How to make credit card payment in to EMI?

Turn your credit card spends in to EMI by following these steps
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How to make credit card payment in to EMI?
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3 min
10-September-2024
Paying off a large credit card bill can be daunting, but converting it to EMI (Equated Monthly Instalments) can provide a manageable solution. Credit card EMI options allow you to split your outstanding balance into smaller, more affordable monthly payments over a predetermined period. This method eases financial pressure by distributing the total amount, including interest, into equal instalments. The benefits of paying your credit card bill in EMIs include lower monthly outflows, reduced financial stress, and the ability to maintain a good credit score. Many banks and financial institutions offer this feature, making it accessible and convenient. Understanding how to convert your credit card bill into EMIs, the eligibility criteria, and the different methods available can help you better manage your finances and avoid hefty interest rates and penalties associated with late payments.

How to convert credit card bill to EMI?

Converting your credit card bill to EMI is a straightforward process that can be done through different channels:

  • Check eligibility: Ensure your credit card provider offers the EMI option and that your transaction qualifies for conversion.
  • Choose the transaction: Select the transaction or the total outstanding amount you want to convert to EMI.
  • Select tenure: Choose the repayment period, usually ranging from 3 to 24 months.
  • Confirm: Follow the steps through net banking, phone banking, or by contacting customer support to complete the conversion process.

Net banking

To convert your credit card bill to EMI through net banking, follow these steps:

  • Log in to your bank's net banking portal.
  • Navigate to the credit card section and select the ‘Convert to EMI’ option.
  • Choose the transaction or outstanding amount you wish to convert.
  • Select the EMI tenure from the available options.
  • Review the terms and conditions, then confirm the conversion.

Phone banking

To convert your credit card bill to EMI through phone banking, follow these steps:

  • Call your bank’s customer service number.
  • Select the option for credit card services.
  • Speak to a representative and request to convert your credit card bill to EMI.
  • Provide details of the transaction or total outstanding amount you wish to convert.
  • Choose the EMI tenure as per your preference.
  • Confirm the conversion after reviewing the terms and conditions.

Eligibility criteria to make credit card payment in EMI

Before opting to convert your credit card payment into EMI, it’s essential to understand the eligibility criteria:

  • Credit card provider: Ensure your bank or credit card issuer offers the EMI facility.
  • Transaction amount: Generally, only transactions above a specific amount are eligible for conversion to EMI.
  • Repayment history: A good repayment history and credit score are often required to qualify for the EMI option.
  • Card type: Some banks may offer the EMI facility only on certain types of credit cards.
  • Time frame: Conversion requests must be made within a specific period after the transaction date.
  • Account status: Your credit card account should be active and not over the credit limit.
For more assistance, you can contact customer support or learn how to activate a credit card.Top of FormBottom of Form

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Frequently asked questions

How to pay a credit card bill on EMI?
To pay a credit card bill on EMI, log in to your net banking account or use phone banking. Select the option to convert your outstanding amount to EMI, choose the tenure, and confirm the transaction.

How is EMI deducted from a credit card?
EMI is deducted monthly from your credit card account. The total amount, including interest, is divided into equal instalments and added to your monthly credit card statement until the loan is repaid.

Is it good to convert credit card bills to EMI?
Yes, converting credit card bills to EMI can be beneficial as it reduces immediate financial burden, spreads out payments over time, and helps maintain a good credit score by ensuring timely payments.

Can I pay my credit card bill in installments?
Yes, you can pay your credit card bill in instalments by opting for the EMI facility offered by your bank. This allows you to split the total amount into manageable monthly payments.

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