Axis Bank offers a feature called "EMI on Credit Card" that allows you to convert your credit card purchases or outstanding balance into monthly installments. Here's how to do it:
Online/Mobile App Method: Log into Axis Bank's mobile app or website, navigate to the credit card section, and look for "Convert to EMI" or "Credit Cashless EMI" option. Select the transaction or outstanding balance amount you want to convert, choose your preferred tenure (usually 3 to 60 months), and confirm. The EMI will be processed immediately.
Phone Banking: Call Axis Bank's customer service number on the back of your credit card. Provide your card details and the amount you wish to convert into EMI. The representative will process your request and confirm the tenure and EMI amount.
Branch Visit: Visit your nearest Axis Bank branch with your credit card and request the conversion. Staff will assist you in completing the formalities.
Key Points:
- You can typically convert a minimum amount (usually ₹5,000 or more)
- Interest rates vary based on tenure and your credit profile
- The EMI will be deducted from your credit card account each month
- Processing is usually instant or within one business day
- This reduces your credit card utilization and can improve your credit score
- EMI conversions are subject to approval based on your creditworthiness
Check your credit card's terms and conditions, as eligibility criteria and available tenure options may vary based on your card type and relationship with the bank.