Which Bank’s Credit Card EMI Conversion Facility is Better?


  • Convert your big ticket credit card purchase into EMI to make it a grand festive season for you
  • Compare, analyze and choose from a list of credit card EMIs at Wishfin

It’s credit cards that are being used more often than not to buy mobiles, clothes and other accessories be it online or offline. To make it more appealing for cardholders, credit card issuers have various EMI plans to help buy the product and pay for the same in easy installments. There are many banks that provide the facility of converting credit card purchase into Equated Monthly Installment (EMI). That only makes for an exciting comparison between the different EMI offers.

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Comparison of Credit Card EMI Facility of Different Banks

Let’s check out the table showing the comparison of credit card EMI offers of different banks.

BanksInterest Rate Applicable (In Per Annum)Minimum Transaction Amount Needed for EMI Conversion (In ₹)Processing Fee (In ₹)Pre-closure Charges (In ₹)Tenure
State Bank of India (SBI)22%, or as per the offers5002% of the purchase amount, subject to a minimum and maximum of ₹199 and ₹1,000, respectively3% of the principal outstanding6-24 months
American ExpressStarts from 14.04% 50002% of the purchase amountNIL
HDFC BankStarts from 14%--3% of the principal outstanding9-36 months
ICICI Bank13%-15%3000NIL-3-24 Months
Axis Bank18%25001.5% of the purchase amount or ₹150, whichever is more3% of the principal outstanding6-24 Months
Kotak Mahindra Bank13.92%-20.04%2500NIL-35 per ThousandNIL3-48 Months
YES Bank12%-15%2500NIL2% of the principal outstanding3-24 Months
IndusInd BankAs Applicable2000As ApplicableAs Applicable6-24 Months
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Conversion Process of Credit Card Purchase into EMI at Different Banks

When you shop online, you can find the option of credit card EMI. Availing it will help convert the transaction into installments for the period you choose. At the same time, you can convert the purchase into EMI even after the transaction was executed. However, the gap between the date of purchase and request date of EMI conversion is specific across the banks. So, keep in mind the same. Meanwhile, you can check out the conversion process of the banks one after another.


There are three ways by which you can convert the purchase made via SBI credit cards into EMIs.

  • Login to SBI card online account
  • A dial to 39020202 or 18601801290 for BSNL or MTNL subscribers
  • SMS FP to 56767

American Express

Purchases made within 21 days can be converted into EMIs by the following three ways at American Express.

  • An e-mail to [email protected]
  • A dial to the 24×7 customer care number – 18004191414
  • Type EMI from your registered mobile number and send it to 5616166


At HDFC, there’s smartEMI by which the card purchases made within 60 days can be converted into installments. To trace smartEMI, you need to do the following

  • Log in to HDFC net banking
  • Click on ‘Cards’ and then on to ‘Credit Cards’
  • Click on smartEMI
  • Convert the transaction you want to EMI


Choose from several conversion options ranging from internet banking, customer care, etc. Let’s be briefed on the options one after another.

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Internet Banking

  • Login to ICICI Bank internet banking using your credentials
  • Go to ‘Credit Cards’ section and choose ‘Convert to EMI’
  • Select the transaction for conversion into EMI as well as the tenure for which you want to pay in installments


  • Text EMI to 5676766 from your registered mobile number
  • You will receive a call from the bank to honour your request of converting purchase into EMI

Customer Care

Dial the 24×7 toll-free ICICI Bank customer care number – 18001038181 – to convert the purchase into installments.

Missed Call

  • Give a missed call to 9537667667 from your registered mobile number
  • Get the transaction converted into EMIs within 2 working days

Axis Bank

Purchases made by Axis Bank credit card within 60 days can be converted into EMI through the following ways.

  • Log in to Axis Bank internet banking
  • Axis Bank Mobile Application
  • Dial 18604195555 or 18605005555

Kotak Mahindra Bank

Kotak Mahindra Bank enables the conversion of credit card purchases into EMI by the following ways, applicable for 15 days of making a purchase

Internet Banking

  • Log in to Kotak internet banking using your credentials
  • Go to ‘Credit Card’ tab
  • Select ‘Convert to EMI’

Mobile Banking

  • Log in to Kotak mobile banking app using Customer Relationship Number (CRN) and Mobile Personal Identification Number (MPIN)
  • Click on ‘Credit Card’ tab
  • Select ‘Convert to EMI’

Customer Care

Call the 24×7 customer care number – 18602662666 and request for an EMI conversion


Text EMI to 5676788 from your registered mobile number and get the transaction converted into installments.

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YES Bank

A call to YES Bank Customer Care numbers – 18001036000/18001031212 (India), +912249350000 (For those calling from outside India) can help convert credit card transactions into EMIs.

IndusInd Bank

You can request for conversion at the nearest bank branch or customer care. The EMI conversion is applicable for purchases made within 45 days from the request date.

So, compare, analyze and pick your option to make this festive season yours.

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