I made a large purchase abroad using this card. Does IndusInd allow me to convert forex transactions into EMI? If yes, what are the interest rates and processing charges?
IndusInd Bank enables its customers to turn their foreign exchange transactions into monthly installments through EMI and customers must understand several key points regarding this service. You can start EMI conversions on your large international purchase by using IndusInd NetBanking or mobile banking or by calling their customer service telephone number.
IndusInd Bank applies annual interest rates ranging between 12-18% together with processing fees that relate to your card type and term length during EMI conversions. Before electing EMI consider that you need to pay a processing charge which amounts to 1-2% of the transaction amount.
The 3.5% markup fee which is normally applied to forex transactions exists independently from EMI procedures which will add additional interest costs to your transaction. EMI functions as a good choice to spread out large purchases yet you should carefully calculate the total payment amount before triggering the EMI process.
The EMI conversion period requires you to complete the process inside 30 days after your purchase because banks restrict post-30-day EMI transformation. Spending time with IndusInd customer care allows customers to verify current EMI rates before making their application.