Frequently Asked Questions (FAQs)

1. Can my customers avail Offers for EMI payments at Checkout?🔗

Yes, they can. Know more about creating EMI Offers.

2. Can I enable No-Cost EMIs at the Checkout?🔗

Yes. Razorpay lets you to display No Cost EMIs at the Checkout. Know more about No Cost EMIs.

3. What are the standard credit card interest rates charged by the banks for EMI?🔗

The interest rates charged by various banks for each of the tenures are provided for your reference. The minimum transaction amount for which EMIs are applicable can vary for each bank. The maximum amount is dependent on the card limit set by the issuing bank.

Bank Code	Issuer Bank	Minimum Amount (in INR)	3 months	6 months	9 months	12 months	18 months	24 months
AMEX	American Express	5000	14%	14%	14%	14%	14%	14%
BARB	Bank of Baroda	2500	13%	13%	13%	13%	15%	15%
CITI	Citibank	2500	13%	13%	15%	15%	15%	15%
HDFC	HDFC Bank	3000	15%	15%	15%	15%	15%	15%
HSBC	HSBC Bank	2000	12.5%	12.5%	13.5%	13.5%	13.5%	13.5%
ICIC	ICICI Bank	1500	12.99%	13.99%	13.99%	13.99%	14.99%	14.99%
INDB	IndusInd Bank	2000	13%	13%	14%	14%	15%	15%
KKBK	Kotak Mahindra Bank	3000	12%	12%	14%	14%	15%	15%
RATN	RBL Bank	1000	13%	14%	15%	15%	15%	15%
SBIN	State Bank of India	2500	14%	14%	14%	14%	NA	NA
SCBL	Standard Chartered	2500	11.88%	13%	14%	14%	15%	15%
UTIB	Axis Bank	3000	13%	13%	14%	14%	15%	15%
YESB	Yes Bank	1500	13%	13%	14%	14%	15%	15%

4. What are the standard debit card interest rates charged by the banks for EMI?🔗

The interest rates applied by each bank for Debit Card EMIs is provided below. The minimum transaction amount for which EMIs are applicable can vary for each bank. The maximum transaction amount depends upon the available pre-approved limit for the customer. As of now, customers can avail EMIs on HDFC debit cards only.

Bank Code	Issuer Bank	Minimum Amount (in INR)	3 months	6 months	9 months	12 months	18 months
HDFC	HDFC Bank	5000	16%	16%	16%	16%	16%

5. What are the interest rates charged by other cards for EMI?🔗

The interest rates charged by other cards for EMI is given below.

Code	Card Network Name	Minimum Amount (in INR)	3 months	6 months	9 months	12 months
Bajaj Finserv	Bajaj Finserv	4999	5%	7%	10%	12%+

6. What are the standard interest rates charged by the banks for cardless EMI?🔗

The standard interest rates charged by various banks for cardless EMI are provided for your reference.

Cardless EMI	Issuer Bank	3 months	6 months	9 months	12 months	18 months
Flexmoney	Home Credit	24%	24%	24%	24%	NA
Flexmoney	Federal Bank	15%	15%	15%	15%	NA
Flexmoney	HDFC Bank	16%	16%	16%	16%	16%
Flexmoney	Bank of Baroda	16%	16%	16%	16%	16%
Flexmoney	ICICI Bank	16%	16%	16%	16%	NA
Flexmoney	IDFC First	24%	24%	24%	24%	NA
Flexmoney	Kotak Mahindra Bank	20%	20%	20%	20%	NA
Zestmoney	NA	22%	24%	24%	NA	NA
Axio	NA	24%	24%	24%	NA	NA
Earlysalary	NA	30%	30%	30%	NA	NA

7. What are the standard interest rates charged by Paylater providers for cardless EMI?🔗

The standard interest rates charged by the providers for paylater providers are given below:

Paylater	15 days	30 days	45 days	60 days	90 days
Simpl	Interest free	NA	NA	NA	NA
ICIC Paylater	NA	NA	Interest free	NA	NA
HDFC Flexipay	Interest free	28%	NA	28%	28%
LazyPay	Interest free	NA	NA	NA	NA

Handy Tips
All interest rates mentioned above are per annum.

8. If a customer chooses EMI as the payment method, do I get the full amount upfront?🔗

Yes, you receive the full amount at once and the provider/bank converts it into EMI for the customer.

9. What happens when the customer fails to pay the EMI?🔗

The loss is borne by the provider/bank. You would have already gotten the full amount.