How to convert RBL Bank credit card payments into EMIs with flexible tenure and low interest rates | Step-by-step guide | Mint

Did you go overboard with your spending this month and max out your credit card? You don’t have to stress if you are an RBL Bank credit card holder. The bank offers a ‘Split n Pay’ facility that lets you convert your transactions into easy Equated Monthly Installments (EMIs) under its ‘Split n Pay’ facility.This feature allows RBL Bank credit cardholders to handle high-value spending conveniently, avoiding the need for full upfront cash payments.

Ways to convert RBL bank credit card transactions into EMIs

RBL Bank  provides multiple methods for customers to convert their credit card transactions into EMIs:

• Mobile apps to convert into EMI: Customers can use the MyCard Mobile App and MoBank Mobile App to easily convert their transactions into EMIs. These apps allow users to regularly check other associated things such as interest rates, repayment tenures etc. Simply log in, choose the transaction, and follow the instructions.
• WhatsApp facility for EMI conversion: RBL Bank also offers a convenient WhatsApp facility for EMI conversion. Customers can start the process by sending a message and following prompts to complete it.
• Customer care support for EMI conversion: For those who prefer assistance over the phone, RBL Bank’s customer care service helps with EMI conversion. Customers should refer to the bank’s official website for customer care numbers and details.

Flexible tenure options for RBL Bank credit card EMIs

RBL Bank offers flexible tenure options, allowing customers to choose from 3, 6, 9, 12, 18 or 24 months. This flexibility helps RBL Bank credit cardholders manage repayments based on their long-term financial goals and maintain a healthy credit score.

Interest rates for RBL Bank credit card EMIs

The interest rate for RBL Bank credit card EMI buybacks ranges from 12% to 13% per annum, depending on the applicable credit card and transaction amount. Additional processing charges apply, which will be provided at the time of application.

Foreclosure charges on RBL Bank credit card EMI transactions

If a customer opts to prepay the EMI before the end of the tenure, a foreclosure charge of 3% of the outstanding principal amount is applicable. Customers also have an option for flexible repayment tenures, typically ranging from 3 to 24 months. ​

For complete details on prevailing interest rates, foreclosure charges, flexible tenure options etc., it is advisable to check the official RBL Bank website or contact customer support.

This is important as interest rates and policies may change periodically.

Latest offers and discounts on RBL Bank credit card EMIs

RBL Bank frequently offers discounts on services when transactions are converted into EMIs. For instance, customers can avail up to 15% discount on domestic flight booking through select platforms while purchasing through RBL credit cards with the EMI facility. This offer is valid until March 31, 2025, and provides customers with a promotional discount and an EMI facility.

Note: Be aware of the risks associated with credit card usage. Terms and conditions may change, so always refer to the official RBL Bank website for the most up-to-date information.

Conclusion

Therefore, converting RBL Bank credit card payments into EMIs is a simple process that can help credit card holders manage financial burdens effectively. With multiple conversion options, easy repayment plans and competitive interest rates, this facility makes high-value spending possible.

(Note: Using a credit card carries its own set of risks; terms and conditions may change; check the official RBL Bank website for the latest updates.)