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Axis Bank Credit Card EMI Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

0

Principal Amount

Interest

Total Payable

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What is the Axis Bank Credit Card EMI Calculator?

Imagine having an incredible tool that takes the guesswork out of managing your credit card payments. Introducing the Axis Bank credit card EMI calculator - your key to hassle-free financial planning.

Suppose you're eyeing that tempting big-ticket purchase or considering converting your existing transactions into EMIs. Instead of relying on guesswork or complex calculations, the online Axis Bank credit card EMI calculator simplifies the process of calculating your monthly repayments towards the loan. Its intuitive interface and accurate calculations save you precious time and effort while ensuring you stay within your budget.

The Axis Bank credit card EMI calculator gives you an accurate picture of your monthly obligations. You can make smarter financial choices by understanding the impact of different variables on your EMIs. It's like having a roadmap that guides you towards easy debt management.

How Does the Axis Bank Credit Card EMI Calculator Work?

Here's how the credit card EMI calculator works:

You enter the loan amount you wish to avail on your credit card or the outstanding balance you intend to convert into EMIs. Enter the applicable interest rate and repayment tenure. The credit card EMI calculator instantly generates the value of EMI you will need to pay to clear your credit card dues. This helps you plan your repayments more effectively and stay on the top of your credit card obligations.

What is the Axis Bank Credit Card EMI Calculator Formula?

The Axis Bank credit card EMI calculator formula is given below:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P is the principal loan amount

R is the rate of interest

N is the repayment tenure in months

How to Use the Axis Bank Credit Card EMI Calculator Online?

Follow the steps listed below to gain a quick understanding of how to use the credit card EMI calculator:

  • Visit Angel One and locate the Axis Bank credit card EMI calculator.
  • Enter the loan amount
  • Enter the rate of interest
  • Enter the repayment tenure in years

Once you have entered the details above, the online Axis Bank credit card EMI calculator will instantly generate the EMI amount, the total payable amount, and interest.

Let’s look at an example.

Suppose, you have a credit bill of Rs. 5,00,000 that you want to pay in EMIs over 4 years and the bank charges 7% interest on the amount. Once you enter this information into the calculator, you will get your EMIs as Rs. 11,973. The total interest payable will be Rs. 74,710, making the total amount payable at the end of four years Rs. 5,74,710.

Benefits of Using the Axis Bank Credit Card EMI Calculator

There are numerous benefits of the online Axis Bank credit card EMI calculator. Some of them are listed below:

  • Accurate financial planning: The Axis Bank credit card EMI calculator provides precise calculations for your monthly installments. By entering the loan amount, interest rate, and tenure, you can determine the exact EMI amount you need to pay. It helps you plan your finances effectively and stay within your budget.
  • Comparison of options: The online Axis Bank credit card EMI calculator enables you to compare different loan options by adjusting the loan amount, tenure, and interest rate. It empowers you to choose the most suitable EMI plan that fits your financial capabilities and preferences.
  • Transparency: Using the Axis Bank credit card EMI calculator eliminates any ambiguity or confusion regarding your repayment obligations. The calculator provides a detailed breakdown of your EMI, interest payable, and total amount due. It ensures that you have a comprehensive understanding of your financial commitment.
  • Financial discipline: The Axis Bank credit card EMI calculator encourages responsible financial behavior by helping you visualize the long-term implications of your purchases. It assists you in making informed decisions about your expenses and prevents impulsive buying.
  • Enhanced financial management: The online Axis Bank credit card EMI calculator helps you better understand your cash flow and how much you can afford to spend. It enables you to manage your finances more efficiently, ensuring you allocate your resources wisely and avoid unnecessary debt.

Factors Influencing Axis Bank Credit Card EMI Amount

Understanding the factors influencing credit card EMI amounts is crucial for effective financial planning. Here are the key elements that influence your credit card EMI amount:

  • Purchase amount: The total cost of your purchase is a significant factor that directly affects your EMI amount. The higher the purchase amount, the more significant your monthly EMI will be.

  • Interest rate: The interest rate assigned to your credit card significantly determines your EMI amount. Higher interest rates can result in larger EMIs, while lower rates can help reduce your monthly payments.

  • Repayment tenure: The duration you choose to repay your credit card balance affects your EMI amount. Opting for a shorter tenure means higher EMIs, while a longer tenure spreads the repayment amount across more months, resulting in lower EMIs.

  • Processing fees: Some credit card issuers charge a processing fee when you convert your purchases into EMIs. This fee is usually a percentage of the total transaction value and can impact your EMI amount.

  • Prepayment or foreclosure: If you decide to prepay or foreclose your credit card EMIs before the end of the chosen tenure, it may result in additional charges or penalties, altering your EMI amount.

Types of Credit Cards Offered by Axis Bank

Axis Bank provides you with multiple credit card options. Here are some of them:

  • Axis Bank My Zone Credit Card: You can enjoy fantastic benefits with your MY ZONE Credit Card. When you book movie tickets through Paytm Movies, you'll receive a 100% discount on the second ticket, up to a maximum of Rs. 200 per month. You can also enjoy a 40% discount on food delivery at Swiggy.

  • Axis Bank Privilege Credit Card: You can enjoy a range of benefits. Upon joining, you will receive 12,500 Edge Reward Points, which can be redeemed for multi-brand vouchers worth Rs. 5,000. Additionally, when you reach a spending milestone of Rs. 2.5 lakh, your earned Edge Reward Points can be converted into multi-brand vouchers worth twice their value

  • Rewards Credit Card: With the Rewards Credit Card, you can earn 5,000 Edge Reward points when you make cumulative net spends of Rs. 1,000 or more within 30 days of receiving the card. Additionally, you can receive accelerated points for spending up to Rs. 7,000 per month on specific categories.

  • IndianOil Axis Bank Credit Card:
    You can earn 100% cashback up to Rs. 250 on your first fuel transaction within 30 days of receiving the card. You also get a 4% value back on fuel transactions by earning 20 reward points per Rs. 100 spent at IOCL. Additionally, you get a 1% value back on online shopping by earning five reward points per Rs. 100 spent.

FAQs

What is the Axis Bank credit card EMI calculator?

The Axis Bank credit card EMI calculator assists you in calculating the EMI payments you must make towards clearing your outstanding dues on your credit card.

How to use the Axis Bank credit card EMI calculator online?

Visit Angel One and navigate to the online Axis Bank credit card EMI calculator. Enter the principal loan amount or the outstanding balance, interest rate, and investment tenure. The credit card EMI calculator will calculate your EMIs.

Is the Axis Bank credit card EMI calculator free to use?

Yes, the Axis Bank credit card EMI calculator is available for free on Angel One.

How is the total interest of the Axis Bank credit card loan EMI calculated?

You can calculate the total interest by deducting the principal amount from the total payable amount. The online Axis Bank credit card EMI calculator can help you calculate the interest you will pay on your credit card loan or dues.

Is it good to pay the Axis Bank credit card bill in EMI?

It can be beneficial to pay credit card bills in EMIs. It offers the convenience of smaller instalment payments for outstanding debts, allowing you to manage your finances effectively. However, it's important to consider factors such as interest rates, credit limit impact, processing fees, and repayment tenure before opting for EMIs..

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Enjoy Zero Brokerage on Equity Delivery

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