How to Convert your Axis Credit Card Transactions into EMI

If you are an Axis Bank credit card holder who is dreading the bill due date, we have the solution to put your worries to rest. The most important part is the Axis bank credit card online payment. Despite the bill, you can ensure not draining your resources by opting for the Axis Bank credit card EMI option. What this facility essentially does is that it gives you an Axis bank credit card loan which you can pay in instalments over a tenure of your choice. As a result, the total amount gets divided into smaller, manageable portions that you can pay off easily, without adversely affecting your critical savings. To understand the Axis credit card EMI facility and the Axis credit card loan involved, let us take a better look at the process.

Process of Axis Bank Credit Card EMI Conversion

If you wish to convert the expenses on your Axis Bank credit card into EMI, you can do so using any of the three methods mentioned below-

a. Internet Banking Service-

• Login to your net banking account
• Go to ‘Accounts’ and select ‘My Credit Cards’
• Choose the ‘Convert to EMI’ option
• Select the statement type as current/unbilled
• Choose the ones for Axis credit card EMI conversion from the list of eligible transactions
• Enter the Axis Credit Card EMI details i.e. amount and tenure, and agree to the Terms & Conditions
• To validate enter the NetSecure Code and click submit

b.  Axis Mobile App:

• Login to your account on the Axis Mobile app
• Go to Credit Cards and select the Convert to EMI option
• Choose the ones for Axis credit card EMI conversion from the list of eligible transactions under current/unbilled transactions
• Enter the Axis Credit Card EMI details i.e. amount and tenure, and agree to the Terms & Conditions
• To validate enter the mPin and click submit

c. Customer Care

 You can also convert your transactions into EMI by calling the customer care helpline on 1860-419-5555/ 1860-500-5555.

Are you eligible for Axis Bank Credit Card EMI?

The first thing you need to check is if you are eligible for availing the Axis credit card loan for EMI. Here are some things you need to check-

1. The transaction amount that you wish to convert to EMI should be more than INR 2500
2. Axis Bank credit card EMI conversion will only be processed on transactions that are less than 30 days old.

 iii.  You must have an adequate credit limit on your Axis Bank credit card.

1. Your credit card should not be blocked.
2. Debit transactions such as balance transfer, cash withdrawals, and card fees are not eligible for EMI conversion.
3. Gold and jewellery transactions are also not eligible for Axis Bank credit card EMI conversion.

vii.   EMI conversion advantage is not available on Axis Bank corporate cards.

How long do you have to pay your Axis credit card EMI?

Availing EMI facility on Axis Bank credit card comes with flexible tenure and you can choose one range for either 6, 9 or 12 months. This tenure can extend up to 18 and 24 months too if the transaction you wish to convert to EMI is more than INR 30,000.

It is important to remember that while the EMI payment is on, you cannot close your account. You also cannot modify the billing period and the EMI amount will be billed every month on the same date as that of the first EMI. As a result, the minimum due payable on the credit card would include the EMI amount and must be paid in full.

What are the charges involved in availing EMI on your Axis Bank credit card?

Some charges are levied on your credit card if you convert your Axis Bank credit card transactions into EMI. These include

• Interest rate– 1.5% on a monthly reducing balance
• Processing Fee – 1.5% (minimum INR 150)
• Service Tax – 18% on the processing fee and the interest rate

Can you foreclose your Axis Bank Credit Card Loan?

Foreclosing the EMI on your Axis Bank credit card EMI is possible. For this, you would need to contact the customer care service and request the same. You must place the request at least one working day before the payment is due. Foreclosure requests shared after 30 days of the debit of EMI amount attract a 3 per cent foreclosure charge on the outstanding principal amount along with service tax.

You could also cancel your EMI conversion by contacting the customer service before the first EMI is debited from your account. In such a case the processing fee charged for the service is also waived off.

If you wish to avail this EMI advantage offered by Axis Bank, you can apply for Axis bank credit card online. If you match the Axis Bank credit card apply eligibility criteria, you will automatically be eligible for the EMI conversion facility. Equipped with this advantage, you can be assured that your credit card bills won’t give you sleepless nights.