If you want to pay the bill from the Credit Card by EMI between lockdown and corona transition then it means that your loan period will last longer. For those customers who cannot pay the credit card bill at once, the option of EMI is better. If you start EMI and pay the installments on time, then you do not have to pay any separate interest rate for this. The same, if you want to convert the credit card bill into EMI, then for this you can go to the bank's website and choose the credit EMI option, if you want, you can also talk to EMI by calling customer care.
For your information, let us tell you that if you pay the full amount of the bill before the due date, then you will not have to pay any interest. However, if you convert the amount to EMI, you will have to pay the bill amount along with the interest. When you convert the outstanding credit card balance to EMI, divide your credit card bill in fixed installments or small EMI. Go, which is paid for a fixed number of months.
Also, this interest rate may differ from one card issuer to another. Generally, the interest rate is linked to the tenure of your loan, the longer the tenure, the higher the interest. Normally a period of six months to two years is offered by the bill or card issuer to convert the bill into EMI. Similarly, some banks or credit card issuers do not charge any processing fees. However, some banks may charge an advance loan processing fee. This charge varies from bank to bank and usually 3 percent of your bill amount (converted to EMI) or depending on your card and bill or loan amount.
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