Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
The Union Bank of India provides its credit card customers with EMI facility, that allows the customer to pay their credit card bill in installments. The tenure of repayment as well as the processing fees and interest rate are decided at the time of booking and cannot be changed afterwards.
The benefits of the Union Bank of India credit card EMIs are mentioned below:
The EMI, interest, and service tax on the EMI's interest amount are all included in the monthly payment dues. These monthly payment obligations will be billed in the monthly statement beginning with the next billing cycle date and will be included in the Minimum Payment Due (MPD) shown on the Card member's monthly credit card statement or as determined by the Bank from time to time. To keep a Card member's card in good standing, MPD must be paid. A customer will be charged with late payment fees if they fail to pay their monthly EMI.
The EMI facility will be closed on the 91st day if the Minimum Payment Due is not paid for more than three consecutive months or 90 days, whichever comes first, and the principal outstanding, along with any outstanding interest accrued until the date of such closure, will be debited to the Credit Card Account, and the entire amount due will appear in the subsequent monthly statement.
You can call the customer care number of the Union Bank of India to close the EMI facility of your credit card.
No, this facility is not applicable on cash withdrawals done using Union Bank of India credit card.
The maximum repayment tenure one can get on Union Bank of India’s credit card is 12 months.
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