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Payments, EMIs & Wallets

How does credit card EMI payment work?

For all EMI payments, first the full order value on the credit card gets charged. This then later gets converted into EMIs (by the bank) and excess amount goes back to the card. This process usually takes 5-7 workings days.

  • Snapdeal does not charge any processing fee on EMI payments.
  • Order value should be above Rs. 1,500 (either the cost of a single item or sum of many items in the same order)
  • Not available for jewellery and gold coins

Banks charge annual interest rates according to the reducing monthly balance. Here, the principal amount is reduced with every EMI and the interest is calculated on the outstanding balance. 

The table below shows a representative rendering of EMI plans for a Rs. 20,000 purchase using the EMI payment plan of HDFC bank.

Tenure (Months)

Purchase value

Monthly instalment (EMI)

Bank rate (%)

Total amount payable to bank

Interest paid to bank


Rs. 20,000

Rs. 6,800.44


Rs. 20,401.33

Rs. 401.33


Rs. 20,000

Rs. 3,450.97


Rs. 20, 705.80

Rs. 705.80


Rs. 20,000

Rs. 2,344.32


Rs. 21,098.89

Rs. 1098. 89


Rs. 20,000

Rs. 1,786.35


Rs. 21,436.15

Rs. 1,436.15