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HDFC Credit Card EMI

In some instances, it is very difficult for individuals to pay the full credit card bill amount to the bank. In such cases, the easy monthly installments option is a savior and it can help individuals to manage finances easily.

Many individuals pay the minimum due amount on the credit card bill and postpone the full repayment of the bill. But, one thing that should be considered before paying the minimum balance amount is that the bank charges a very high-interest rate for the remaining amount.

These interest rates vary from 24%-36% per annum depending upon the terms and conditions. The bank policies also vary for every bank and thus the individual ends up paying more interest on the remaining amount.

HDFC Bank offers EMI conversion on credit card purchases through the smart EMI option. In this case, most of the bill amount is converted to EMIs that can be paid by the individual every month.

Let us look at the table which gives a rough estimate as to how much EMI has to be paid depending upon the interest rate and tenure.

Loan AmountEMI for 9 months EMI for 12 monthsEMI for 18 monthsEMI for 24 months

HDFC credit card EMI calculator

The EMI calculator helps to calculate the EMI before opting for the EMI option on any credit card. The EMI can be calculated by entering the loan amount and the details like interest rate and the tenure of the payment.

The calculator should be referred to so that the monthly budget can be adjusted for any individual.

HDFC credit card EMI Eligibility

Before applying for the EMI option on an HDFC credit card, you can check the eligibility using the HDFC Bank phone Banking and HDFC Bank Net banking options

1. HDFC Bank Net banking

  • If you are using the net banking option with HDFC bank, and your credit card is linked to your account, then you can check your eligibility. Login to the credit card option and select transact and then smart EMI option
  • A page that has unbilled transactions will appear and you can choose from the drop-down menu.
  • If you choose debit as transaction type and then view then the transactions will appear on the screen.
  • All the credit card transactions that are eligible for EMI conversion or smart EMI option are displayed on the screen
  • If any particular transaction is selected, after clicking on the option the know your eligibility tab is opened.
  • A new page is loaded after furnishing the details like card number, date of expiry and loan amount.
  • A new page with details like loan amount, tenure and interest rate will be displayed.
  • Another page with the EMI details and the loan details will be displayed once all the information is filled in by the applicant.

2. Phone Banking

  • If internet banking is not available, the phone banking option can be selected
  • You can visit the official HDFC bank website or you can call the HDFC bank customer care number for the details of the EMI option.
  • If your card is eligible for the EMI option, then you will receive the details regarding the eligible amount, interest rates and the tenure of the EMIs
  • No documentation is required for processing the request for the EMI option. If you are an HDFC bank customer then the card will have an option to convert to EMI and thus the option can be used as a customer.
  • After successfully applying for the EMI scheme, your EMI will be added and it will be shown in your credit card statement.
  • The statement will show the minimum amount that is due and the bill amount that has to be paid before the due date.
  • The billing date will not change and it will generally be the same date as the HDFC credit card.

The following are the Things to remember before applying for a credit card:

  • The option of converting the credit card to EMI is available to only a few selected cardholders and the bank reserves the option to provide this option to the cardholders.
  • Any reward points that are awarded to you will be reversed in case you decide to opt for the smart EMI option.
  • For converting the insurance bills, a processing fee of Rs. 300 will be charged
  • The tenure of the EMI option once decided cannot be changed according to the request of the customer.

Benefits of HDFC Credit card EMI option

  • Deferred Payment
  • In case you want to make a purchase that is high in transaction value or you may not have funds to pay the credit card bill in full. Then, in this case, the EMI option is a good way to defer your payments and reduce the burden of paying the bills in full.

  • No-cost EMI
  • This is one of the major reasons why the EMI option is chosen by a customer. In this scenario, there is no fee for EMI conversions and hence there is no charge or interest. For availing of an EMI credit card, the bank can be contacted and the processing can be done.

  • Financial Strain
  • Since the amount of EMI is paid over a period of a few months, the savings are not burdened and the customer also does not hamper its daily budget.

Drawbacks of HDFC credit card EMI

  • Interest Rate
  • Even though the EMI option provides you with the option of deferred payment, an interest rate is charged for the same. The interest is charged on the amount that is opted for the EMI option.

  • Blocked Credit Limit
  • If the EMI option is chosen, the credit limit of the card is blocked and you may face a decrease in the credit limit for the same card. The limit is unlocked as the EMIs are paid every month.

  • Increased credit utilization
  • As we know that the credit limit is blocked once the EMI option is chosen, the card if again used for major or high-value expenses may account to an increase in the credit utilization ratio of the customer. If the credit utilization ratio is more it can reduce the credit score of the individual.


The EMI facility is an attractive option when considered for the purpose of purchase of a high-value item. The EMI option will make it easier for you to purchase anything but, every facility has its own price and thus interest is the price that is to be paid for utilizing the amount that has not been paid in the credit card bill. The process for choosing the EMI option is quite simple and one can opt for it at the time of purchase itself. The cons of the EMI option should also be considered and kept in mind when opting for the same.


1. How is no-cost EMI different from normal EMI?

Normal EMI schemes charge processing fees and interest rates on EMIs whereas the no-cost EMI does not charge any of the above.

2. What are the tenures provided for the EMI conversion option?

The different tenures provided are three, six, nine, twelve and twenty-four months respectively.

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