# What is the interest rate of Icici credit card EMI?

## What is the interest rate of Icici credit card EMI?

ICICI Credit Card EMI – Fees & Charges

Category Amount
Processing Fee 2%
Interest – Post Purchase 15.96% p.a.
Interest – Merchant 13.99% p.a.(May vary across Merchants)

## Which bank has lowest interest rate on credit card EMI?

Credit Card EMI – Fees & Charges

Credit Card Provider Interest Rate Processing Fee
Citibank 24% p.a.* | 13% p.a. onwards** 2.5% of the amount /Min. Rs. 200
HDFC Bank 18% p.a.* | 15% p.a. onwards** 1% of the amount/ Min. Rs. 150
ICICI Bank 15.96% p.a.* | 12.99% p.a. onwards** 2% of the amount
RBL Bank 13% p.a. onwards**

## How can I know my Icici credit card EMI?

Avail this facility using any of the following ways.

1. Through Internet Banking:
2. Through iMobile app:
3. Call our customer care number 1860 120 7777.
4. Give a missed call on 9537667667 from your registered mobile number.
5. Give a missed call on 9537667667 from your registered mobile number.

## How is 6 months EMI calculated?

The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

## Can I pay EMI in advance Icici?

ICICI Bank reserves the right to require the card member to make advance payment of one or more EMIs against grant of the facility, and ICICI Bank shall have the right to adjust the amount of the advance EMIs towards the balance amount of the facility, at its sole discretion.

## Which bank credit card is best for EMI?

Comparison of Credit Card EMI Facility of Different Banks

Banks Interest Rate Applicable (In Per Annum) Minimum Transaction Amount Needed for EMI Conversion (In ₹)
HDFC Bank Starts from 14%
ICICI Bank 13%-15% 3000
Axis Bank 18% 2500
Kotak Mahindra Bank 13.92%-20.04% 2500

## Can we have 2 EMI credit card?

This essentially means that you have converted the transaction (dues) into a loan and have opted to pay it via EMIs over a fixed number of months as chosen. There are two ways you can convert your credit card payments into EMIs….Synopsis.

 ICICI Bank Nil 3% of outstanding principal 15.96% 2%

## Can I convert my credit card bill into EMI?

To convert your bill into EMIs, you need to log in to your Net banking account and opt for the available option(s). Alternatively, you can also call the customer helpline number or visit the branch of the credit card issuer to pay the bill via EMIs.

## What is the interest on 1 lakh loan?

Factors Affecting Personal loan EMI

Loan Tenure 2 years 3 years
EMI amount for loan amount ₹ 1 Lakh at 10.25% ₹ 4,626 ₹ 3,238
Total amount you pay back to the bank including principal and interest ₹ 1.22 Lakh ₹ 1.35 Lakh
Interest you have to pay over loan tenure ₹ 22,436 ₹ 35,476

## Can I close my credit card EMI?

EMI transaction requests, once submitted, cannot be cancelled/modified/reversed until the same have been approved/rejected by the issuing banks of the credit card holders.

## What is EMI levy date?

This is the day on or before which your payment should reach your bank or credit card issuer. Otherwise, they levy late payment fees of Rs 300 or 30 per cent of minimum amount due, whichever is more.

## What is ICICI Credit card EMI facility?

ICICI Bank credit cardholders have the option to pay off a big-ticket purchase in multiple instalments spread over a course of a few months. Details on ICICI credit card EMI facility are given below. ICICI Credit Card EMI Interest Rate for 1 Year ( Post Purchase) – 15.96% p.a. ICICI Credit Card EMI Interest Rate for 1 Year ( Merchant) – 13.99% p.a.

## What is the rate of interest for EMI conversion ICICI Bank?

The rate of interest considered to calculate the EMIs is 13%. What does ICICI Bank charge as pre-closure charges on EMI conversion? When you close your ICICI Bank credit card account before its due date, you will be charged a foreclosure fee (advance EMI interest).

## What is the processing fee for converting ICICI Credit card purchases?

The bank is currently charging zero processing fee for converting credit card purchases into EMIs. The Instant EMI option is not available for some of the ICICI credit cards such as EMI Card, Business Card and Corporate Card.

## What is an ICICI bank card?

“Card” shall mean an ICICI Bank VISA / MasterCard Credit Card issued by ICICI Bank, that is valid and subsisting during the Offer Period (does not include ICICI Bank EMI Card, Corporate Card & Business Card).