Central Bank Credit Card EMI

The EMI facility of Central Bank of India has the following features:

• EMI facility on Central Bank of India is an easy and simple process
• No documents need to be submitted
• Interest rates are low
• Central Bank of India credit card EMI facility can be availed only on online merchants and that too with those service providers who are tied up with the bank
• The minimum transaction amount available in this facility is Rs. 3,000
• EMI facility duration and interest are as follows:

Duration	Interest rates per annum
3 Months	13%
6 Months	13%
9 Months	14%
12 Months	14%

All the credit cards of Central Bank of India support the EMI facility:

• Visa Platinum Credit Card
• Visa Aspire Credit Card
• Titanium Credit Card
• RuPay Platinum Credit Card
• RuPay Select Credit Card
• MasterCard World Credit Card

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

To convert Central Bank of India credit card purchases into EMI, it is essential to take the following steps:

• Customers select any product worth Rs. 3,000 or more and proceed for payment at the selected merchant’s website
• Now that customer has clicked on the pay now, click on ‘Credit Cards EMI’ as the option for making payment
• As soon as the credit card has been selected for the payment options then the customer can straight away choose Central Bank of India for an EMI option
• After the selection of bank has been made a screen will display the EMI amount for the payback period of 3/6/9/12 months and plus the applicable interest rates for that period
• The cardholder has to choose any one of the EMI plans in order to complete the procedure and lastly click on ‘make payment’

When converting purchase made through Central Bank Credit Card into EMI, cardholders should remember the following points:

• The terms and conditions of the EMI facility must be known to the cardholders
• Purchases through EMI facility lowers the cardholder’s spending capacity
• The cardholder who opts for payment through EMI must ensure that the dues at the end of each month are going to be cleared

The EMI shall be calculated by adding the monthly amount due along with interest and service charges. The current interest rate is 13% and 14% per annum depending on the duration of EMI. Payments can be made in installments of 3/6/9/12 months as the cardholder chooses. 18% of GST will be applied to the interest amount.

What is an EMI?
EMI stands for Equated Monthly Instalment. This is the fixed amount to be paid on a monthly basis by the borrower. This helps to clear the debt on an installment basis.

Can cardholder shift from one EMI plan to another?
The cardholder cannot shift from one EMI plan to another. So, the cardholder must think before choosing the appropriate plan. In order to give less interest, the cardholder must select the shorter time-period.

What about credit card limit when transaction amounts are converted into EMI?
Central Bank of India will block the credit card’s limit to the extent of the purchase made and releases it when EMIs are repaid. For example: If a purchase of Rs. 25,000 is made on a 3-month EMI and the credit limit of the card is Rs. 1 lakh then the credit limit of Rs. 25,000 will be blocked by the bank. So, the available credit limit is Rs. 75,000 for a period of 3 months.

How can cardholder reach bank to know more about EMI facility on its credit card?
The cardholder can call at the customer service number: 1800 222 368/ 022-66387737/66387743 or can also visit the nearest branch of the Central Bank of India.