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Shopping bills of many things cannot be converted into EMI, know about credit card rules

RBI Rules for Credit Card: Nowadays people are preferring to use credit card instead of cash. This saves you from the hassle of keeping cash. Along with this, many types of discount offers and cashback facilities are also available. Along with this, the credit card also gives the facility of EMI to the people on shopping. Many times people convert their bill into EMI after shopping. After this, he pays the bill in small installments, but, there are many such things whose bill cannot be converted into EMI.

You can easily pay for many types of items like electronic items, clothes, lifestyle related items, insurance company bills, travel expenses etc. Cannot be converted into EMI. So let us know about this-

Gold and silver bills cannot be converted
According to the rules of RBI, to control the consumption of gold in the country, if you buy gold through credit card, its bill will have to be paid simultaneously. EMI option is not available in this. Earlier many banks used to give EMI option but, RBI has issued this guideline in the year 2018 saying that you will not get the benefit of EMI on the purchase of jewelery like gold, silver and diamonds.

This facility is not available in HDFC credit card
Let us tell you that after 60 days there is no facility to convert the bill of shopping done in HDFC card to EMI. At the same time, in some cases, the bank does not get the facility to convert one month’s bill into EMI. Along with this, EMI facility is also not available on fuel bill and cash payment.

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