How does EMI work on a credit card?

Credit card EMI allows you to convert high-value purchases or outstanding balances into manageable monthly instalments over a fixed tenure. Key aspects include:

• Interest: Banks charge interest on the outstanding amount, typically lower than standard credit card rates.
• Credit Limit: Your available credit limit is reduced by the total purchase amount and restored gradually as you pay each EMI.
• Payments: The EMI amount is added to your monthly minimum amount due.
• Tenure: You can choose repayment periods usually ranging from 3 to 24 months.