Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • HDFC Credit Card EMI

    There are times when our HDFC credit card bill for the month seems too high to repay at one instance. It’s the same time when we make our mind to pay the minimum due keeping aside the consequences.

    But one thing you should know before opting for minimum due is that once you paid your minimum due for the month, the bank charges interest on the remaining amount of your bill on a daily basis. The interest rates could range from 24%-36% per annum based on the bank’s policies.

    One way to avoid paying such hefty interest rates is to opt for EMI conversion option. It allows you to convert your outstanding credit card bill into easy instalments payable every month. Though the option still attracts interest, it would be less compared to the regular credit card interest rates.

    HDFC offers EMI conversion on credit card purchases through its Smart EMI feature.

    The Smart EMI option allows the eligible HDFC credit card holders to convert most of the credit card payments into EMI schemes. However, purchases involving gold or jewellery are not eligible for conversion in to EMIs. Also transactions which are 60 days or older are not eligible for the scheme.

    Applying for HDFC EMI Conversion Scheme or Smart EMI:

    Before converting your HDFC credit card bill into EMI, you need to check eligibility of your card for the scheme. Eligibility check can be done using both net banking and phone banking options.

    1. Net Banking:
      • If you are using HDFC net banking and have a credit card linked to your account, you can login to find the eligibility. Simply click on HDFC credit card login and go the ‘Cards’ tab. Under credit card, click ‘Transact’ and then ‘Smart EMI’
      • A page with unbilled transactions will appear. Select your card from the drop down, choose ‘debit’ as transaction type and click ‘view’.
      • All your credit card transactions eligible for EMI conversion or Smart EMI scheme will be displayed with a ‘click to know your eligibility’ option.
      • If you wish to convert a particular transaction, click on the corresponding ‘click to know your eligibility’ option.
      • A new page will then be loaded with all the loan details such as card number, eligible limit, loan amount, tenure and interest rate. Once you choose the tenure, the corresponding interest rate will be applied automatically. Accept the terms and conditions and click ‘submit’.
      • Another page with EMI details and the entire loan details will be displayed. By confirming the same, an acknowledgement message will appear with reference number and loan number. It indicates that your loan application has been processed successfully.
    2. Phone Banking:
      • When you don’t have internet banking account, you can avail the phone banking facility offered by HDFC bank.
      • Visit and find your city/state specific phone banking number. Call the HDFC credit card customer care, and talk to the agent to check your eligibility. If your card is eligible for EMI conversion, you will be detailed about interest rate, eligible amount, tenure and other details. If everything is good to go, you can book the loan immediately.
      • No further documentation is required for processing the request. You will receive a call or SMS once the processing is done. For all those applying through net banking, HDFC promises to convert all credit card transactions in one second at any time, any day, including Sundays and public holidays.
      • Once you have successfully applied for the Smart EMI scheme or converted your credit card payment into EMI, your monthly EMI will be added to your credit card statement. It will be included in your minimum amount due. The billing date as well as the payment due date remains the same as your HDFC credit card.

    HDFC Credit Card EMI Calculator

    Before opting for EMI conversion option, you can calculate EMI using HDFC EMI calculator option. With simple user interface, the EMI calculator will provide you the installment amount you have to pay every month.

    To calculate your EMI visit and enter the details as required. You have to choose the Smart EMI option, enter interest rate, loan amount, and the tenure before clicking ‘submit’ button.

    Alternatively, you can also use the below table for reference. It shows the EMI (calculated at interest rate of 1.50% per month) you need to pay based on your loan amount and tenure.

    Loan Amount (Rs.) 50,000 1,00,000 2,00,000 3,00,000 4,00,000 5,00,000
    9 months 5,980 11,961 23,922 35,883 47,844 59,805
    12 months 4,584 9,168 18,336 27,504 36,672 45,840
    18 months 3,190 6,381 12,761 19,142 25,522 31,903
    24 months 2,496 4,992 9,985 14,977 19,970 24,962
    36 months 1,808 3,615 7,230 10,846 14,461 18,076

    Things to Note while Converting HDFC Credit Card payments into EMIs

    • Only selected HDFC credit card holders are eligible for converting their credit card payments into EMIs and the bank reserves the right to decide the eligibility
    • Any reward points earned through the credit card transaction converted into Smart EMI will be reversed. That means, you will earn zero reward points if you’re using the EMI scheme.
    • For converting insurance bills a processing fee of Rs.300 will be charged
    • Tenure once selected cannot be changed

    FAQs on HDFC Credit Card EMI

    1. Will I be allowed to get a no-cost EMI post-purchase?

      You should keep in mind that no-cost EMIs can only be availed when you make a purchase and the service is offered by a lot of online retailers like Flipkart, Amazon, etc.

    2. When it comes to an HDFC credit card, how does EMI work?

      When you purchase something on your HDFC Bank credit card, the amount of the transaction will be blocked against your credit limit on the card. You can then ask for the conversion of the amount into EMI. Once the bank approves this, they will charge an interest. You can then pay the amount in equal amounts over the tenure that you have chosen.

    3. What is the difference between no-cost EMI scheme and the normal EMI scheme?

      A normal EMI scheme will charge you an EMI interest rate and also a processing fee. A no-cost EMI will not charge you any fee when you convert a transaction into EMI.

    4. Can I pay my HDFC credit card bill through EMI?

      Right now, HDFC allows its customers only specific purchases on a credit card bill to be paid through EMI. You cannot pay the entire amount through EMI.

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