Axis Bank Credit Card EMI Calculator

Cards	Joining Fees
My Zone Credit Card	Rs. 500
Neo Credit Card	Rs. 250 waived upon spends of Rs. 2500 in 45 days
Privilege Credit Card	Rs. 1500 (Nil for Priority Customers only)
Select Credit Card	Rs. 3,000  (NIL for Burgundy)
Pride Platinum Credit Card	NIL
Pride Signature Credit Card	NIL
Buzz Credit Card	Rs. 750
My Zone Easy Credit Card	NIL

Axis Bank allows its customers to convert their credit card transactions into easier and manageable EMIs. A customer can shop as usual and if he/she wants, he/she can request to convert his/her larger transactions into EMIs.

This helps save on the interest amount the customer would have to pay if he/she has paid the credit card minimum. The customer would still be paying interest on the EMI, but the overall payment is much lesser.At the end of the billing cycle, the customer has to pay his/her EMI and the credit card minimum amount. This method is very useful when one is planning to make a major purchase and would like to get it paid off within a couple of months.

To help one decide on his/her credit card EMI conversion decision, Axis Bank has built an EMI calculator. In the calculator, one can enter his/her transaction amount, preferred tenure over which one would be repaying the EMI amount and the interest rate is shown.

The calculator then will return the details of EMI payments with interest and fees. One would be given a complete breakdown of the payment schedule of his/her EMIs. The calculator also shows a graphical representation of the repayments. The minimum amount for EMI conversion is Rs. 2,500 and the minimum tenure period is 6 months. Axis Bank allows this feature to be applied within 60 days of making the transaction.

The EMI payment will also include a processing fee and taxes as per government rules, besides the interest rate.

Axis Banks charges the following fee and interest rate when one plans to take advantage of Axis Bank Credit Card EMI Conversion feature:

• Interest rate is calculated on reducing basis at 1.5%
• Tenure options are 6,9,12,18 and 24 months
• Processing fee of Rs. 150
• Service tax on interest
• Service tax on processing fee

For example, if a customer wants to convert an amount of Rs. 2,500 into EMI payments over a period of 6 months, the breakdown of the payment would be like this.

Loan Amount	Rs. 2,500
Total interest	Rs. 160
Processing Fee	Rs. 150
ST on interest	Rs. 29
ST on PF	Rs. 27
Total EMI payment	Rs. 2,866

If one would like to see how an amount of Rs. 1,000 would look like over different tenure periods, then the interest amount would look like the following over different tenures:

Tenure	EMI
6 months	Rs. 175.53
9 months	Rs. 119.68
12 months	Rs. 91.67
18 months	Rs. 63.8
24 months	Rs. 49.9

Once the transaction of one’s choice has completed 60 days, one can opt to pay it off on EMI basis. There are three major ways through which one can avail of this feature – internet banking, mobile app, SMS and customer care number.

Internet Banking

• One has to login to his/her Axis Bank internet banking account using customer id and password
• From under the credit cards section, choose credit card and check the transaction history
• Select the transaction, which one wants to convert to EMI and choose the tenure. The rate of interest and other terms and conditions that will be applicable on one’s conversion will be displayed here.
• Once the request has been made, a confirmation SMS will be sent to his/her registered mobile number.

Mobile App

• Download the Axis Bank mobile app
• Login using the customer ID and password
• Go to the credit cards section and choose the credit card
• Go to the transaction history and view the transaction eligible for EMI
• Select the transaction which one would like to convert into EMI
• One will be shown the interest rate applicable on his/her transaction and other terms and conditions regarding the conversion
• Once the customer has confirmed the request, a confirmation message will be sent to his/her registered mobile number and email id.

Customer Care number

• One can choose to call into the Axis Bank customer care number and put in his/her request over the phone. One can talk to a customer service agent and get all the doubts and queries resolved. One will be guided through the entire conversion process. One must provide his/her credit card number to the customer care agent when asked.
• Customer Care Number: 1860 500 5555 or 1860 419 5555

SMS

• One can also send an SMS code to a dedicated number of Axis Bank to avail this feature. One will receive a call back from a customer care executive who will guide him/her through the process. The SMS code is ‘EMI’ which is to be sent to 5676782. Be sure to have the credit card number when one receives a call from the bank executive.

Features:

• This feature is not applicable to corporate card transactions
• It is not available for customers using flexi payment option
• The billing cycle of the EMI will be the same as one’s credit card billing cycle
• EMI amount is added onto the minimum credit card amount and is to be paid on the due date
• GST and service taxes are charged as per government rules and regulations
• Foreclosure charges will be levied if customer chooses to close EMI before the end of the tenure. 3% rate of interest or Rs. 300 whichever is higher will be charged as foreclosure charges
• Bank can choose to reject credit card transaction to EMI conversion request by customers if they want to
• The credit card cannot be closed during the tenure of the EMI payments

What is the minimum transaction amount to be eligible for credit card EMI conversion?
The minimum amount that is eligible for EMI conversion is Rs. 2,500

What are the tenure options available?
Credit card EMI conversion is applicable for tenures of 6, 9, 12, 18 and 24 months.

What will be the billing date for my EMI payment?
The billing date will be the same as your credit card billing payment date.

How old should the transaction be?
The transaction to be converted into EMI should be 60 days old.

How can I opt for this feature?
You can choose to opt for this feature through internet banking, mobile app, SMS and customer care number.

Is processing fee charged?
Yes, processing fee of Rs. 150 is charged on the EMIs.

What transactions are not eligible for EMI conversion?
Any transaction that involves the purchase of gold, jewelry and transactions involving cash withdrawals, balance transfers and fees are not eligible for EMI conversion.

What is the foreclosure charge if I chose to foreclose the EMI payment before tenure?
Foreclosure charge of 3% or Rs. 300, whichever is higher, is charged on foreclosure.

Please Note: Axis Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.