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Make Your Payments in EMIs For Better Financial Management
Posted on Thursday, October 26th, 2023 | By IndusInd Bank
Opting for EMI payments encourages savings, provides flexible repayment tenure, and improves your credit scores, empowering you to make informed financial decisions.
Managing your finances can be challenging when you have a lot of significant expenses lined up. Whether you are looking to buy a new home or a car, or invest in higher education, these financial obligations can cause a lot of stress in your life. With rising costs and the desire for a comfortable lifestyle, it is essential to find practical solutions to keep your finances stable. Credit cards prove to be a valuable financial tool in these situations. They allow you to convert your high-value transactions into low-interest EMIs. Keep reading to learn more about the advantages of converting credit card transactions into EMIs, and how they empower you to take charge of your financial well-being.
What Is a Credit Card EMI?
Credit card EMIs offer you a convenient payment option to convert your high-value purchases into smaller, more manageable monthly payments. Instead of paying it all at once, you can choose to spread out the cost into equal monthly instalments over a specified period with a fixed interest rate. This makes expensive purchases more affordable. However, it is crucial to understand the terms associated with EMIs as they may entail some specific conditions and additional charges.
Advantages Of Converting Your Credit Card Transactions into EMIs
| Simplified Repayment Process | Converting your credit card transactions into EMIs is an easy way to manage significant expenses. It reduces the risk of late payments and the stress related to them. |
| Financial Benefits | Opting for EMIs lets you avoid paying the entire amount upfront. Instead, you can allocate the money to your savings account and earn interest on it. |
| Lower Interest Rates | EMIs typically come with lower interest rates compared to standard credit card rates, making them a more financially manageable choice. |
| Flexible Repayment Tenure | You have the flexibility to select your preferred repayment tenure, with options ranging from 3, 6, 9 and 12 months. However, some credit card lenders extend this option for up to 36 months. |
| Improved Credit History | Regular EMI payments reduce the chances of missed payments, gradually improving your credit history over time, which is a critical factor for accessing credit facilities in the future. |
| No-cost EMI Options | Ensure your credit card is linked to merchants offering no-cost EMI options. When using your credit card to shop from these merchants, you can select a no-cost EMI plan with varying repayment options. This allows you to avoid additional charges, and spreads out your payments over time. |
Apply With IndusInd Bank for a Credit Card
IndusInd Bank offers a diverse selection of credit cards, each tailored to your unique financial needs and goals. Applying for a credit card with IndusInd Bank is a hassle-free process that comes with numerous benefits:
- Instant approval in three simple steps
- No physical documentation
- Bonus reward points on milestone spends
- Lifetime fee waiver
- Accumulated reward points with no expiry date
- Redeem and convert reward points into cash for paying credit card dues
- Waiver in fuel surcharges at all petrol stations in India
- Access to free airport lounges at several domestic and international airports
- Save more with attractive cashback deals and offers
Why wait any longer? Apply for a credit card online with IndusInd Bank in three simple steps and receive instant approval! Take control of your financial future today.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
