RBL Bank offers EMI conversion for credit card payments

RBL Bank offers a helpful way for credit card holders to manage their spending. The bank has a facility called ‘Split n Pay’. It allows customers to convert their high-value transactions into Equated Monthly Installments (EMIs). Credit card users can choose from flexible tenure options. They can repay their EMIs over 3, 6, 9, 12, 18, or up to 24 months. This flexibility helps users plan their finances without stressing about large upfront payments. The interest rates for these EMIs are between 12% and 13% per year. The exact rate depends on the specific credit card and the amount spent. There are also processing charges, which will be explained during the application. If a customer wants to pay off the EMI early, a foreclosure charge of 3% of the principal balance will apply. Customers should always check RBL Bank’s official website or contact customer support for the latest rates and terms. Additionally, RBL Bank sometimes offers discounts for converting transactions into EMIs. For example, customers can get up to 15% off on domestic flight bookings made through select platforms. This offer is valid until March 31, 2025. While this EMI conversion feature is beneficial, users should be aware of the risks of using credit cards. It's important to keep updated with the bank’s terms, as they may change. Overall, converting credit card payments into EMIs can help users manage their finances more effectively.