Can we foreclose a credit card EMI?

Yes, you can foreclose a credit card EMI by paying the remaining principal amount in full before the tenure ends. To initiate this, you must contact your bank via customer care, internet banking, or the mobile app. Points to consider:

• Foreclosure Charges: Most banks levy a fee ranging from 2% to 5% of the outstanding principal.
• GST: An 18% GST is applicable on the foreclosure fee.
• Process: Once the request is processed, the bank will include the total outstanding amount in your next billing statement.