Running Low on Cash? Convert Rent Into EMI Using Credit Card

byDilip PrasadJune 15, 2023
Running Low on Cash? Convert Rent Into EMI Using Credit Card

Paying rent on Equated Monthly Installments (EMI) through a credit card is a convenient option that allows individuals to split their rent payments into manageable monthly installments. Paytm, the most convenient and accessible payment application now allows its users to pay rent via EMI on a Credit Card. Paytm is the first mobile payment app in the finance industry to offer the feature of rent payment via credit card EMIs. This method can be beneficial for those who prefer to use their credit cards for various financial transactions and want to leverage the flexibility and rewards associated with credit card usage.

Process of EMI Rent Payment via Credit Card On Paytm

  1. Eligibility: To pay rent on EMI through a credit card, you need to check if your credit card provider offers this facility. Not all credit cards have this feature, so it’s essential to verify with your card issuer.
  1. Enroll: Once you confirm that your credit card supports rent payment on EMI, you will need to enroll in the program. This might involve submitting an application or activating the feature online or through customer service.
  1. Landlord participation: In some cases, your landlord may need to be registered or partnered with the credit card company or the platform facilitating the EMI payment process. This ensures that the rent is received directly by the landlord in a seamless manner.
  1. Rent payment: After enrolling in the program and verifying your landlord’s participation, you can initiate the rent payment process. Typically, you will need to provide details such as the rent amount, your landlord’s information, and the duration for which you want to split the payment.
  1. EMI options: Depending on the credit card provider and the terms of the program, you may have different EMI options available. These options might include choosing the repayment tenure, such as 3 months, 6 months, or longer, depending on your preferences and the terms provided by the credit card issuer.
  1. Interest rates and fees: It’s important to note that paying rent on EMI through a credit card may involve certain interest charges and processing fees. These charges can vary depending on the credit card provider, the duration of the EMI, and other factors. Make sure to review the terms and conditions, including the interest rates and fees associated with the EMI payment option, before proceeding.
  1. Credit limit and availability: Another aspect to consider is your available credit limit. When you opt for paying rent on EMI, a portion of your credit limit will be utilized to cover the rent amount. Ensure that you have a sufficient credit limit available to accommodate the transaction.
  1. Rewards and benefits: One of the advantages of paying rent on EMI via a credit card is that you can earn rewards and benefits associated with your credit card. Depending on your credit card provider, you may be eligible for cashback, reward points, or other perks for utilizing this payment option.

How to Pay Rent on EMI Using Your Credit Card on Paytm?

Paytm has introduced the industry’s first feature which is paying rent via EMI on Credit Card. This will help users who have higher shop rent, are facing a cash crunch, or are unable to afford higher house rent for any reason.

  • Log in to the Paytm app
  • On the home screen, click on the ‘Rent via Credit Card’ option under the ‘Recharge & Bill Payments’ section
  • Select the type of rent you want to pay out of the available options that include House Rent, Shop Rent, Broker Payment, and Society Maintenance
  • Now, enter your landlord’s and your bank account details
  • You will now be asked to enter your rent agreement
  • Click on ‘Proceed’
  • On the next screen, enter your mobile number followed by your credit card details, as required
  • Select the EMI option on your Credit Card
  • Pay rent successfully!

Benefits of Using Paytm to Pay Rent on EMI?

Payment of rent via credit card EMIs on the Paytm app offers the following benefits-

  • Paytm is the first mobile payment app in the finance industry to offer the feature of rent payment via credit card EMIs
  • Rent payment through credit card EMIs allows users to enjoy an interest-free credit period of up to 45 days
  • Users can also enhance their credit score by paying rent using their credit card
  • Paytm offers a seamless, hassle-free, and quick payment process via credit card
  • Users can download their rent receipts instantly from the Paytm app and share them with their landlords without any hassle
  • Paytm offers rent agreement templates such that they can be easily submitted in offices for HRA deductions or for tax savings
  • Paying rent using the Paytn app helps users to earn cashback or reward points on every payment using a credit card
  • Paytm shares timely reminders for all EMI payments so that you don’t miss out on any payment ever
  • Paytm offers the best success rate and minimal failures on credit card payments
  • There is a very low convenience fee on credit card EMI payments on the Paytm app

Wrapping it Up!

By choosing to pay rent on EMI through a credit card on the Paytm app, users can enjoy the convenience of splitting their rent payments into monthly installments, potentially earning cashback & rewards, and leveraging the benefits offered by their credit card provider. However, it is essential to carefully evaluate the associated charges and ensure that you have a clear understanding of the terms and conditions provided by your credit card issuer. Use the Paytm app to pay rent on EMI via credit card to enjoy the maximum benefit and a convenient and quick payment process.


What is Paytm EMI for rent?

Paytm EMI for rent is a service provided by Paytm that allows you to pay your monthly rent in equated monthly installments (EMIs) using your credit card. It enables you to split your rent amount into smaller, more manageable payments.

Which credit cards are accepted for EMI payments on Paytm?

Paytm accepts a wide range of credit cards for EMI payments, including Visa, Mastercard, American Express, and more. However, the availability of EMI payment options may vary depending on your credit card issuer and the partnership between Paytm and the specific credit card provider.

How can I pay my rent on EMI using Paytm?

To pay your rent on EMI through Paytm, follow these steps-
  • Open the Paytm app or website and navigate to the “Rent Payments” section.
  • Enter the required details, such as your landlord’s information, rent amount, and EMI tenure.
  • Select the credit card payment option and choose the desired EMI plan.
  • Review the terms and conditions, including the interest rates and fees associated with the EMI payment.
  • Confirm the payment to initiate the EMI transaction.

Are there any additional charges for paying rent on EMI via Paytm?

Yes, there may be additional charges associated with paying rent on EMI through Paytm. These charges can include interest rates, processing fees, and any other fees imposed by your credit card issuer or Paytm.

Can I earn reward points or cashback when paying rent on EMI via Paytm?

Paytm offers various credit card-specific rewards and cashback programs. Depending on the partnership between Paytm and your credit card provider, you may be eligible to earn reward points or cashback on your EMI payments.

What happens if I miss an EMI payment for my rent on Paytm?

If you miss an EMI payment for your rent on Paytm, it may lead to late payment charges and affect your credit score. It’s important to ensure that you have sufficient funds available in your credit card account to cover the EMI payment on the due date.

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