YES Bank EMI Credit Card – Benefits, Fees & Eligibility

EMI Credit Card

Introduction

The EMI Credit Card by YES Bank is designed for individuals who seek flexibility in managing their expenses, allowing them to shop now and pay later with convenient EMI options. This card specializes in hassle-free automatic conversion of large transactions into easy monthly installments, offering tenures ranging from 3 to 12 months. It aims to provide an ultimate shopping experience with flexible payments and financial freedom, coupled with attractive cashback benefits on various transactions and an annual fee that can be waived through specific spending.

Welcome Benefits

• Get a FREE Amazon voucher worth ₹500 on spending ₹1,000 within the first 30 days. *Terms and Conditions apply.

Fees

• Joining Fee: INR 499 + applicable taxes.
• Renewal Fee: INR 499 + applicable taxes.
• Spend-Based Waiver: The renewal fee is waived on total retail spends of INR 1,20,000 or more within 12 months prior to the card renewal date.
• Rewards Redemption Fee: Nil.
• Interest Rates:
  • On Revolving Credit, Cash Advances, and Overdue Amount: 3.99% per month (47.88% annually).
  • On Auto-Converted EMIs: 16% per annum on the monthly reducing outstanding balance.
  • Note: Effective April 1, 2025, the applicable interest rate for EMIs will be revised to 18%.
• EMI Processing Fee: 1% of the transaction amount for auto-EMI conversions.
• Foreign Currency Markup: 3.5% of the total transaction amount.
• Fuel Surcharge:
  • A 1% fee + applicable GST will be levied on every fuel transaction of value greater than INR 10,000.
  • Effective October 15, 2025, the fee capping for fuel transactions is revised to INR 5,000 per transaction (previously INR 5,000 per calendar month).
• Cash Advance Charges: 2.5% of the withdrawn amount or a minimum of Rs. 500, whichever is higher.
• Rental Transaction Charges:
  • Capped at 5 transactions per 30 days.
  • For transaction amounts up to INR 1,000: 1% of transaction value or INR 1, whichever is higher.
  • For transaction amounts above INR 1,000: 1% of transaction value or INR 199, whichever is higher.
• Wallet Transaction Charges: Minimum 1% of transaction value or Rs 1, whichever is higher.
• Utility Charges: 1% + applicable GST will be applicable on all utility transactions on spends above INR 15,000 in a month. Fee capped at Rs. 3,000 in a month.
  • Example: Utility Spends of INR 10,000 in a month will not attract any charges as it is below the threshold.
  • Example: Utility Spends of INR 20,000 in a month will attract 1% fee of INR 200 + taxes as it is above the threshold.
• Education Fee Payment Charges (applicable from October 1, 2024 onwards): 1% fee + applicable GST will be levied on education transactions done through third-party websites and applications including (but not limited to) CRED, PhonePe, Housing.com, No-broker, Cheq, etc., in a calendar month. Fee capped at INR 5,000 per calendar month.
• Tolls/Bridges Transaction Charge (Effective October 15, 2025): 1% fee + applicable GST will be levied on every tolls/bridges transaction of value greater than INR 10,000. Fee will be capped at INR 5,000 per transaction.
  • Example: Tolls/bridges Transaction of INR 9,000 will not attract any fee as it is below the threshold.
  • Example: Tolls/bridges Transaction of INR 20,000 will attract 1% fee of INR 200 + applicable GST as it is above the threshold.

Rewards

• Cashback Benefits:
  • Earn 3% cashback on selected merchant transactions through YES Cart, capped at Rs. 1,000 per month.
  • Earn 1% cashback on all other retail purchases, capped at Rs. 500 per month.
  • No cashback is earned on transactions that are converted into EMIs.
• Automatic EMI Conversion:
  • All transactions above Rs. 5,000 are automatically converted into EMIs.
  • Transactions eligible for automatic EMI conversion include:
    • Rs. 5,000 to Rs. 10,000: 16% per annum interest, 3 months tenure.
    • Rs. 10,001 to Rs. 20,000: 16% per annum interest, 6 months tenure.
    • Rs. 20,001 to Rs. 5,00,000: 16% per annum interest, 12 months tenure.
  • The eligible transaction amount is converted to EMI within 5 working days from the purchase date.
  • An interest rate of 16% per annum is applicable on the monthly reducing outstanding balance for EMIs (will be 18% from April 1, 2025).
  • An EMI processing fee of 1% is applicable on auto-EMI conversions.
• Instant EMI: Pay in parts for transactions as low as ₹1,500 at over 80,000 partner stores.
• EMI on Call: Convert payments into EMI with on-call service at attractive interest rates.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on all fuel purchases between Rs. 400 and Rs. 5,000, with a maximum waiver capped at Rs. 250 per statement cycle.

Rewards Redemption Guide

• The cashback earned using this card in a month is automatically credited to the cardholder's account within 90 days from the last date of that particular month.
• The credited cashback is adjusted against the card's outstanding balance.
• Cashback can be redeemed by utilizing the card itself for purchases.

Card Eligibility Criteria

• Age: Applicants should be between 21 and 60 years of age.
• Employment Status: Applicant should either be self-employed or salaried.
• Income Requirements:
  • Minimum Net Salary: INR 25,000 per month.
  • Minimum Income Tax Return (ITR): INR 7.5 lakhs and above (for salaried or self-employed).
  • For Self-Employed Individuals: at least 5 lakhs per year (ITR).
• Credit Score: The applicant should possess a decent credit score.
• Existing Cardholders: If you are already holding any YES BANK Credit Card, you are not eligible for this card. However, existing Mastercard/Visa holders can apply for a Virtual RuPay Card variant.

Card Review

The EMI Credit Card is an excellent choice for individuals who prefer to manage large expenses by converting them into easy monthly installments rather than paying the full amount upfront. It is best suited for shopping. This newly launched card stands out due to its unique feature of automatic EMI conversion for eligible transactions, offering significant flexibility in payments. With an affordable annual fee, which can be waived based on annual spending, it provides substantial value. The card offers attractive cashback benefits on both selected merchant transactions via YES Cart and other retail purchases, making it a rewarding option for everyday spending (though no cashback is earned on EMI transactions). Overall, the EMI Credit Card delivers a flexible payment solution, decent rewards, and the joy of financial freedom for mindful spenders, simplifying large purchases into manageable monthly payments.

Important Product Details

• Hassle-free Automatic EMI Conversion: Transactions above Rs. 5,000 are automatically converted into EMIs, simplifying large purchase payments.
• Flexible EMI Options: Choose from 3, 6, or 12 months tenure with a 16% per annum interest rate (changing to 18% from April 1, 2025).
• Cashback Benefits: Earn up to 3% cashback on selected transactions through YES Cart and 1% cashback on other retail purchases (not applicable on EMI conversions).
• Spend-Based Waiver: The annual renewal fee can be waived on spending Rs. 1.2 lakhs or more in the preceding year.
• Fuel Surcharge Waiver: Enjoy a 1% waiver on fuel purchases between Rs. 400 and Rs. 5,000, capped at Rs. 250 per month.
• Instant EMI: Convert eligible transactions as low as ₹1,500 at over 80,000 partner stores.
• EMI on Call: Quickly convert transactions into EMIs with attractive interest rates via a phone call.
• Quick Loan: Access loan amounts within your credit card limit to fulfill immediate fund requirements.
• Express Loan: Get a pre-approved loan at an attractive interest rate on your credit card without blocking your existing credit limit.
• YES PayNow: Ensures that your bills are paid on time every month.
• E-Mandate: Allows you to register standing instructions for various recurring payments, including bills, subscriptions, and insurance.

Other Details

• How to Apply for the EMI Credit Card:
  • Online Application:
    • Visit the official YES Bank 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.
  • Offline Application:
    • Visit your nearest YES Bank branch.
    • Carry all necessary documents.
    • Fill out the physical application form.
• Customer Care Contact Information:
  • For MARQUEE/ RESERV / YES First Cards:
    • Toll Free (for Mobile & Landlines in India): 1800 103 6000
    • When Calling from Outside India: +91 22 5079 5101
    • Email: yesfirstcc@yesbank.in
  • For All Other Credit Cards (including EMI Credit Card):
    • Toll Free (India): 1800 103 1212 / 1860 210 1200
    • When Calling from Outside India: +91 22 5079 5101
    • Email: yestouchcc@yesbank.in
• Easy Ways to Make YES BANK Credit Card Bill Payment:
  • For YES BANK Account Holders:
    • NetBanking: Register for YES BANK NetBanking and make Credit Card payments online.
    • Standing Instruction: Submit a written instruction to automatically debit a pre-determined portion of your monthly outstanding from your Savings/Current Account to your Credit Card Account.
  • For All Customers:
    • NEFT/IMPS/RTGS: Make your payment through NEFT/IMPS/RTGS fund transfer mode from other bank accounts. Add your YES BANK Credit Card as a beneficiary. Use IFSC code: YESB0CMSNOC.
    • Billdesk: Utilize the Billdesk facility (link available on the website).
    • Cheque Payment: Make your Credit Card payment by cheque, quoting your 16-digit Credit Card Number, and drop the cheque at any YES BANK drop box in your city. Please mention your name and mobile number on the back of the cheque.
    • Cash Payment: You can also make payment through Cash at YES BANK Branches (charges applicable as per the schedule of charges in the Most Important Terms & Conditions).
• Important Documents Available for Download:
  • Fair Practice Code for Credit Card Operations (PDF, 154 KB)
  • Code of Bank’s Commitment to Customers (PDF, 391 KB)
  • Authorized Collection & Recovery Agencies (PDF, 86 KB)
  • Credit Card - Cardmember Agreement (PDF, 2.98 MB; updated on October 7, 2024)
• Downloadable Forms:
  • EMI Card Terms & Conditions (PDF, 121 KB)
  • EMI Card MITC (PDF, 160 KB) available in English, Gujarati, Bengali, Hindi, Kannada, Tamil, Marathi, Punjabi, Telugu.
• Quick Links:
  • Track your Credit Card application.
  • Locate your nearest branch.
  • Save your YES BANK Credit Card on multiple merchants.
  • Get Credit Card e-Welcome Kit.
• Credit Card Services:
  • Generate your Credit Card PIN.
  • Rewards Subscription Plan.
  • Card Control for enhanced security.
  • Card Protection Plan.
  • Block your Credit Card.
  • Activate your card and create a PIN.