1. What are the benefits of converting transactions to EMI?
- Flexible Repayment Tenures
- No Down Payment
- 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, Pinelabs, Ezetap and PayTM.
- Select Online Merchants: Opt for Credit Card EMI while making purchases at prominent Online Merchants supported by 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 T&C for more details: https://www.federalbank.co.in/credit-card-emi-terms-and-conditions
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.
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