YES Bank Credit Card EMI

YES Bank Credit Card EMI facility provides the following features:

• In the context of this facility, the minimum amount of transaction available is Rs. 2,500
• Not required to submit any documents
• 12% to 15% per annum interest rates are charged
• The cardholder can select the tenure of the loan from the available option, i.e. 3, 6, 9, 12, 18 and 24 months when the request for EMI has been placed. Charge slip mentions the loan tenure that the cardholder selects. Once the selection has been made it cannot be altered at a later stage
• Cardholders earn reward points on converted EMI transactions
• YES Bank charges no processing fee on ‘Instant EMI’. 2% of transaction value is charged on ‘EMI on Call’ facility as processing fee
• Bank does not allow EMI on transaction related to fuel, gold, jewellery and other selected categories under the guidelines and internal policy of YES Bank

The following steps must be taken in order to convert YES Bank Credit Card Purchases into EMI:

The process to avail Instant EMI is as follows:

For Purchases at a Retail Store:

Simply ask for Instant EMI at the payment counter before making the payment

For Purchase at Online Partner:

Simply select EMI option while making the payment on partner’s app/website

The process to avail EMI on Call is as follows:

YES First Credit Cards

• 1800 103 6000 (Toll-Free for Mobile and Landlines in India)
• 91 22 4935 0000 (When Calling from Outside India)

YES Prosperity Credit Cards

• 1800 103 1212 (Toll-Free for Mobile and Landlines in India)
• +91 22 4935 0000 (When Calling from Outside India)

When converting YES Bank credit card purchases into EMI, the cardholder should remember the following points:

• To avail the EMI facility the proper YES Bank Credit Card should be produced by the cardholder. Cardholder must be aware of the terms and conditions of the EMI payment
• The cardholder’s spending capacity becomes limited with EMI purchases
• Once the cardholder chooses to make payment through EMI, must ensure that the dues are cleared at the end of the month
• The EMI on Call request will not get processed if there has been a reversal of the transaction or a chargeback dispute towards the said purchase transaction prior to processing of the request

The EMI is calculated by adding the monthly amount due to interest and service charges. The current interest rate varies from 12% to 15% per annum i.e. 1% to 1.25% per month. As the cardholder chooses, payment can be made in instalments of 3, 6, 9, 12, 18 and 24 months. 18% GST is applicable on interest amount, processing fee and foreclosure fee.

What happens if EMI is cancelled?
If a transaction so converted to EMI is cancelled by a cardholder, the cardholder must contact a customer service YES TOUCH number which is 24*7 available whose number is mentioned on the back of the credit card. The cardholder has to do the same in the event of a partial or full refund of the EMI facility.

What about the credit limit of the credit card during the conversion of transaction amount into EMI?
The EMI on Call facility will block the credit limit on the cardholders’ credit card to a maximum amount of the facility availed which includes GST and the applicable charges. Till the payment has been made in full the credit limit of the card shall be reduced accordingly.

Can cardholder avail EMI facility from the Add-on credit card?
Add-on cardholders can avail the EMI facility but all requests will be billed to the primary card of Instant EMI. Add-on and primary cardholders both will be jointly liable for the transaction and for the use of this facility.

Can cardholder shift from one EMI plan to another?
YES Bank shall not entertain the request of the shift from one EMI scheme to another.