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Bajaj Finserv RBL Bank Credit Card with EMI Option

To make any big-ticket purchases on your credit card without burdening your wallet, you can easily convert the spends into easy EMIs. This facility helps you to reduce the cost by breaking down the purchase into multiple instalments. RBL Bank offers a simple and smart way to turn your bills into Equated Monthly Instalments (EMIs) with the ‘Split n Pay’ program. If you are a Bajaj Finserv RBL Bank Credit Card holder and want to avail the EMI conversion facility, you must note the following information pertaining to the EMI charges. 

Key Highlights of Bajaj Finserv RBL Bank Credit Card EMI

Bajaj Finserv RBL Bank Credit Card Fees and Charges

Particulars

RBL Bank EMI interest rate

Depends on the T&C applicable to the cardholder

Merchant Interest Rate

Communicated at the time of purchase

Conversion Charges

Decided at the time of application

Pre-closure Charges

Depends on the T&C applicable to the cardholder

Minimum Transaction Amount

Above ₹2,500

Tenure

3 months– 2 years

Disclaimer: Fees and charges are at the discretion of RBL Bank. Please check with the lender before applying.

Eligibility for Converting Bajaj Finserv RBL Bank Credit Card Bill to EMI

To convert Bajaj Finserv RBL Bank Credit Card outstanding into EMI, you must know the eligibility parameters. These are mentioned below:

 

  • Transaction value should be above ₹2,500

  • You cannot opt for an EMI conversion facility for certain types of transactions such as jewellery shopping

Note: You can open the MYCard mobile app and search for the EMI symbol to check if your transaction is eligible.

Benefits of Bajaj Finserv RBL Bank Credit Card EMI Conversion

Convert your purchases with Bajaj Finserv RBL Bank Credit Card into easy and smart EMIs using the ‘Split n Pay’ option. This will allow you to enjoy the following benefits:

1. Flexibility

By availing the EMI option, you can easily break down the payment into smaller and more affordable instalments. Thus, you can avoid paying a huge amount at one go. RBL offers a flexible repayment tenure that can range between 3 months and 2 years.

2. Manage Finances

When you opt for the Bajaj Finserv RBL Bank Credit Card EMI payment option, you can choose to repay your debt over time. Thus, you can start managing your Finances more effectively without overwhelming your monthly budget.

3. Credit History

When you decide to pay your bills via the ‘Split n Pay’ feature, the chances of payment default significantly drop. This gives you enough room to increase your focus on improving your credit score.

How to Apply for a Bajaj Finserv RBL Bank Credit Card EMI

With RBL Bank’s ‘Split n Pay’ feature, you can convert transactions into EMIs. However, you must be mindful of the Bajaj Finserv RBL Bank credit card EMI interest rate before availing of the feature. Furthermore, you can convert your purchases into EMIs offline or online at the time of making the purchase, or after purchasing the product and availing of the ‘Split n Pay’ option.

 

Here is how you can opt for the Bajaj Finserv RBL Bank credit card EMI conversion.

  • EMI Conversion After the Purchase

Once you purchase an item using the ‘Split n Pay’ feature, you can convert the purchase into EMIs through the following methods.

 

1. Through SMS

 

You can type ‘EMI’ and send the text message to 5607011.

 

2. Via Mobile App

 

Alternatively, you can download the RBL MyCard app, and follow these steps.

 

  • Step 1: Sign in to the MyCard application.

  • Step 2: Find and select the ‘Convert Credit Card Transactions into EMI’ option.

  • Step 3: Select the purchases that you can convert into EMI payments.

  • Step 4: Choose your preferred tenure, and tap ‘Confirm’.

3. Contact Customer Service

 

You also have a third option – contacting customer care. Reach out to RBL Bank customer care to enquire about RBL Bank credit card conversion to EMI.

  • EMI Conversion While Making the Payment

You can convert your purchases into monthly instalments while shopping online or at the store by requesting the EMI payment facility when making the payment. In the event that you are shopping online, you must select the ‘Pay with EMI’ option while checking out. However, this facility may not be available for all transactions.

Things to Remember about Bajaj Finserv RBL Bank Credit Card EMI Conversion

Below mentioned are a few essential points that you must keep in mind while opting for the Bajaj Finserv RBL Bank Credit Card EMI conversion facility:

1. Tenure

It is a general notion that in the case of a longer tenure, you always pay a lower EMI. Though it is true, you should also know that by settling for a longer tenure, you will end up paying a higher interest outgo. Hence, this benefit might not be enough to make up for the EMI conversion interest amount on Bajaj Finserv RBL Bank Credit Card.

2. Interest Rate

The interest rates differ from one card to the other; sometimes even the cards from the same banks may offer different interest rate charges. Hence, you must select a Bajaj Finserv RBL Bank Credit Card judiciously to ensure you have enough chances to save on the total cost of borrowing. 

3. Timely payment

If you are opting for an EMI option on Bajaj Finserv RBL Bank Credit Card, it is advisable to make timely payments as it can significantly affect the credit score. Not being able to make timely payment can lead to the levying of credit card interest rates on old as well as new purchases. As a result, you will end up having a significant amount of interest accumulation on your Bajaj Finserv RBL Bank Credit Card.

FAQs on Bajaj Finserv RBL Bank Credit Card EMI Conversion

Using the convenient ‘Split n Pay’ feature, you can easily convert your purchase with Bajaj Finserv RBL Bank Credit Card to an EMI option and pay off your bills in smaller amounts at a pre-decided time.

The EMI interest rate on the Bajaj Finserv RBL Bank Credit Card varies as per the applicable offer and you can get the required information by contacting customer care or visiting the website.

After making an eligible transaction, you can easily convert the purchase into an affordable EMI. For this, you have to use the ‘Split n Pay’ option offered by RBL Bank which will allow you to repay as per your convenience. Please note that you have to pay a low interest rate and processing fee for the service.

The Bajaj Finserv RBL Bank credit card EMI interest rate will be disclosed while availing of the facility. Furthermore, you will know the processing fee at the time of submission of the application form. On the other hand, the GST will be 18% of the interest rate and the processing fees. In the case of EMI foreclosure, you will be charged around 3% of the outstanding principal amount.

 

Yes. You can apply for the Bajaj Finserv RBL Bank credit card EMI conversion via SMS post-purchase by typing ‘EMI’ and sending it to 5607011.

The No Cost EMI option is unavailable with the Bajaj Finserv RBL Bank credit card. However, the Bajaj Finserv RBL Bank credit card EMI payment is possible through the ‘Split n Pay’ facility.

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