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 HDFC credit cards, EMI options allow you to convert large purchases into manageable monthly payments.

2. How EMI Calculation Works

The calculator uses the standard EMI formula:

Where:

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

Example: For ₹50,000 at 36% APR for 6 months, monthly rate is 3% (0.03), EMI would be ₹9,168.00.

3. HDFC Credit Card EMI Features

Details: HDFC Bank offers flexible EMI options on credit card purchases with tenure ranging from 3-24 months. Interest rates vary based on product category and promotional offers.

4. Using the Calculator

Tips: Enter principal amount in INR, annual percentage rate (APR), and loan tenure in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum amount for HDFC credit card EMI?
A: Typically ₹2,500 or ₹5,000 minimum, depending on the merchant and offer.

Q2: Are there processing fees for EMI conversion?
A: HDFC may charge a one-time processing fee (usually 1-2% of principal) for EMI conversion.

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

Q4: How does EMI affect credit limit?
A: The EMI amount blocks your credit limit, which gets released gradually with each payment.

Q5: What's the maximum tenure for HDFC credit card EMI?
A: Normally up to 24 months, though some special offers may extend to 36 months.