With your Axis Bank Credit Card, you can make lump-sum purchases and convert the outstanding balance into easy and affordable EMIs. Your Axis Bank Credit Card EMI will include a minimal interest charge of 1.5% per month or 14% p.a.You can use this EMI conversion facility on minimum spending of ₹2,500 within two months from the purchase date.
Here are the simple ways to make EMI conversions for credit card payments:
Log into your Internet banking account
Go to ‘My Credit Cards’
Select the ‘Convert to EMI’ option
Choose your statement type as current or unbilled
Choose an eligible transaction
Enter all relevant EMI details
Enter your NetSecure code and submit
Log into your banking account through the Axis Bank mobile application
Navigate to the ‘Credit Cards’ tab
Select your transaction type as statement or unbilled
Fill in all required EMI details
Enter your mobile banking PIN
You may use the following phone numbers to contact the Axis Bank customer service base concerning EMI conversion requests:
1800-103-5577 (Toll-free number)
You will receive an SMS once the conversion request has been registered. Typically, the request should get processed immediately and you should receive a confirmation SMS soon.
The Axis Bank Credit Card EMI facility offers several benefits. Here are some of the prominent ones you should know about:
Axis Bank Credit Card conversion to an EMI facility allows you to make lump-sum purchases without exhausting your monthly budget and repay the bank in small amounts as per your convenience.
If you make a transaction with Axis Bank partner brands, those transactions can be converted into EMI under the zero-cost EMI option, depending on the applicability.
You can use the Axis Bank Credit Card EMI conversion calculator to find EMI amounts at different tenors and select a repayment tenor between 6 months to 24 months.
Enjoy competitive interest rates and processing charges when using the EMI facilities. Also, get the monthly reducing balance method to ensure efficient outgo.
Check out the applicable charges on the Axis Bank Credit Card EMI conversion in the table below:
Post-Purchase Interest Rate
1.5% on the purchase amount
EMI Conversion Processing Charges
₹150 or 1.5% of the purchase amount
3% of the outstanding amount
Disclaimer: The credit card EMI conversion specifics provided in the table above are subject to the card issuer’s policies. Check the details on the issuer’s official website before applying.
Before opting for an Axis Bank Credit Card EMI conversion, you must consider the below-mentioned points:
The cardholder cannot use 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 tenor
The requests made by the credit cardholders will be redirected toward the Axis Bank primary cardholder
Axis Bank Credit Card EMI conversion facility is not offered to the bank’s corporate credit cardholders
Foreclosure and cancellation charges will be levied upon the cardholder if they wish to settle EMIs before the repayment tenor
Typically, you will notice that longer tenors come with lower interest rates. This can make them more appealing; however, you may end up paying a larger amount overall. Here’s an example to help you visualise how the Axis Bank Credit Card EMI conversion works:
Let’s assume you have made a purchase of ₹50,000 and have three EMI tenor options available to you.
25% interest p.a. for 3 months
20% interest p.a. for 6 months
15% interest p.a. for 12 months
The different payable interest amounts will be:
As you can see, you will be paying a far higher amount for a longer tenor, even though the interest rate is lower. On the other hand, a shorter tenor will require you to pay higher EMIs.
Hence, the ideal tenor should be chosen based on your repaying capacity. It also helps if you choose an issuer that has a low interest rate, and flexible repayment options. You can find such offers with ease on Bajaj Markets.
Here’s how you can get an Axis Bank Credit Card on Bajaj Markets:
To start the process of applying for this credit card, adhere to these steps:
Click the 'Apply Now' button
Furnish essential details, including your mobile number, date of birth, and profession
Progress by clicking 'Next’
Submit the OTP received via SMS
Provide details such as your PAN Card number, personal email address, residence PIN code, and monthly income
Opt for your preferred Axis Bank Credit Card from the list of available options
Complete the verification stage by entering your employment and personal details
If you cancel your EMI option before paying the first EMI, then you will get a waiver and no foreclosure charges will be applicable. However, if you prepay the loan 30 days after paying the first EMI, a foreclosure charge of 3% will be levied on the outstanding amount.
Cardholders can check their EMI payments in the billing statement of their Axis Bank Credit Card. The statement records all the details regarding the EMI payment.
Axis Bank offers a zero-cost EMI facility only on credit card transactions made with partner brands. Under the Zero-Cost EMI facility, no interest will be charged on the credit amount.
The bank generally accepts the request to convert your credit card transaction into EMI within a few hours; however, the amortisation schedule depends on the transaction amount, repayment tenor, etc. The cardholder gets a tentative schedule on the registered contact details.
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.