1. What is EMI Conversion?

EMI (Equated Monthly Installment) conversion allows HDFC credit card holders to convert their outstanding bill into monthly installments with interest. This helps manage large expenses by spreading payments over time.

2. How EMI Calculation Works

The calculator uses the standard EMI formula:

Where:

• \( P \) — Principal amount (outstanding bill)
• \( R \) — Monthly interest rate (APR/12)
• \( N \) — Loan tenure in months
• \( EMI \) — Equated monthly installment

Example: For ₹50,000 at 36% APR for 6 months, monthly interest rate is 3% (36%/12), EMI would be ₹9,245.47.

3. Benefits of Converting to EMI

Advantages: Avoids late payment fees, manages cash flow better, fixed repayment schedule, and maintains credit score by ensuring timely payments.

4. Using the Calculator

Instructions: Enter your outstanding bill amount, HDFC's current APR for EMI conversion (typically 24-36%), and desired tenure (3-24 months). The calculator will show your monthly EMI, total interest, and total repayment amount.

5. Frequently Asked Questions (FAQ)

Q1: What is HDFC's typical APR for EMI conversion?
A: HDFC usually charges 24-36% APR for credit card EMI conversions, depending on the offer and customer profile.

Q2: Are there any processing fees for EMI conversion?
A: HDFC may charge a one-time processing fee (typically 1-2% of principal) plus GST. Check current terms before converting.

Q3: Can I prepay my EMI?
A: Yes, but prepayment charges may apply (usually 2-3% of outstanding principal). Check with HDFC for current policies.

Q4: How does this affect my credit limit?
A: The converted amount is blocked from your available credit limit, which gradually frees up as you make EMI payments.

Q5: Can I convert any transaction to EMI?
A: Most transactions above ₹2,500-5,000 are eligible, but check HDFC's current minimum amount and eligible transaction types.