Frequently Asked Questions
SmartEMI in HDFC Bankis a facility that allows you to convert large purchases on your HDFC Bank Credit Card into EMIs. It offers attractive interest rates and stress-free repayment benefits over tenures lasting from 9 to 36 months.
To check your EMI amount value under SmartEMI, log in to your HDFC NetBanking Account and check your SmartEMI eligibility under Cards > Credit Cards > Transact > SmartEMI.
The SmartEMI Calculator online calculates the EMI amount based on the loan amount chosen, the interest rate applicable, and the tenure for repayment. It uses the formula:
[P x R x (1+R)^N]/[(1+R)^N-1], where:
P: is the principal loan amount
R: is the monthly interest rate
N: is the number of monthly installments or the loan tenure in months