What is the turn around time for converting a credit card transaction to EMI from the dealer?

In this tutorial, I am going to tell you; What is the turn around time for converting a credit card transaction to EMI from the dealer? , Primarily it does depend on when the transactions were made through a Credit card, For instance; Mostly merchants claim the amount as quickly as possible; so as quick merchant accept that transaction and claim that; then that transaction takes a few hours to be updated as a current CTD on your respective credit card,

Turn around time for converting a credit card transaction to EMI from the dealer

So the answer to this question is a minimum of two working days to a maximum of 4 working days; please remember; this turn around time is expected; after the dealer claim that transaction amount; which a credit card holder used to make using his/her credit card

But you may think of why does it take so much time; even if that particular transaction has been made by a credit card; so the reason is Every credit card is pre-determined with a certain limit of amounts to use; which we call credit card Limit, So once you make a debit transaction using your Credit card ,so the very amount debit from your credit card ,which takes a time for payment settlement on behalf of merchant/dealer sides ,

after the settlement of that transaction amount which you used is eligible to convert into EMI, now the thing is to reveal to you that, I said turn around time minimum 2 business day to maximum up to 4 business day; Note please – I would recommend making transactions via credit card on bank’s working days, doing so, won’t take enough turn around time, your credit card transactions EMI conversion may be possible within 2 working days, while if you make debit transactions on non-working days in this case it may take maximum up to 4 working days for those purchased amount to be converted into EMI,

How EMI is deducted from credit card

EMI deduct from credit card in keeping with credit card statement generate date, for which a credit cardholder has to make the payment for that EMI installment value, including other debit transactions amount as well, First of all, I would like to make you understand #How EMI is deducted from credit card?; so the basic answer is, those transactions which convert into an EMI has a monthly/annually time period; which depend on a customer chooses to opt the monthly tenure for,

Even EMI tenure often starts from a minimum period of 3 months and a maximum period of 60 months (5 years) or more, so that EMI’s value contains principal amount +interest amount+ GST of IA = TOTAL EMI value according to a monthly basis, which customer has to pay on a particular date which we call credit card billing due date,

For example – The total outstanding balance of My credit card is 50000 rupees, for which transaction date is -20/03/2021, my credit card statement generate date is -15th of every month (so the next statement will generate on 15/04/2021, I converted 50000 rupees into EMI on 25/03/2021, I opted the EMI tenure for 6 months,

So you can see the above pic which shows the payment schedule which I need to pay every month on my credit card billing due date, there has been a processing fee for EMI,so you can know all these details by contacting your respective bank credit card department helpline number,

Hope the instructions are given by me is helpful for you, if so, do not forget to share it, and if you have a question, feel free to ask, Below comment section is available for you#What is the turnaround time for converting a credit card transaction to EMI from the dealer? the answer you know now

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