Pay Your Coaching Fees Via Credit Card EMI’s

Paying bills online using credit cards is a facility that most of us have used. Now, you can do the same to pay your education fees as well. Earlier, the fees had to be paid by cash, cheque or demand draft. Now, this payment can also be made using a credit card equated monthly instalments (EMIs). Now you don’t need to pay back the entire amount up front. You can enjoy the convenience of paying back in easy EMI.
You can pay anytime from anywhere. But the bigger advantage is that you can pay for institutes or courses for which education loans are not available—coaching institutes, privately run colleges and even pre-schools. “Coaching institutes have heavy fees and no education loan is available. If there is pressure to pay for children’s education within a given time period during which liquidity may not be available, credit card could be the savior as the credit line is already open,”
It is a flexible fee payment collection option available to students. Through this facility, the students will be able to pay their fees through installments using their credit cards. In this mode, student may enter credit card details online and also choose EMI options (Bank and tenure details) and complete the transaction. The amount will be converted into EMIs and debited to the card holder in the next credit card statement onwards. Installments can be as low as Rs. 54 per Rs. 1,000
The process is easy and convenient. The repayment tenure is generally 3,6,9,12,18 or 24 months giving us multiple months to repay. People can enjoy the convenience of EMI at a low interest rate, without the hassle of any paper work, a nominal processing fee. The EMI payment facility could be availed at the following banks-ICICI, SBI-GE, Citibank, HSBC, IndusInd, Standard Chartered, American Express and Kotak Mahindra Bank.
Almost all the credit card companies offer two variants of the EMIs – one is a free zero interest rate EMI and the other is a low interest rate EMI.  You enjoy a lower interest rate than the revolving interest rate you would normally pay on your credit card. The low interest rate EMI option calls for interest rate in the range of 1.25%-1.99% per month which in most cases is lower than the normal rate charged on a credit card late payment.
Earn Reward points on your card on the EMI transactions, loyalty points and cash back cards. It can save you time and trouble as no need of searching for an ATM or keeping cash on-hand. It makes it easy to spend beyond your means. Credit card statements can help you track your expenses.
When you consistently pay your bill on time, you can improve your credit score which could save money. Airline miles that can be redeemed for trips or to purchase trips at a discountOffer benefits such as travel and emergency assistance or other travel-related features.

For more information click

Leave a Reply

Your email address will not be published. Required fields are marked *