Terms and Conditions

• Transactions of Rs.2,500 and above can be converted to EMI.

• EMI amount will be a part of Minimum Amount Due payable by the cardholder during the EMI tenure.

• Processing fee of 1% of transaction value (Minimum Rs. 99) plus GST will be applicable and billed in the same statement in which the transaction is converted to EMI. Processing fee will be a part of Minimum Amount Due (MAD) in credit card statement.

• Once the EMI tenure has been selected by the Customer, it cannot be changed.

• EMI conversion can be availed across flexible tenures of 3m, 6m, 9m, 12m, 18m, 24m and 36m at attractive interest rate. The tenure options available to the customer will be communicated at the time of conversion.

• Transactions converted to EMI are not eligible for Reward Points.

• Transactions done on Gold & Jewelry are not eligible for EMI conversion. The Bank reserves the right to the EMI facility if it suspects the transaction involves the purchase of gold, jewellery, or similar items, as such conversions are restricted under RBI guidelines.

• Transactions pertaining to Cash withdrawal are not eligible for EMI conversion.

• Interest is calculated on a reducing method basis. For detail please refer repayment schedule shared on the registered email ID after conversion.

• In case of EMI cancellation, foreclosure fee of 3% on the outstanding principle of EMI at the time of foreclosure along with the Pro-Rated Interest will be charged to the customer.

• Pro-Rated interest is the interest amount applicable for period between EMI conversion date and date of foreclosure in case no EMI is billed.
• In case any EMI is billed, pro-rated interest amount will be the interest amount applicable between last EMI billed date and date of foreclosure.

Pro-Rata Interest (%) will be the same as your EMI interest rate as communicated at the time of EMI conversion.

To foreclose the EMI facility, cardholder can login to Mobile App > Go to Credit Cards > Select “Manage EMI” in Quick Action section> Select the EMI you want to foreclose or reach out IDFC Credit Card Contact Center.

• In case of EMI foreclosure, entire outstanding principal will be debited to account and will be due by next due date.

• In case of transaction reversal/cancellation/refund, customer must contact bank for EMI cancellation. Transaction reversal/cancellation/refund does not result in automatic EMI closure.

• EMI has to be foreclosed if cardholder wishes to close the card account during the EMI tenure. In such scenario above statements pertaining to EMI foreclosure will apply.

• In the event only credit card is blocked with customer's account and/or other card remaining active prior to the completion of loan tenure, loan initial interest amount and/or EMI(s) will still continue to be billed in the monthly statement and shall be included as part of minimum amount due.

• Bank reserves the right to foreclose the loan and debit the entire outstanding amount in case customer defaults on two consecutive billing cycles. In such scenario above statements pertaining to EMI foreclosure will apply.

• GST (as per Govt. notification) will be applicable on Interest, Processing Fee and Foreclosure charges and will be billed separately along with respective charges.

• Pre-EMI interest will be charged on this EMI transaction 

• Pre-EMI is a one-time interest charged for the days between your loan disbursal/EMI Conversion and your first statement. Your EMI cycle begins after that.
• Pre- EMI interest will be billed on the upcoming statement date. 
• Regular EMI cycle will start from the statement following your upcoming statement. 
• Pre-EMI interest will be calculated based on EMI interest rate %. 
• Example: For a transaction of Rs. 60,000 converted into EMI at 16% on 10th April 2025 with upcoming statement date of 22nd April 2025.
  

  - Pre-EMI period between the EMI conversion date and statement date = 13 days.

  - Pre- EMI interest charged for 13 days = 60000*16%*(13/360) = Rs.346.67

  - Regular EMIs will start from the statement following your upcoming statement

  - 1st EMI will be billed on 22nd May’25 statement

• EMI facility should be at the sole discretion of the bank and is subject to performance on credit card.

• Any payment made to the Credit Card account over and above the initial interest amount or EMI shall not be deemed to be payment towards the amount availed under EMI facility and shall not be deemed as closure of said facility. In the event of a transaction being partially or fully cancelled/disputed, the EMI facility availed on it will continue, unless a preclosure request is made by the customer.

• The Bank will share credit information with credit bureau, including but not limited to. Instalment loans taken on credit card.

• The terms and conditions contained in the Card Member Agreement will apply over and above the terms and condition of this loan.

• Any disputes pertaining to a forementioned loan shall be subject to exclusive jurisdiction of the courts of Mumbai.