How to convert Axis Bank credit card transactions into EMI? A step-by-step guide | Mint

Obtaining a credit card from a financial institution is an extremely easy process. This is because of the fact that credit cards, personal loans etc., are all credit instruments. They open up a line of credit and the borrower needs to repay consistently to avoid hefty interest charges later on.

Keeping the same in mind, Axis Bank, one of India’s leading banks provides its customers the opportunity to convert Axis Bank credit card transactions into equated monthly installments (EMIs). This helps the Axis Bank credit card holders flexibility in repayment and hence managing larger purchases effectively.

This simple concept facilitates customers to reduce their financial burden and keep things in order without falling behind in the dangerous trap of debt and high interest rates. That is why this write-up is dedicated towards discussing the step-by-step guidelines on how you can convert your Axis Bank credit card transactions into EMI:

Basic understanding of the EMI conversion process

Axis Bank provides for an EMI conversion facility for all transactions of ₹2500 or more. This allows the Axis Bank credit card holders to spread payments and reduce financial burden. The tenure for repayment provides for a range from 6 to 48 months.

Further, the interest rates for this service are typically set at 1.5% per month. Thus making it a cost effective alternative to standard credit card repayments.

Still in their own interest Axis Bank credit card holders are advised to reach out to the official website: https://www.axisbank.com/ of the bank and its designated customer service team for further updates and developments on interest rates, tenures along with related issues because these terms and conditions are bound to change as per the policies and directions of Axis Bank.

Note: The interest rates, tenures, transaction limits discussed here are indicative only. Reach out to the official website of the Axis Bank for the most recent updates.

Below is how to convert Axis Bank credit card transactions into EMI:

1. Check your eligibility: The first step in this particular case is to ensure that your transaction amount is ₹2500 or above. It should also have been completed within the last 30 days. Now, such transactions can be transformed and converted into EMIs through numerous channels.
2. Choose the method best suited for you: You can convert your transaction through the following ways:
   • Axis bank mobile application: Log in and navigate to the credit card section, opt for the transaction carefully, and choose ‘Convert to EMI’. Follow the directions from there on to clearly select your preferred tenure.
   • Digitally through internet banking: Log in and enter into your internet banking account online. Click on the ‘Credit Cards’ section, select the desired transaction, and initiate the EMI conversion process after following the steps as given on the platform.
   • Reaching out to customer care: You can call Axis Bank’s customer service at 1860-500-5555 or 1860-419-5555. Discuss your queries with them. Then provide your credit card details upon request and go ahead with the conversion. Do note, the numbers mentioned here are only for indicative purposes. Reach out to the official website of the bank for complete details and the most recent updates on the numbers, emails etc. As these details are open for changes and amendments as per the policies of the bank.
3. Check and confirm details: This is another very important step, do carefully review the interest rate, monthly instalment amount and any processing fee displayed during the entire conversion process. Only post the same, confirm your selection to complete the transaction smoothly.
4. Check SMS, email confirmation: Once your request is processed you will receive an SMS and an email confirmation on your registered email. This message will contain the details of your EMI schedule. You need to carefully go through it and ensure that there are no discrepancies in it.
5. Raising doubts and getting clarifications: Now, if you find any issues with the EMI conversion amount, interest rate, processing charges etc., then reach out to the official customer support team of the bank for a swift resolution. So that all doubts can be resolved in a seamless fashion.

What are the benefits of EMI conversion?

Converting transactions into EMIs offers immense advantages:

• Easier and flexible repayment: This provides for an easier tenure as per your financial health and helps in easing out the repayment burden.
• Charging of lower interest rates: Now the interest rates charged on EMIs are generally lower than standard credit card interest rates. Thus acting as an added bonus for borrowers.
• Management of large purchases: This method helps in assisting and managing large purchases by systematically breaking them down into smaller payments.

Conclusion

Therefore, the Axis Bank credit card EMI conversion facility simplifies the managing of expenses for borrowers. This is done by helping them convert their purchases and expenses into small manageable installments.

This simple exercise of EMI conversion can be availed through various platforms as discussed above. Card holders can take advantage of this feature to enhance their economic planning and financial wellbeing.

Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.