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Citibank 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 Citibank Credit Card EMI Calculator?

The Citibank credit card EMI calculator is a powerful tool that can effortlessly help you calculate the payable EMI upon converting your credit card bills or loans into EMIs. With this user-friendly online calculator, you can easily determine the exact EMI amount by inputting the principal amount, tenure, and interest rate. It ensures accuracy, saving you valuable time and effort.

The online Citibank credit card EMI calculator provides a comprehensive understanding of your financial obligations. It offers a clear overview of how various interest rates and amounts change your EMI and empowers you to make well-informed decisions aligning with your financial goals.

The benefits of utilizing the Citibank credit card EMI calculator extends beyond its convenience and ease of use. It empowers you to take control of your financial obligations.

Whether you wish to plan your budget, manage your debt efficiently, or compare different rates and amounts, this credit card EMI calculator equips you with the necessary insights to make informed decisions and confidently navigate your financial journey.

How Does the Citibank Credit Card EMI Calculator Work?

The credit card EMI calculator considers three variables, including the loan amount, interest rate, and loan duration, to compute the monthly instalment, the total interest you will incur, and the total amount you must repay by the end of the loan period.

What is the Citibank Credit Card EMI Calculator Formula?

These three factors are integral to the EMI calculator formula – loan amount, loan period, and interest rate.

The Citibank credit card EMI calculator formula is given below:

EMI = [PxRx(1+R)^N] ÷ [(1+R)^N-1]

Here,

P = Loan or principal amount

N = Tenure in terms of months

R = Monthly interest rate charged by the bank

How to Use the Online Citibank Credit Card EMI Calculator?

Using the online Citibank credit card EMI calculator is simple, as you just need to follow these three steps:

  1. Visit Angel One and locate the Citibank credit card EMI calculator
  2. Enter the credit card loan amount or the outstanding credit card balance you want to convert into EMIs
  3. Enter the annual interest rate applicable on your credit card EMIs
  4. Specify the tenure in years

Once you have entered the above details, the credit card EMI calculator will display the EMI amount. It will also display the total payable amount with the interest component.

Let’s look at an example.

Suppose you have an outstanding balance of Rs. 1,50,000 on your credit card. You want to repay this amount in the next 2 years, and the bank charges an interest of 7.2% annually. Once you enter these figures into the credit card EMI calculator, it will display the EMI as Rs. 6,730. The Citibank credit card EMI calculator will display the total payable amount and interest, Rs. 1,61,508 and Rs. 11,508, respectively.

Benefits of Using the Citibank Credit Card EMI Calculator

Listed below are the primary benefits of using the Citibank credit card EMI calculator:

  • Free and time-saving: The online Citibank credit card EMI calculator is a free tool that saves you time by providing quick and accurate results. Unlike manual calculations, which can be prone to errors, the online calculator ensures precision and eliminates human mistakes.
  • Removes human errors: Manual calculations using mathematical formulas for the Citibank credit card EMI can lead to errors. The Citibank credit card EMI calculator helps avoid these mistakes and ensures accurate results.
  • Simplifies financial planning: The online Citibank credit card EMI calculator simplifies financial planning by allowing you to determine affordable loan options and EMIs that fit within your monthly budget. It helps you manage your finances more efficiently.
  • Facilitates informed decision-making: With the Citibank credit card EMI calculator, you can enter different loan amounts, interest rates, and tenures to compare EMIs and total interest amounts payable in different situations. It enables you to make informed decisions and choose the most affordable loan option that suits your needs.

Types of Credit Cards Offered by Citibank

Citibank offers the following types of credit cards:

  1. Citi Rewards Credit Card: You can earn 10 reward points for every Rs. 125 spent on apparel and department stores, both online and in-store. You'll receive 1 reward point for every Rs. 125 for all other expenses. Additionally, when your card purchases exceed Rs. 30,000 a month, you can earn a bonus of 300 reward points. The best part is that you can redeem your reward points whenever you want or continue accumulating them, as they will never expire.
  2. Citi Cash Back Credit Card: You can enjoy 5% cash back on purchases of phones, utility bills, and movie tickets. All other spends will earn you 0.5% cashback. You don't have to worry about your unredeemed cashback expiring—it's evergreen and will always be available for you to use.
  3. Citi PremierMiles Credit Card: With this credit card, you can earn 10 miles for every Rs. 100 spent on airline transactions and 4 miles for every Rs. 100 spent on all other purchases. You can get complimentary access to select airport lounges across India. Your miles never expire, allowing you to use them whenever you want. You also get a lost card liability cover of Rs. 10 lakh. You can also save up to 20% at participating restaurants.
  4. IndianOil Citi Credit Card: You receive a welcome bonus of 250 Turbo Points when you make your first purchase within 30 days of receiving the card. You get 4 Turbo Points for every Rs. 150 spent and a 1% fuel surcharge reversal when you purchase fuel at authorized IndianOil outlets. Additionally, you can earn 2 Turbo Points for every Rs. 150 spent on groceries and supermarkets and 1 Turbo Point for every Rs. 150 spent on all other transactions.
  5. First Citizen Citi Credit Card: You can earn 14 First Citizen Reward Points for every Rs. 200 spent on private brand apparel at Shoppers Stop. Additionally, you'll get 10 First Citizen Reward Points for every Rs. 200 spent at Shoppers Stop and other select outlets such as Homestop, Arcelia, M.A.C, Clinique, Estee Lauder, Bobbi Brown, Jo Malone, and Smashbox. Furthermore, you'll earn 2 First Citizen Reward Points for every Rs. 200 spent on other purchases.
  6. Citi Prestige Credit Card: You can earn at least 1 reward point on every Rs. 100 spent, whether online or in-store. Additionally, as a bonus, you'll receive a welcome gift of 2,500 bonus points and benefits worth Rs. 10,000 from ITC or Taj.
  7. Paytm Credit Card: You can enjoy great cashback benefits with this credit card. You can earn 5% cashback on purchases made on Paytm Mall and 2% cashback on Paytm Flights. For all other spends on Paytm, you can earn 3% cashback. Moreover, you'll receive 1% cashback on all other purchases.

FAQs

What is the Citibank credit card EMI calculator?

The Citibank credit card EMI calculator is a simple online tool that helps you estimate your EMIs. Once you enter the loan amount, tenure and interest rate into the calculator, it instantly estimates the EMI, total interest amount, and the total amount you need to repay.

How to use the Citibank credit card EMI calculator online?

Once you visit Angel One, check for the Citibank credit card EMI calculator. Next, enter the loan amount, interest rate, and tenure into the calculator. The online Citibank credit card EMI calculator will display EMIs and the total payable amount.

Is the Citibank credit card EMI calculator free to use?

Yes, you can use the Citibank credit card EMI calculator for free on Angel One. The tool allows unlimited uses without any charge.

How is the Citibank credit card EMI calculated?

The monthly instalment on credit card debt is calculated using this formula - EMI=[P×R×(1+R)^N] ÷ [(1+R)^N-1], where P is the loan or principal, N is the tenure in months, and R is the interest rate charged by the bank.

Is it good to pay Citibank credit cards in EMIs?

It makes sense to take the EMI route if the credit card due is large and difficult to repay in one go. However, you must pay every EMI on time, as a default can impact your credit score. Also, keep the tenure short, as long ones increase the total interest burden.

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