Citi Credit Card EMI Interest Rate

Citi Credit Card EMI

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Citi Card EMI

Citi Credit Cards offer a lot of benefits, one of the most popular ones is that it allows you to convert the big purchases into easy and pocket-friendly EMIs. Citibank offers you the ease of availing EMI facility not for one or two, but for up to 10 eligible purchases. You can easily convert any expenses above ₹ 2,500, before the due date, into flexible monthly instalments.

Under the EMI program, you can avail two types of EMI-

  1. Convert the outstanding credit on your Citi Credit Card into EMI Using Citi FlexiBill

  2. Convert the purchases on your credit card into EMI using Citi PayLite

Here are some important details that you need to know about the Citi EMI Program

  • You can convert your last statement balance MINUS the minimum due amount of the last statement balance into EMIs

  • You can easily avail this scheme through CitiBank Online Banking

  • ₹ 300 or 2.5% of the loan amount is levied as a one-time fee

  • You can opt for No Cost EMI

  • The loan can be pre-closed at any time

How to Convert Citi Credit Card Bill to EMI?

You can convert CitiBank credit card bill to EMI using any of the three methods-

  1. Through Citi Net Banking Service

  2. Through Citi Mobile App

  3. Through Citi Credit Card Customer Care

1) Through Citi Net Banking Service

Once you have checked your eligibility and using the Citi credit card EMI calculator to assess the EMI amount you will be charged on your Citi card bill, you can proceed to avail the service by following the below-mentioned steps-

  • Step 1: Visit the Citi Online Banking portal

  • Step 2: Login using your credentials

  • Step 3: View your expenses and check which transactions are eligible for EMI conversion

  • Step 4: Choose the EMI tenure

  • Step 5: Click on ‘Submit’

Your purchase would be converted into easy EMI.

2) Through Citi Mobile App

You can avail Citi credit card EMI using the Citi Mobile App by following the steps mentioned below-

  • Download the Citi Mobile App from Google Play or App Store

  • Choose the ‘Convert credit card transactions into EMI’ option and check for transactions that are eligible for EMI conversion

  • Select the purchase amount you wish to convert into EMI

  • Choose the EMI tenure

  • Click on ‘Submit’

Your purchase would be converted into easy EMI.

3) Through CitiPhone

You can also call the Citi Bank customer care helpline on 1860-210-2484 (for callers from across India) or +91 22 4955 2484 (for callers from outside India) from your registered mobile number, any day and at any time, and request the conversion of your expenses into EMI. A CitiBank representative will guide you through the process.

Key Aspects Regarding the Citi EMI Program

Citi FlexiBill- Here is everything you need to know about converting the outstanding credit on your Citi Credit Card into EMI using Citi FlexiBill

Minimum Amount

₹ 2,500

Interest Rate

The Citi credit card EMI interest rate is communicated to you by the bank when you avail the service.

Tenures

6, 12, 24, 36 or 48 months

Closure

No lock-in period, the loan can be pre-closed at any time by calling the 24-hour CitiPhone helpline

Eligibility

Citi credit card holder, no paperwork required

Fees & Charges

Transaction Fee- 2.5% of the amount converted or ₹ 300 (whichever is higher)

Goods and Services Tax- GST charged as notified by the Government of India

Pre-closure charges- 3% on unpaid principal + relevant taxes

Citi PayLite- Here is everything you need to know about converting the purchases on your credit card into EMI using Citi PayLite

Minimum Amount

₹ 2,500

Interest Rate

The Citi credit card EMI interest rate is communicated to you by the bank when you avail the service.

Tenures

6, 12, 24, 36 or 48 months

Closure

No lock-in period, the loan can be pre-closed at any time by calling the 24-hour CitiPhone helpline

Eligibility

Citi credit card holder, no paperwork required

Fees & Charges

Transaction Fee- 2.5% of amount converted or ₹ 200 (whichever higher)

Goods and Services Tax- GST charged as notified by the Government of India

Pre-closure charges- 3% on unpaid principal + relevant taxes

Benefits of Paying Citi Credit Card Bill Using EMI

The benefits of the Citi Credit card EMI facility are as follows-

  1. EMI lets you buy products that cannot be covered by your bank balance without having to think too much

  2. If you have overspent on your Citi credit card which has left you in debt with high-interest rates, opting for EMI on your card balance can lower the rate of interest

  3. The EMI option will help you from defaulting by keeping the payments manageable and by preventing your CIBIL score from going down.

  4. There is no need to submit a separate application or produce a set of documents.

Drawbacks of Paying Citi Credit Card Bill Using EMI

While paying your CitiBank Credit Card Bill using EMI may seem to be an attractive option, keep the following points in mind.

  1. Decreased Credit Limit: The first drawback is that when you opt for Citi credit card EMI BillPay, the bank blocks away the amount equal to the purchase value availed on EMI on your credit card. This reduces the available credit card limit.
    However, such a block is only temporary, and your credit limit will increase again each month by the value of the EMIs you pay back.

  2. There is a Fee: When you make use of the conversion facility, it will cost you. You will be levied a processing fee and there would be interest rate charges, based on the loan amount.

  3. Your Credit Utilisation will Increase: The conversion will decrease your credit limit and thus when you make a new purchase it will take up the leftover credit. Using more credit may impact your credit score negatively.

Frequently Asked Questions about Citi Credit Card EMI

  • ✔️What is Citi PayLite?

    Citi PayLite is a special program that allows you to convert your purchases or credit card bill that is above ₹ 2,500 into easy monthly instalments.

  • ✔️Can we convert the Citi credit card to EMI?

    Yes, you can convert your Citi credit card bill to EMI as long as the transaction amount is ₹ 2500 or above.

  • ✔️How does EMI work on Citi Credit Cards?

    EMI lets you buy products that cannot be covered by your bank balance and lets you pay back the money in equated monthly instalments over a tenure. It also helps you reduce the credit card interest rate in case you have overspent on your credit card.

  • ✔️How can I check my Citibank Credit card EMI?

    To check the EMI, you can use the Citi card EMI calculator. You simply need to put in the amount that you wish to convert and select an appropriate repayment plan. The calculator will give a fair estimate of the EMI that you would have to pay for the tenure that you have selected.