Convert your credit card spends over a certain amount to easy EMIs with HDFC Bank, SBI and ICICI Bank. Although, the interest rate & tenure varies with banks, but the easy EMIs make it convenient to spread and manage the credit card bills. Know more about how can you convert HDFC, ICICI Bank and SBI credit card purchases to EMI.
Credit Cards are used by almost everyone today. This is one of the best options to make payments today and repay them later on without an additional cost. This allows you to plan finances and investments with greater flexibility.
With leading Credit Card providers such as HDFC Bank, SBI Card, and ICICI Bank, customers have a host of options to choose the best of cards as per their spending choices and habits. One can avail unlimited value back offers, discounts, and rewards on each card spending. On top of all, you also enjoy the advantage of flexible repayment and a facility to convert your card purchases into easy EMIs.
This indeed is one of the best ways to make essential purchases such as electronics, household furnishings or any lifestyle products without pinching your monthly budget.
SBI Card extends "Flexipay" facility; HDFC Bank offers "SmartEMI" feature; while, ICICI Bank allows "Instant EMI" to the existing card members to convert their card purchases into flexible EMIs for ease of repayment.
Also Check: Cibil score for credit card
Let's discuss each of these EMI features below:
The flexipay facility offered by SBI Card allows customers to convert all big purchases into smaller EMIs. Any transactions made on the SBI Credit Card that exceed 2500 can be converted into Flexipay. In order to convert the transaction into Flexipay, the customer should begin the process within 30 days of making the purchase.
Features of Flexipay
How to convert SBI Credit Card payment into EMI?
With SBI Card, you have three options available to convert any purchase into an EMI.
The options that are provided to customers are as follows:
Also Check: SBI credit card eligibility cibil score
Being an HDFC Credit Card member, you can conveniently convert your card payments into an affordable EMI scheme at an attractive interest rate. The EMI is calculated on the reducing balance method.
Repayment: The EMI and GST applicable will be added to the Minimum Amount Due (MAD) in your Credit Card statement. You are required to pay MAD in every statement cycle. The outstanding balance will attract applicable interest & charges.
No Documentation: No paperwork or documentation is involved in processing the request.
Interest Rate and Tenure: You can choose flexible tenure anywhere between 9 to 36 months for converting card purchases into EMI.
How to request?
Netbanking: Login to NetBanking with your customer id and password. Go to Cards section and select Credit Cards. Next, choose SmartEMI option under Transact.
Phone Banking: You can call phone banking and request the same.
Also Check: HDFC credit card cibil score
ICICI Bank's Instant EMI feature allows you to "shop in full, pay in parts" without adding much of the interest burden on your pocket.
You can convert your card purchase into EMI through the following methods:
Through Internet Banking:
Through iMobile app:
Call Customer Care
You can give a missed call on 9537667667 from the registered mobile number. ICICI Credit Card representative will follow up and process your request.
Also Check: ICICI Cibil Score