Axis Bank Credit Card EMI Conversion

Axis Bank Credit Card EMI

✓ Fast Processing ✓ Great Discounts & Offers ✓ Easy EMI Facility | Apply for Credit Card from RBL Bank now!

Convert Axis Bank Credit Card Bill into EMIs

The Axis bank facilitates their credit cardholders to make lump-sum purchases using credit cards. The bank offers Axis credit card EMI conversion facility to cardholders at a minimal interest rate of 1.5% to avoid exhaustion of their monthly budget. The customers can opt for Axis bank's ‘Hello EMI’ facility at a minimum purchase of ₹2,500 via Axis bank credit card within two months from the purchase date.

Key Highlights of Axis Bank Credit Card EMI

Key highlights of Axis credit card EMI facility are -

  • The zero Cost EMI option available.

  • Flexible repayment tenure to choose from, starting 6 months to 24 months.

  • Axis bank credit card EMI conversion within two months from the purchase date.

  • Minimal Processing charges ₹150 or 1.5% of the purchase amount.

  • The minimum Axis bank credit card bill converted to EMI amount should be ₹2,500.

  • The Axis credit card EMI interest is charged using the reducing balance method.

  • The Axis credit card EMI interest rate for merchants is 14% p.a.

Advantages of Axis Bank Credit Card EMI

Check out the advantages of Axis bank credit card EMI facility -

  • Pay as per Convenience - Axis bank credit card convert to EMI facility allows the cardholders to make lump-sum purchases without exhausting their monthly budget and can repay the bank in small amounts as per their convenience.

  • Zero Cost EMI Option - In case the cardholders make a transaction with Axis partner brands, those transactions can be converted into EMI under the Zero Cost EMI option.

  • Flexible Repayment Tenure - The customers can use the Axis bank credit card EMI conversion calculator to find EMI amounts at different tenures and then select the repayment tenure between 6 months to 24 months.

How to Convert Credit Card Bill to EMI in Axis Bank

To convert Axis bank credit card payment in EMI, refer to the table below -

Axis EMI Conversion Methods

EMI Conversion Procedure

Internet Banking

  • Log into Axis credit card net banking account and go to your credit card transaction history.

  • Select the transaction you wish to convert into EMI by raising a request under the ‘Hello EMI’ facility.

  • Check if it is still eligible for Axis credit card EMI conversion.

  • If the transaction is eligible for EMI conversion, the portal will ask you to select the repayment tenure and specify the interest rate.

  • Click on ‘submit’ to complete the EMI conversion application procedure.

  • The bank will analyse your application and update you on your registered contact details.

Axis Mobile App

  • Sign in to Axis mobile app

  • Select the ‘Credit cards’ option under the ‘Services’ menu.

  • Choose the ‘Convert to EMI’ option and select the transaction you wish to convert under Axis credit card EMI conversion.

  • If the transaction is eligible for EMI conversion, you will be asked to select the repayment tenure. The app will specify the interest rate.

  • Agree to the terms and conditions to complete the EMI conversion application procedure.

  • The bank will analyse your application and update you on your registered contact details.

 

SMS:

  • The cardholders can send an SMS to 5676782 to avail of the Axis credit card EMI facility benefits.

  • Draft an SMS with ‘EMI’ and send it from your registered mobile number.

  • The Axis bank executive will contact you for Axis bank credit card payment into EMI.

  • The executive will require certain transaction details to proceed with your request.

  • To speed up the process, you can use Axis bank credit card payment EMI calculator, processing charges, etc., to check the EMI amounts before placing the request.

  • Once you have made the confirmation on your request to the executive, the bank will proceed with your application.

Customer Care

  • The credit cardholders can call on the Axis credit card customer care number 1860-419-5555 or 1860-500-5555.

  • The executive will require certain transaction details to proceed with your request.

  • To speed up the process, you can use Axis bank credit card payment EMI calculator, processing charges, etc., to check the EMI amounts before placing the request.

  • Once you have made the confirmation on your request to the executive, the bank will proceed with your application.

Axis Bank Credit Card EMI Fees & Charges

Check out the applicable charges on the Axis credit card EMI conversion in the table below -

Category

Charges

Post- Purchase Interest Rate

1.5% on the purchase amount

Merchant Interest Rate

14% p.a

EMI Conversion Processing Charges

₹150 or 1.5% of the purchase amount

Service Tax

18%

Foreclosure Charges

3% of the outstanding amount

Disadvantages of Axis Bank Credit Card EMI

There are some disadvantages of Axis bank credit card EMI facility -

  • Applicable Charges - The cardholder has to pay interest on the transaction amount if they opt for the Axis bank credit card EMI facility. A 1.5% interest is charged apart from the processing fees and taxes. The cardholders will be offered a Zero-Cost EMI option on transactions made with merchant brands.

  • Restricted Usage of Credit Limit - A specific amount from Axis bank's credit card credit limit will be blocked until the completion of repayment tenure.

  • Lower Credit Score - A certain amount of credit limit is blocked until all EMIs are paid off. In such a scenario, if the cardholder has been utilising the remaining credit limit, it will decrease the cardholder's credit score.

Things One Must Know About Axis Bank Credit Card EMI Facility

Before opting for Axis credit card EMI conversion, one must consider the below-mentioned points -

  • The cardholder cannot avail of the benefits of the reward points earned from a transaction that is later converted into EMI.

  • The cardholder cannot withdraw from Axis bank credit card services during the EMI repayment tenure.

  • The requests made by the credit cardholders will be redirected towards the Axis bank primary cardholder

  • Axis bank does not offer Axis credit card EMI conversion facility to its corporate credit cardholders.

  • Foreclosure and Cancellation charges will be levied upon the Axis bank credit cardholder if they wish to settle EMIs before the repayment tenure.

FAQs on Axis Bank Credit Card EMI

  • ✔️What are the ways to convert an Axis bank credit card transaction into EMI?

    The cardholder can opt for online mediums like internet banking and Axis bank mobile app or offline mediums like SMS and customer care services to convert an Axis bank credit card transaction into EMI.

  • ✔️How to calculate the EMI amount before applying for the Axis bank credit card EMI facility?

    The cardholders can use Axis bank credit card EMI conversion calculator online to calculate, check, and compare EMI amounts for various tenure before applying for the Axis bank credit card EMI facility.

  • ✔️Where will my EMI amount payments be reflected?

    The cardholders can check their EMI payments in the billing statement of their Axis bank credit card bill. The statement records all the details regarding the EMI payment.

  • ✔️How can I opt for a Zero-Cost EMI facility for my Axis bank credit card transactions?

    Axis bank offers a Zero-Cost EMI facility only on credit card transactions made with partner brands. Under the Zero-Cost EMI facility, there will be no interest charged on the credit amount.

  • ✔️How long does it take to process my Axis bank credit card EMI conversion facility?

    The bank immediately accepts the request to convert your credit card transaction into EMI; however, the amortization schedule depends on transaction amount, repayment tenure, etc. The cardholder gets a tentative schedule on the registered contact details.

  • ✔️What is an applicable condition for foreclosure charges under Axis bank credit card EMI conversion facility?

    A foreclosure charge of 3% of the outstanding transaction amount will be levied upon the cardholder if the cardholder has started paying the EMIs. The bank does not charge foreclosure charges if the cardholders settle the transaction amount before paying the first EMI amount.