Axis Bank Credit Card EMI
Through its 'Hello-EMI' facility, Axis Bank offers its credit card customers an option to convert their outstanding credit card dues into equated monthly installments (EMI).
Credit card transactions above Rs.2500 can be converted into EMIs at an interest rate of 1.5% per month. Users can choose a tenure of 6, 9, 12, 18 or 24 months. Axis bank offers easy methods to apply for Hello EMI facility within 60 days of making the purchase.
Convert Axis Bank Credit Card Bill into EMIs
Axis bank offers four different methods to convert your outstanding credit card bill into EMIs.
- Internet banking: Raising an EMI conversion request through net banking is one of the easiest options for converting your dues in to EMIs. Axis bank credit card net banking users can simply login to their respective accounts and check the transactions eligible for conversion into Hello EMI. They can select the transaction for conversion, the tenure of repayment and the corresponding interest rate from the same portal.Once the request is raised, they will receive an acknowledgment SMS and the application will be processed immediately. Once the amount is converted into EMI, they will again receive a confirmation SMS with the EMI details.
- Mobile banking: Through Axis bank's mobile banking app, Axis Mobile, users can apply for EMI conversion. You can do it in two ways. One is to select services> credit card> convert to EMI from the side menu. Once you select 'convert to EMI', the list of eligible transactions for EMI conversion will be displayed. Select the transaction for conversion, repayment tenure and agree to the terms and conditions and you're done.Another option is to click Accounts > credit card > convert to EMI. Choose unbilled transactions/current statement to view the list of eligible transactions. You can repeat the process mentioned above by selecting the transactions you wish to convert into EMIs.
- Send an SMS: You can also send an SMS to receive a call back from the concerned department which will receive your request for EMI conversion.Send an SMS EMI to 5676782 and await for the call. Make sure to have your credit card handy while on call.
- Call customer care: Axis Banks also allows its customers to avail the EMI facility by just making a call to its helpline numbers.You can call to Axis credit card customer care for all the requests related to EMI conversion. If everything seems fine you can book the facility on the same call. Make sure to check the interest rate, processing fee and any other conversion charges before giving your final concert.
Axis Bank Credit Card EMI Calculator
To know how much EMI you need to pay by converting your credit card payments into EMIs, you can use free EMI calculator powered by Axis bank. By simply adding your due amount and prefered repayment tenure you will get comprehensive details of your EMI along with the breakup. Follow the steps below to calculate your EMI.
Go to Axis bank credit card EMI calculator and enter the details. Enter your outstanding due and select tenure - 6, 9, 12, 18, or 24, and click calculate.
As soon as you hit the button, you will see a graphical representation of your EMI breakup along with the details. Axis bank's credit card EMI break up includes interest payable, processing fee, tax on interest and processing fee. It also tells you how much you are paying extra on your actual loan amount to give a clear picture.
Things to Consider while Applying Axis Bank's EMI Conversion On Credit Card Bills
- The conversion option is not available for purchases involving gold, jewellery and also for cash withdrawals, balance transfers and card fees
- Once you have converted your credit card payment into EMI, any reward points earned on the original transaction will be reversed
- The card holders cannot close their credit card during the EMI tenure
- Requests by add-on cardholders will be billed to the primary card holder
- Corporate credit cards are not eligible for EMI conversion
- Foreclosure and cancellation charges will be levied if the user wants to pre-close or cancel the EMI facility before the end of the tenure
FAQs on Axis Bank Credit Card EMI
- How will no-cost EMI work on my Axis Bank credit card?
No-cost EMIs do not charge you any processing fee or any interest. These are given on only selected products and can also be availed at only the merchant's place.
- Am I allowed to pay my Axis Bank credit card bill through EMI?
Axis Bank will allow specific purchases on your credit card to be converted into EMI. You cannot pay the outstanding amount of your bill through EMI.
- How long will it take to process my EMI conversion request?
Axis Bank will accept EMI conversion request but this does not mean that your EMI has been created. Once this is processed, you will get an SMS and also an email with the amortisation schedule.
- When will the foreclosure charges be applicable?
If you close your EMI account post 30 days of the first EMI debit, then the foreclosure charge will be 3% on the outstanding principal. If you cancel before the first EMI, you will get a waiver on the processing fee.
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