Axis Bank Credit Card EMI Calculator

EMI Formula:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]

EMI Amount:

Unit Converter ▲

Unit Converter ▼

From:	To:

1. What is EMI?

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. For credit cards, EMI converts your big purchases into smaller monthly payments.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]

Where:

\( P \) — Principal loan amount (INR)
\( R \) — Monthly interest rate (APR/12 as decimal)
\( N \) — Loan tenure in months

Example: For ₹50,000 at 36% APR for 6 months:
R = 36%/12 = 3% = 0.03
EMI = [50000 × 0.03 × (1+0.03)^6] / [(1+0.03)^6 - 1] = ₹9,045.56

3. Understanding Axis Bank Credit Card EMI

Details: Axis Bank offers EMI conversion on credit card purchases with interest rates typically ranging from 12% to 36% APR. The exact rate depends on the product, tenure, and customer profile.

4. Using the Calculator

Tips: Enter the principal amount (purchase value), annual interest rate (check your Axis Bank offer), and tenure in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is Axis Bank's typical credit card EMI rate?
A: Rates vary from 12% to 36% APR depending on tenure and promotion. Check your specific offer details.

Q2: Are there any processing fees for EMI conversion?
A: Axis Bank may charge 1-2% processing fee plus GST on some EMI conversions.

Q3: Can I prepay my EMI?
A: Yes, but prepayment charges may apply (typically 2-3% of outstanding principal).

Q4: How does EMI affect credit limit?
A: Your available credit limit reduces by the principal amount until EMI is fully paid.

Q5: Can I convert existing purchases to EMI?
A: Yes, Axis Bank allows conversion of eligible transactions to EMI within a specified period.