Difference between card payment via EMI on shopping site and paying credit card due via EMI
Difference between card payment via EMI on shopping site and paying credit card due via EMI https://www.fundstiger.com/difference-between-card-payment-via-emi-shopping-site-paying-credit-card-due-via-emi/ When you make a purchase online using your credit card, you can convert the transaction amount into equated monthly instalments (EMIs). This essentially means that you have converted the transaction (dues) into a loan and have opted to pay it via EMIs over a fixed number of months as chosen. There are two ways you can convert your credit card payments into EMIs. They are: either through instant EMI conversion on the e-commerce portal itself or convert the transaction amount into EMI after the transaction via Net-banking. The EMI includes a portion of the principal outstanding and interest component, which you need to pay every month until the full amount is paid. However, not all transactions can be converted into EMIs. Only those transaction amounts which are eligible for c...