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Frequently Asked Questions – Processing fee on Balance on EMI conversion

  1. What is Balance on EMI?
    Standard Chartered Credit Card holders have the option of converting their outstanding card balance to EMI commonly referred to as “Balance on EMI”.
  2. What is the processing fee for Balance on EMI being introduced?
    Effective February 19th, 2024, a one-time processing fee up to 1% (plus applicable taxes) would be applicable for all Balance on EMI conversions. This fee will be over and above the interest charges for EMI conversion.

    E.g.  If an INR 10,000 credit card balance is converted to EMI, and if the customer (basis bank’s policies) is to be charged 1% processing fee, INR 100 + applicable taxes will be charged as the processing fee.
  3. How much processing fee will be charged on my credit card outstanding conversion into EMI?
    The processing fee on Balance on EMI conversion will be up to 1% basis bank’s policies.
  4. When will the processing fee be effective from?
    Processing fee on Balance on EMI will be effective from February 19th, 2024.

  5. When will this fee get levied?
    The processing fee will be levied along with the first month’s EMI in your immediate next statement.

  6. For which channels is Processing fee on BOE applicable?
    Processing fee on BOE is applicable on conversion through the following channels:

    • When a customer calls our customer care for conversion of statement balance
    • When Standard Chartered Bank calls the customer for conversion of statement balance