Paying your personal loan EMI through a credit card can offer a useful short-term lifeline in tight financial months, but there are important caveats to consider. So, how to pay personal loan EMI through credit card? If your lender does support this method, the process is typically straightforward: you log in to the lender’s online portal or mobile app, navigate to the EMI payment section, choose the credit card option, input your card details and the EMI amount, and confirm the payment.
What are the Impacts of Personal Loan EMI Payment through Credit Card?
This method provides short-term flexibility by allowing you to manage EMI obligations even when cash flow is limited.
Benefits may include the credit card’s interest-free period giving you extra time to pay without immediate interest and the opportunity to earn cashback or reward points.
However, it's crucial to be cautious: if you do not clear the credit card balance in full by the due date, high interest charges can quickly outweigh the benefit. That’s why timely credit card repayment is critical.
Finally, always review any additional fees or interest imposed by your credit card issuer before opting for this route, and set reminders for both your EMI and credit card due dates to avoid late fees and preserve your financial health.
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Before knowing how to pay personal loan EMI through credit card, you must be aware of the fact that although you can pay your EMI using a credit card, doing so could result in an extra cost (1-3%) from the service provider. It could be wise to use your credit card to cover the interest on your loan in an emergency, but be careful to weigh all of your options before making the decision.
Can I Pay Personal Loan EMI Through Credit Card?
Yes you can pay personal loan EMI through credit card. However, keep this in mind that credit card payments for EMIs are not accepted by all lenders. To find out if this option is accessible and to learn more about the procedure and any related costs, get in touch with your lender.
You can use your lender's web portal or mobile app to make the payment if they accept credit card payments.
I hope this helps!
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How to Pay Personal Loan EMI through Credit Card?
Tara89
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2025-03-26T09:11:29+00:00 2025-03-26T09:11:29+00:00Comment
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