go to “Recent Transactions” and select an eligible transaction.
6. Select “ Convert to EMI.”
7. Choose an EMI tenure of your choice.
8. Click on “Submit.”

## Can I pre close my credit card EMI?

The EMI scheme can be pre -closed by calling the 24 hour HDFC Bank Credit Cards customer service. ‘Preclosure Interest charges’ (as applicable) will apply. In case of preclosure, any payback offered by merchant at time of loan booking will be debited on pro rata basis.

## Can I close my credit card EMI?

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 if I pay my credit card EMI early?

Banks or card issuers may charge you a pre- payment fee if you wish to clear your dues before the end of the loan EMI tenure. Moreover, you may also have to pay off the interest on a pro-rata basis. This means that you need to pay the accrued interest until the day on which the EMI ( loan ) account is closed.

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