New Delhi. If you are an HDFC credit card customer, then this news is of your use. HDFC credit card customers can convert their bill into EMI online. Converting credit card balance into EMI means converting it into a loan, where you have to pay interest on your outstanding loan. This facility is offered on most HDFC credit cards through the Smart HDI platform. With SmartEMI facility, you can convert HDFC credit card bill into EMI. However, there are some conditions that you have to fulfill for this. Secondly, as soon as you select SmartEMI, your credit limit gets blocked. Let us know the process to convert HDFC credit card bill into EMI.
Which outstanding cannot be converted into EMI
The purchase of gold or any jewelery with a credit card cannot be converted into EMI. Apart from this, even those transactions which have been 60 days or more cannot be converted into EMI. To apply for this scheme, first check your credit card eligibility. You can check eligibility through NetBanking or PhoneBanking. The advantage of this scheme is that you can pay your large amount bills little by little.
How to check eligibility
Log in to HDFC Bank NetBanking Account. Click on the Cards tab. After that select Transact in Credit Card and choose your specific card. An inventory of your credit card transactions for SmartEMI will be displayed with an option to ‘click’ to check eligibility. Now select the ‘Click’ option to convert a particular transaction into EMI.
Here is the next process
You will see detailed transaction details including card number, maximum spending limit, loan amount, interest rate and tenure. From here you can choose the tenure that best suits your repayment schedule. The interest rate will be determined based on your eligibility and when you click on the time period, the interest rate will be displayed. Confirm the terms and conditions by selecting Submit. After this you will see the final details of loan details.
Will get the message
On confirming the transaction, you will get a message containing the loan number referred to. By doing this your loan will be processed and approved. You have successfully converted HDFC credit card bill into EMI online. With HDFC Bank NetBanking, you can choose to convert your outstanding unbilled amount to SmartEMI. Select the PhoneBanking process to convert your billed amount into EMI.
Here is the phonebanking process
You can convert your billed credit card amount into EMI with HDFC through PhoneBanking. Talk to the customer care of your city. Then inquire about the interest rate, available amount and repayment tenure from them. After confirmation, your loan will be approved instantly without any documentation.
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