Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Federal Bank Credit Card EMI - Online/Offline

    If you have availed of a credit card from Federal Bank then it is important you pay your credit card bills on time. However, if you cannot pay your bill in full, then you can choose to pay through EMIs. You can convert a minimum of Rs.2,500 and a maximum spend of Rs.75,000 to EMIs.

    Federal Bank EMI facility eligibility

    There are certain eligibility criteria you will have to fulfill if you wish to avail yourself of the Federal Bank EMI facility:

    • The Federal Bank has the right to decide the eligibility of the credit card holder as per their existing policies and guidelines.
    • Spendings between Rs.25,00 and Rs.75,000 can be converted into EMIs.
    • The bank has the right to approve or reject your application for the Federal Bank EMI facility.
    • On making a purchase under the EMI facility, though your credit limit will reduce, your account statement will show only the installment amount payable.
    • Only transactions which are single in nature and completed will be considered for EMI payment.
    • Outstanding balances converted into EMIs cannot be converted further into EMI.
    • The cardholder can choose to convert any number of transactions into EMIs.

    Interest Rate applicable

    The interest rate charged will depend on the tenure for which you will avail the EMI facility. Given below in the table is the interest rate chargeable based on the tenure chosen.

    Tenure Interest Rate (p.a.)
    3 months 13%
    6 months 13%
    9 months 14%
    12 months 14%
    18 months 15%
    24 months 15%

    Fees and other charges

    Processing Fee 2.5% or Rs.200
    Foreclosure Fee 2% + GST

    FAQs on Federal Bank Credit Card EMI

    1. Can I cancel my EMI facility?

      Yes, you can get your EMI facility canceled within 4 days prior to the generation of the first EMI bill.

    2. Will my credit score get affected if I do not pay my EMI on time?

      Yes, your credit score will get affected if you do not pay your EMIs on time.

    3. What should I do if I lose my credit card?

      In case you lose your credit card, you must immediately contact the bank and get your credit card blocked.

    4. Can I pay the EMI using my debit card?

      Yes, you can use your debit card to pay your EMI.

    5. Can I give a standing instruction so that my EMI due date is paid automatically?

      Yes, you can provide a standing instruction so that the EMI amount is deducted from your bank account on the due date.

    6. I have a query regarding the Credit Card EMI facility. How can I contact the bank’s customer care service?

      You can call the toll-free number 1800 425 1199 in case you have any query related to credit card EMI facility.

    7. Can I pay the EMI using net banking?

      Yes, you can pay your EMI through net banking.

    8. Will the bank levy late payment fee if I do not pay my EMI on time?

      Yes, the bank can levy a late payment fee if you do not pay your EMI on time.

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