How to make emi only on outstanding (reduced after prepayment) and not full transaction.

[shariqAzim]

Help me with this situation.

I have made a transaction of 2.1 lakhs rs yesterday from ICICI credit card. I do have limited of 3.3 lakhs . Now to maintain credit utilisation ratio under 30 cent .i made payment of 1.2 lakhs such as now only ₹90,000 outstanding balance is left. I thought to convert to emi but bank is saying they can only make emi of the whole amount i.e. ₹210,000 transaction.

Calling bank didn't helped.
Can you suggest what should i do to make emi option on only outstanding amount. This way i dont end up paying any extra interest amount.

 

[hellowo₹ld]

Help me with this situation.

Now to maintain credit utilisation ratio under 30 cent .

u don't need to worry about this, unless this is the only card. then also no need to worry unless u do this every other month. then also no need to worry unless you missed payment. then have to worry.

CIBIL is not fixed, it will change every 1 week (Because some banks updating weekly), or mostly every 2 weeks (because as per rbi every bank has to update 2 times in a month).

U can't manage, or divert for something in that short span of time.

Credit cards are meant to utilize grace period (15 to 40 days depends on when u did the transaction), and must and should pay bill on time, always. Thats the only criteria, u have to follow.

Paying on time -- is the most major part of your score, rest of them will adjust based on time which you can't control or predict when that might happen.

ICICI might already reported even then 30% in one or three times in a year no issues and definitely not important if u have other cards. Unless you maxed out 30% on all your cards. then also only issue if u do this every month.

i made payment of 1.2 lakhs such as now only ₹90,000 outstanding balance is left. I thought to convert to emi but bank is saying they can only make emi of the whole amount i.e. ₹210,000 transaction.

Calling bank didn't helped.
Can you suggest what should i do to make emi option on only outstanding amount. This way i dont end up paying any extra interest amount.

EMI always considered full amount, partial or customizable amount not possible any bank. even flexi emi also need to convert whole amount.

Again, do not worry, but pay on time, always.

 

[StarLord⚡]

2 years ago I called SBI Credit Card Customer Care with a similar issue. They said that EMI on full amount is always possible but EMI on partial amount is not possible. I also emailed them but they gave me the same reply. If you don't want to pay high interest rate then you should pay in full.