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December 1, 2023

Credit Cards: Pin Generation and EMI Calculator

Credit cards have taken the world by storm with a multitude of people dependent on them for all their expenses, from flagship devices to utility payments. Most people are well-informed about credit cards for the ‘cash-when-you-want-it’ feature that propels popularity. People also use credit cards these days as they warrant a high degree of affordability as you can avail of EMI. Nonetheless, some of us who think we’re savvy credit card users don’t know much about the way cards work, like knowing about the credit card interest rate, etc.

About Credit Cards 

Banks/credit card companies issue credit cards. They earn revenue through two avenues. One, is by fees they charge to restaurants, retailers and other sellers when card purchases are undertaken. The other way is from fees and interest they charge you, the user. Interest is generated when you don’t pay your credit card bill in full, on the balance which is carried forward. In case you use your credit card to make payments in EMIs, each repayment is made by you along with interest charged. Most banks have a credit card EMI calculator you can use to calculate how much interest you will have to pay on EMIs you take.

About Credit Card Interest Rate 

You should know how credit card interest is calculated and how its worked out, so that you are well-informed about any balances carried forward in case you don’t meet your bill payments in full. If you carry forward a balance amount on your card, credit card interest rate is calculated thus:

  • The balance amount is multiplied everyday by a daily rate of interest
  • The result of this is added to what you owe on your card
  • The daily rate of interest is your annual percentage rate (APR or annual interest rate) divided by days in a year, that is, 365.

About Credit Card EMI Calculator 

You can buy products and services on your credit card by paying for them in EMIs. Each credit card charges you a different interest rate on EMI payments, depending on the issuer, type of card, and your own credit profile. Some banks offer an online credit card EMI calculator according to the interest rate and EMI tenure, plus processing fees (if any), and you can easily find out how much interest you will pay on a credit card purchase in EMI. You can get to know more on how to convert credit card spending into EMIs at Finserv MARKETS.

About Credit Card Pin Generation 

A credit card is a great way to pay for items securely. You must generate a credit card pin (4-digit) to use it safely and judicially, when you avail credit card use. For a credit card pin generate, you can do it with help of the following:

  • ATM Machine
  • Internet Banking
  • Bank Website
  • Through IVR on Phone banking

End of the Road 

Owning a credit card and using it wisely lets you enjoy its benefits without stress. You can choose the best credit cards by selecting those that match your spending patterns and ones with appealing interest rates at Finserv MARKETS.


  1. Credit Card Pin Generation- How to Generate Credit Card PIN Online or Offline – 25 August 2021 (paisabazaar.com)
  2. Understanding Credit Card Interest (investopedia.com)
  3. Credit Card EMI Calculator – Check How to Calculate & Convert into EMI (bankbazaar.com)

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