ICICI Credit Card EMI Calculator

ICICI Credit Card EMI Calculator

The ICICI Credit Card EMI Calculator helps you estimate your monthly installments when converting your ICICI credit card transactions into EMIs. This tool is useful for planning repayments on big-ticket purchases while maintaining financial stability.

What is an ICICI Credit Card EMI?

ICICI Bank offers the option to convert credit card purchases above a certain amount (usually ₹3,000) into manageable monthly installments. This allows cardholders to spread repayment over a fixed tenure with applicable interest, making it easier to handle high-value transactions without financial strain.

How the ICICI Credit Card EMI Calculator Works

The calculator computes your monthly EMI using the following key inputs:

• Purchase Amount: The total value of the transaction made via the credit card
• Interest Rate (Annual Percentage Rate or APR): Typically ranges from 13% to 18% p.a., depending on tenure and credit profile
• Tenure: The duration over which you plan to repay, usually 3 to 24 months
• Processing Fee (if applicable): ICICI Bank may charge a one-time fee for EMI conversion

Formula Used

EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ – 1]

• P: Principal loan amount (transaction value)
• r: Monthly interest rate (annual rate ÷ 12 ÷ 100)
• n: Tenure in months

Key Benefits of Using the Calculator

• Quick Estimates: Instantly view your monthly outgo
• Informed Planning: Choose a suitable EMI plan based on your cash flow
• Flexibility: Adjust tenure and compare total interest payable
• No Guesswork: Accurate and transparent breakdown of EMIs

Example Calculation

Let’s say you purchased a product worth ₹30,000 using your ICICI credit card and want to repay it over 12 months at an interest rate of 14% p.a.:

• Monthly interest rate: 14 ÷ 12 = 1.167%
• EMI: ₹2,717 (approx.)
• Total repayment: ₹32,604
• Total interest: ₹2,604

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.