Convert CC payments to EMIs

Convert Credit Card Payments into EMIs: What, Why, How

You’ve made a big-ticket purchase with your credit card and now you’re worried that you don’t have sufficient funds to pay for the purchase when your credit card bill is due next month.  What do you do?  Here’s an easy way out—pay in parts.

​​​​​​​Why pay in EMIs

When you make a high-value purchase with your credit card, you need to pay for it to the card issuing bank by the next due date. If you miss the payment deadline, you need to pay a late payment fee, along with a high interest rate on the unpaid amount.

But if you split your payment into EMIs, you don’t need to pay the entire purchase amount in one go, but over a period of time that suits your budget. The interest rate charged for this credit card “loan” is also lower compared to interest on late payment, and the interest is calculated on monthly reducing balance.


While most banks offer EMI payment on credit cards, you will need to check with your bank whether your card is eligible for this option. Also, only transactions above a certain value are eligible for conversion into EMIs. This minimum value varies from bank to bank.

EMI options

The tenure of your EMIs can be fixed as per your convenience, and the tenure can range from three to forty-eight months, depending on the bank’s policy.

Fees and charges

Charges for EMI conversion differ by bank. While some may charge a minimal one-time processing fee, other banks may offer you this option free. There may also be a pre-closure charge if you choose to pay off the loan earlier than scheduled.

How to opt for EMIs on your credit card

You can log in to your credit card account through your issuing bank’s online banking or mobile banking to view and select eligible transactions for EMI conversion. This process usually converts your purchase into a “loan” instantly. Or you can SMS or call your bank to initiate the process.