By Bharti Bisht
Updated On January 2, 2023

The YES Bank EMI Credit Card is one of the two recently launched cards by the YES Bank, the other one being the BYOC Credit Card. The EMI Credit Card, as suggested by its name, is targeted at people who prefer paying for large transactions in EMIs. It comes with a nominal annual membership fee of Rs. 499 and you can get it waived on achieving the required annual spending in the preceding year. Talking about its key features, this card comes with auto EMI conversion, and all transactions above Rs. 5,000 are automatically converted into EMIs. The card also offers decent cashback benefits and you can earn up to 3% cashback on transactions made using it. To know more about the YES Bank’s EMI Credit Card and all its features in detail, keep reading the article:

YES-Bank-EMI-Credit-Card

(4.5/5)

Best Suited For

Shopping |

Joining Fee

Rs. 499

Reward Type

Cashback |

Product Details

  • 3% cash back on selected purchases made using this card.
  • 1% cashback on all other retail transactions
  • Automatic conversion of large transactions into EMIs.
  • Spend-based waiver of the annual membership fee.
  • 1% fuel surcharge waiver.
  • Exciting additional deals on YES Cart.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

Get 1% cashback on all retail purchases and 3% cashback on selected transactions through YES Cart.

Reward Redemption

The earned cashback is directly credited to the cardholders’ accounts.

Travel

NA

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

NA

Zero Liability Protection

You get zero liability protection against a lost/stolen card if reported to the bank in a timely manner.

Fees & Charges

Joining Fee

Rs. 499

Renewal Fee

Rs. 499

Spend based Waiver

The renewal fee of Rs. 499 is waived on spending Rs. 1.2 lakhs or more in the previous anniversary year.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% of the total amount

Interest Rates

3.5% per month

Fuel Surcharge

1% fuel surcharge waiver capped at Rs. 250 per month.

Cash Advance Charge

2.5% of the withdrawn amount or a minimum of Rs. 500

Add-on Card Fee

Nil

YES Bank EMI Credit Card Features and Benefits

The EMI Credit Card by YES Bank has some basic yet great benefits, including cashback, automatic EMI conversion, and a few more. It is a great option for those who believe in paying for a large purchase in EMIs rather than paying it all at once. For detailed advantages of this card, go through the below-mentioned points:

Cashback Benefits

The YES EMI Credit Cardholders earn the following cashback rates on different purchases with their cards:

  • 3% cashback on selected merchant transactions through YES Cart, the rewards and deals portal of YES Bank. The cashback under this category is capped at Rs. 1,000 per month.
  • 1% cashback on all other retail purchases (capped at Rs. 500 per month).
  • No cashback is earned on transactions that are converted into EMIs.

Cashback Redemption

The cashback you earn using this card in a month is automatically credited to your account within 90 days from the last date of that particular month. It is adjusted against your card’s outstanding balance and you can redeem it by using your card itself.

Auto-EMI Conversion

All the transactions made via the YES Bank EMI Credit Card are eligible for automatic EMI conversion with the following interest rates and tenures:

Transaction Value Interest Rate Tenure
Rs. 5,000 to Rs. 10,000 16% per annum 3 months
Rs. 10,001 to Rs. 20,000 16% per annum 6 months
Rs. 20,001 to Rs. 5,00,000 16% per annum 12 months
  • The eligible transaction amount is converted to EMI within 5 working days from the purchase date.
  • An interest of 16% per annum would be applicable on the monthly reducing outstanding balance.
  • An EMI processing fee of 1% is also applicable on auto-EMI conversions.

Spend Based Waiver

The renewal fee of Rs. 499 is waived if the cardholder has spent Rs. 1,20,000 or more in the preceding anniversary year.

Fuel Surcharge Waiver

You get a 1% fuel surcharge waiver on all fuel purchases between Rs. 400 and Rs. 5,000. The maximum waiver per statement cycle is capped at Rs. 250.

YES Bank EMI Credit Card Fees and Charges

Some very important fees and charges associated with the YES bank’s EMI Credit Card are mentioned below:

  • The joining and annual fee of the YES EMI Credit Card is Rs. 499 plus applicable taxes. The renewal fee can be waived on spending Rs. 1.2 lakhs or more in the preceding year.
  • The cash advance fee on this credit card is 2.5% of the cash amount, subject to a minimum of Rs. 500.
  • The interest rate on the YES Bank EMI Credit card is 3.5% per month. However, the interest applicable to EMIs is 16% per annum.
  • The foreign currency markup fee on this credit card is 3.5% of the total transaction amount.

YES Bank EMI Credit Card Eligibility Criteria

You also need to fulfill certain eligibility requirements in order to get approved for the YES Bank’s EMI Credit Card. These eligibility criteria are given below:

  • The age of the applicants should be between 21 years and 60 years.
  • The applicant should either be self-employed or salaried and should fulfill the below-mentioned income requirements:
    – Self Employed People: at least 5 lakhs per year.
    – Salaried: at least 25,000 per month.
  • The applicant should have a decent credit score.

How To Apply For The YES EMI Credit Card?

You can apply for the YES Bank’s EMI Credit Card online as well as offline at your convenience. If you want to apply offline, just visit your nearest YES Bank branch with all the necessary documents and apply for the card by filling out the physical application form. To apply online, you can follow a few simple steps that are given below:

  • Visit the YES bank’s official website.
  • Click on the option ‘Apply Credit Card Digitally.’
  • Enter all the required details carefully.
  • Proceed further to apply for the card and submit the form.

Bottom Line

The EMI Credit Card is a newly launched card that comes with some unique features, including automatic EMI conversion. With such an affordable annual fee, it offers great cashback benefits and other benefits also. If you find it difficult to pay for large purchases made using your credit card, this is probably the best option for you. Your large transactions will automatically be converted to EMIs, which will help you pay for your purchases easily in monthly installments. If the YES Bank EMI Credit Card seems to be a good option for you, you should definitely go for it. Moreover, if you have any further doubts, you can freely ask us in the comment section below!

FAQs:

No, the EMI Credit Card is not lifetime free. It comes with an annual fee of Rs. 499.

A processing fee of 1% is applicable on the automatically transacted EMIs with the YES Bank’s EMI Credit Card.

No, you don’t earn cashback on EMI transactions with this credit card. On other purchases, it offers up to 3% cashback.

The cashback is directly credited to your account within 90 days and is adjusted against your card’s outstanding balance.

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