One of the most distinct benefits of credit cards is the ability to convert payments into EMIs so that you don't have to deal with the financial impact of a large purchase. 

We may plan to make some big purchases during a month but our income may not be sufficient to repay it in whole in the next billing cycle. This is when EMIs come in handy. EMIs allow you to spread your big purchases into smaller payments on equal monthly instalments. 

Most credit card providers offer this EMI option to their customers. They even have tie-ups with leading e-commerce websites to provide ‘Zero cost EMIs’ to purchase high-end mobile phone, consumer durables, electronics and more. 

Here is a simple guide to convert your purchases into EMIs. This is just an indicative list and you need to check with your credit card company on specifics for your credit card: 

  • Log in to your credit card online account
  • Go to your unbilled transactions segment
  • Choose the transaction you want to convert to EMI (Most lenders have a minimum transaction cap of Rs.3000)
  • Click on the ‘Convert to EMI’ option
  • It will show you the tenure options and the corresponding rate of interest
  • Choose the tenure you want and confirm the request
  • The transaction will be converted to EMI and you will receive a confirmation message via SMS and email

EMI Calculation Method

The interest is calculated by using the reducing balancing method
Ex: Let’s assume an interest rate of 1.5% per month, here is a simple calculation of the EMIs 

 Loan Amt 

(in Rs.)

 36 months 

 24 months 

 18 months 

 12 months 

 9 months 




















Things To Note

  • Your credit card’s monthly payment dues will include both EMI and GST on the interest amount
  • A processing fee ranging between 0.5% -  1% of the loan amount is charged for every EMI conversion
  • Transactions of more than 60 days and transactions that have already been included in the last statement cannot be converted into EMI’s

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