Credit Card EMI
Features & Benefits
Flexible Repayment Tenures
Choose a repayment tenure that suits your convenience, ranging from 3 months to 24 months.
No Down Payment
Start repaying your purchases without the burden of making any down payment.
Hassle-free EMI Conversion
Maximum amount that can be converted to EMI is ₹7,50,000 and minimum txn amount is ₹1,500.
Attractive Cashbacks & Instant Discounts
Benefit from attractive cashbacks and instant discounts on select merchants and brands.
Rock bottom processing Fee
Processing fee starting at just ₹99*
At your Fingertips
Convert through FedMobile, Over Call or simply with Instant EMI.
There are two main types of EMI options available on credit cards: Merchant EMI (also known as Instant EMI) and Post Purchase EMI. Merchant EMI is offered at the time of purchase, either online or at physical stores. It’s a seamless process where the transaction is converted into EMI instantly. Post Purchase EMI allows you to convert a regular credit card transaction into EMI after the purchase is completed.
Merchant EMI 🆚 Post Purchase EMI Comparison
| Feature | Merchant EMI (Instant) | Post Purchase EMI |
|---|---|---|
| When to opt-in | At the time of purchase | After the transaction is completed |
| Approval time | Instant | May take 1–2 working days |
| Transaction amount | Maximum amount that can be converted to EMI is ₹7,50,000 and minimum amount is ₹1,500. | Maximum amount that can be converted to EMI is ₹7,50,000 and minimum amount is ₹1,500. |
| Confirmation method | PIN at POS or OTP online | FedMobile PIN or over the call via Contact Centre |
Credit Card EMI Offers
Enjoy Big Purchases with Easy EMIs on Your Federal Bank Credit Card! Turn your high-value spends into affordable monthly installments with Federal Bank’s Credit Card EMI facility. Whether it's electronics, travel, or festive shopping, you can convert eligible transactions into EMIs at attractive interest rates and flexible tenures. No paperwork, no hassle - just convenience at your fingertips through FedMobile or Net Banking. Make the most of your credit card with smarter, stress-free payments!
Merchant EMI (Instant EMI)
Merchant EMI (also known as Instant EMI) is offered at the time of purchase through partnered merchants and payment platforms.
How it works
- Available at POS terminals of partners like Pine Labs, Ezetap, and PayTM.
- Also supported on online platforms like PayU, Billdesk, Razorpay.
- Customers can opt for EMI instantly while making the payment.
- EMI conversion is automatic and seamless, with no additional steps required.
Benefits
- Instant discounts and cashback on select brands and merchants.
- Interest rate starts at 1.33% p.m.
- Flexible tenures ranging from 3 to 24 months.
- Low processing fee, starting at just ₹99.
Example: Buying a laptop from Reliance Digital and choosing EMI at checkout to get up to ₹15,000 instant discount.
Offline Purchase EMI Process
Online Purchase EMI Process
Post Purchase EMI Conversion
Post Purchase EMI Conversion allows you to convert eligible purchases into EMIs after the transaction is completed.
How it works
- Login to FedMobile app → Credit Cards → More → EMI Conversion.
- Select the transaction and choose a suitable repayment plan.
- Alternatively, call 1800-420-1199 / 1800-425-1199 to convert via IVR.
Benefits
- Available for any eligible transaction, not limited to partner merchants.
- Tenure options from 3 to 24 months.
- Lowest interest rates applicalble at 1.5% p.m
- Lower processing fees starting at ₹ 99.
Eligibility
- Transactions settled and unbilled retail purchases from ₹1,500 (One Thousand Five Hundred) to a maximum ₹7,50,000 (Seven Lakh Fifty Thousand) can be converted into EMI.
Rates & Charges
| Feature | Details |
|---|---|
| Post Purchase EMI Interest Rate | Flat 18% p.a. (1.5% monthly) across all tenures from 3 to 24 months. |
| Merchant EMI Interest Rate | Reduced rate of 15.99% p.a. (1.33% monthly) across all tenures from 3 to 24 months. |
| Processing Fees | 1% of the transaction amount or ₹99, whichever is higher, during EMI conversion. |
| Foreclosure Charges | 3% of the remaining principal amount if EMI is foreclosed early. |
| Customer-Friendly Waiver | One-time waiver per quarter on foreclosure charges, processing fees, interest, and GST if informed within 7 days from the date of EMI availed. |
1. What are the benefits of converting transactions to EMI?
- Flexible Repayment Tenures
- Interest rate starting at 1.33 % p.m.
- Attractive Cashbacks & Instant Discounts
- Processing fee starting at just ₹99*
2. How can I convert my transactions to EMI?
You can convert your spends to flexible EMIs and repay in multiple tenures of your choice, either at the time of purchase or after the purchase. You can choose any of the following modes to opt for EMI:
- POS Machines of Select Payment Aggregators: Opt for Credit Card EMI while making a payment through POS machines of our partnered payment aggregators such as Pinelabs, Ezetap and PayTM.
- Select Online Merchants: Opt for Credit Card EMI while making purchases at prominent Online Merchants supported by payment aggregators such as PayU, Billdesk, Razorpay.
- FedMobile: Login to your FedMobile app, navigate to Credit Cards > More > EMI Conversion. Select the transaction you wish to convert into an EMI and choose a suitable repayment plan, to complete the EMI conversion.
- EMI on Call: Dial our toll-free numbers 1800-420-1199 / 1800-425-1199 and follow the instructions to convert your transaction to EMI.
3. What are the Rates & Charges on EMI?
For transactions converted into EMI, the principal, interest, and upfront discount provided by the merchant (if any), would be communicated at the time of conversion/transaction.
Interest Rate:
The interest rates have been kept at 15.99% per annum for Merchant/Instant EMI (across all tenures) and 18% per annum for Post Purchase EMI conversions (across all tenures), with monthly rests (based on the tenure availed) + GST. The applicable rate would be available in the Statement of Charges.
Refer General EMI Terms and Conditions for more details.
Processing Fee:
Transactions converted to EMI via Offline merchant outlets or online merchants: 1% of the transaction amount or Rs. 99, whichever is higher, will be collected at the time of conversion.
Transactions converted to EMI via FedMobile/ FedNet/ Contact Centre: 1% of the transaction amount or Rs. 99, whichever is higher, will be collected at the time of conversion.
4. What are the available EMI tenures?
You can choose flexible repayment tenures ranging from 3 to 24 months, depending on your convenience.
5. Can I convert any transaction into EMI?
Transactions between ₹1,500 and ₹7,50,000 are eligible. However, certain categories like gold, fuel, ATM withdrawals, and cash transfers are excluded.
6. Is there a down payment required?
No, Federal Bank offers zero down payment for EMI conversions.
7. Will I get confirmation after EMI conversion?
Yes, you will receive a confirmation via SMS and email once the EMI is successfully set up.
8. Are there any cashback or discount offers?
Yes, Federal Bank provides discount offers on select merchants and brands when you opt for Merchant EMI.
9. Is GST applicable on EMI interest and fees?
Yes, GST is applicable on both interest and processing fees.
10. Is there an EMI calculator available?
Yes, you can use the Federal Bank Credit Card EMI Calculator to estimate monthly payments.
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