What is Smart EMI in HDFC Credit Card?

Smart EMI is a way through which you can convert your credit card payment into EMIs to be paid over a flexible period at reduced interest rates. I availed of this service when I went on a trip. I have shared a detailed answer below to help you understand about the Smart EMI HDFC credit card. 

What is the HDFC Bank Credit Card Smart EMI?

The smart EMI option is a helpful way to save on credit card repayments. Under this scheme launched by HDFC Bank, you can convert your outstanding balance into smart EMIs and enjoy a flexible repayment period between 6 to 24 months. Moreover, the principal amount to be paid comes with a relaxed interest rate. 

Aahana has already stated the purchases where this is applicable, so let me share the process to check your eligibility for smart EMI. You can check the eligibility through the following means:

1. The HDFC Bank’s 24x7 PhoneBanking service will be there to assist you in sharing the steps you need to take,

2. A straightforward process is to log into your net banking account and the eligibility by going into the Cards section. There, select Credit Cards and then Transact. After this, you will have to click the option of SMART EMI.

You must note that when you convert the balance into smart EMI, a processing fee of 499 rupees (excluding GST) will be charged. Also, a transaction which was made 60 days ago cannot be converted into smart EMI.

That’s all I have to share with you regarding the smart EMI option in HDFC credit card. Have a good day.

Hey,

If you want to buy something expensive, you can take it on your credit card. A credit card will give you credit that can be paid back over the span of the next few months. I have an HDFC credit card which allows HDFC Credit Card smart EMI option. I will share details about the conversion right here. 

. 

What is smart EMI in HDFC credit card?

It is an option that is eligible for HDFC credit card holders that allows the EMI to be converted into stress-free repayment schemes. It is called smart EMI because the principal amount can be paid with low-interest rates. You can repay it over a span of 9 to 36 months. 

From what I know the HDFC Credit Card EMI interest rate can be around 18% (post-purchase) or 15% (point of sale). The credit loan is pre-approved, this means that no documentation is required.

• All HDFC credit card holders are eligible for the same. 

• Purchase of gold or jewellery is not eligible for conversion into EMIs.

• The transaction that have been done 60 days ago cannot be converted

Purchasing the following material will make you eligible for the EMI.

• Medical

• Petrol

• Insurance 

• Utility

• Groceries

• Apparel

• Education

• Electronics

• Travel 

I hope my answer about HDFC credit card smart EMI has cleared your doubt.

Read more :