Axis Bank Credit Card EMI

The Axis Bank credit card EMI benefits are as follows:

• Eligible Amount: You can convert transactions of as small as Rs. 2,500 into affordable EMIs. 
• Interest Rates: Interest rates of credit card EMIs are generally lower than credit card interest rates, leading to significant savings over the repayment tenure. Axis Bank charges an interest of just 1.5% per month on EMI.
• Conversion validity: Conversion can be done till the 60th day of the purchase.
• Repayment Tenure: While converting your purchases into installments, the bank provides you the benefit of choosing a repayment Axis Bank Credit Card EMI tenure ranging from 3, 6, 9, 12, 18, or 24 months. 
• Foreclosure and Cancellation: Customers can opt for foreclosure or cancellation of the EMI facility by informing Axis Bank customer service to discontinue the EMI facility. EMI cancellation request has to be given at least 1 working day before the due date. 
• Deferred Payment: It might be difficult sometimes to pay off your credit card bill in full and you might even want to make some expensive purchases. In such circumstances, you can convert your purchases into EMIs and repay them gradually over a few months.
• No-cost EMI: This is a great option that cardholders can choose when applying for an EMI conversion facility. Axis Bank Credit Card EMI offers a No Cost EMI option, where you are not charged with an interest rate or processing fee, resulting in getting all the benefits of EMI conversion without suffering any drawbacks.
• Low Upfront Financial Stress: Salaried customers usually want to pay off the purchase amount over an extended period as they do not want to bear the burden of the transaction at once. This facility benefits salaried individuals by enabling them to purchase an item without straining their entire monthly household budget.

• Minimum Transaction Value: The value of the credit card transaction must be at least Rs. 2,500 to be eligible for the facility of Axis Bank EMI on credit card.
• Limitation: Other debit transactions like cash withdrawals, balance transfers and credit card fees are not eligible for this facility.
• Time Limit for Requesting: The request for conversion of the transaction into EMI is processed only if it is received within 30 days from the date of purchase.
• Reward Points Reversal: On availing of the EMI facility, your accrued reward points (if any) on the original transaction will be reversed.
• Processing Fee: You will have to pay an Axis Bank credit card EMI processing fee to avail of this facility.
• Bank’s Discretion: The bank may accept or reject the EMI conversion request at its sole discretion without assigning any reason whatsoever.
• Ineligible Transactions: Jewelry and gold transactions are not eligible for EMI conversion.
• Facility Not Available for All Cards: The EMI facility is not available for Corporate Cards.
• Interest Accrual: This facility comes with an Axis Bank credit card EMI interest rate of around 1.5% (monthly reducing balance for post-purchase EMIs) or 14% per annum (Merchant EMI).
• Blocked Credit Limit: When you use the Axis Bank EMI scheme for credit cards, the transaction amount is blocked against the credit limit. The Axis Bank credit card EMI limit is only released when you pay off the EMIs.
• Increased Credit Utilization: Customers who continue regularly using their card will use more of their credit limit, resulting in an increase in their Credit Utilisation Ratio and a reduction in their credit score.

Before you avail of the Axis Bank Credit Card EMI options, you must remember the things mentioned below:

• Not Every Card is Eligible: As per Axis Bank credit card EMI terms, not every Axis Bank Credit Card offers the facility to convert purchases into EMIs. You must verify with the bank if your card comes with this option.
• EMI Processing is Negotiable: Very often, banks offer processing fee waivers during promotional offers or festive seasons. You can look out for an Axis Bank credit card no-cost EMI offer to make the most out of this facility.
• Opt for Online Purchases: It is more beneficial to opt for online purchases when availing of the EMI facility. 
• Make Full Payments: Make timely EMI payments in full, to avoid late payment charges and low credit scores.
• Axis Bank Credit Card EMI calculator: You can use the Axis Bank credit card EMI calculator to calculate EMI and interest instantly. This calculator helps you manage your outstanding credit card bill better.
• Due Amount Status: The due amount is displayed on your Axis Bank credit card EMI statement.

Following are the charges associated with the Axis Bank credit card EMI conversion facility:

You can select the option of credit card payments to the EMI conversion facility at the time of purchase. However, the card provider will assess a few factors (such as your credit score, existing loans, repayment history, etc.) before approving your request.

Customers can reach out to Axis Bank Credit Card EMI customer care number at 1860 419 5555 or 1860 500 5555 to convert their purchases into EMIs.