Features

Eligibility

Faqs


  1. What is Smart EMI?

Smart EMI is a facility provided to HDFC Bank Credit Card holders to convert their purchases or outstanding amount into easy monthly installment with flexible tenure ranging from 6 to 48 months. The total loan amount will be blocked against the credit limit.


  1. How can I avail Smart EMI?

You can call your RM or avail Smart EMI through Bank Net Banking, Mobile Banking, Phone Banking or WhatsApp. Please check the eligibility tab for further details.


  1. Which credit cards can I avail Smart EMI for?

Transactions done on all HDFC Bank issued credit cards except corporate & purchase credit cards can be converted to Smart EMI. Eligibility is however subject to internal policy.


  1. Is Smart EMI available for all purchases done through a credit card?

You can avail Smart EMI on a variety of purchases through your HDFC Bank Credit Card except for cash withdrawals, gambling, gold and jewellery related transactions. Refer to T&C for further details.


  1. What are the documents needed for Smart EMI?

It’s a pre-approved facility, therefore no documents are required.


  1. What is the minimum transaction amount that can be converted to Smart EMI?

Transactions starting from Rs. 2500 can be easily converted to Smart EMI.


  1. If my statement is generated can I still convert transactions to Smart EMI?

Yes, even if your statement is generated you will be able to convert your transactions to Smart EMI till the statement due date. To convert you billed transactions you can click here or reach out to Phone Banking.


  1. Can I convert my entire credit card statement to EMI?

You cannot convert your entire credit card bill to EMI. Minimum Amount Due to be mandatorily paid by the statement due date, the remaining amount can be converted to EMI.


  1. What are the tenure options offered?

Currently we offer 6, 12, 24, 36 & 48 months’ tenures for Smart EMI.


  1. Will I get reward points if I avail SMART EMI?

Reward points earned for any transaction will be reversed if the transaction gets converted into Smart EMI.


  1. How old should my transactions be for converting them to EMI?

All your settled transactions in the last 60 days can be converted to Smart EMI.


  1. How many transactions can I select when booking a Smart EMI?

You can select up to 10 transactions in one request. If you have more than ten transactions, you will have to do multiple journeys.


  1. What is the minimum and maximum amount that can be converted to EMI?

The minimum loan amount is Rs. 2500 and the maximum loan amount is Rs. 10 lakhs or credit limit whichever is lower.


  1. What is the processing fee for Smart EMI ?

Processing fee of up to Rs. 849 + GST is charged for each Smart EMI booking. This would be part of the credit card statement.


  1. Can I pre-close SMART EMI?

You can easily pre-close your Smart EMI by paying 3% of your outstanding balance as a pre-closure charge.


  1. Can I cancel a Smart EMI after booking?

You can cancel your Smart EMI up to 7 days from the date of booking without any charges. Beyond 7 days, a pre-closure fee will be applied.


  1. How can I repay the EMI?

The EMI will be billed in the upcoming credit card statement. The EMI will be included in the monthly credit card bill and will be part of the Minimum Amount Due which needs to be mandatorily paid.