Last Updated: Feb 2026 | Reading Time: 9 mins | Market: USA + India
Quick Answer: Amex EMI is a feature that lets you convert a large credit card purchase or outstanding balance into fixed monthly installments instead of paying it all at once or carrying expensive revolving debt. In the USA, it is called Plan It® — a fixed monthly fee structure on eligible purchases. In India, it is a formal EMI conversion across 3, 6, 12, or 24-month tenures at a fixed interest rate. Both work on the same core principle: predictable fixed payments, lower effective cost than revolving credit.
What Is Amex EMI? — Core Definition
EMI stands for Equated Monthly Installment — a fixed amount you pay every month over a set period to repay a debt. Rather than paying a large purchase amount in one lump sum or carrying it as an expensive revolving balance, EMI breaks it into equal, predictable monthly payments that include both principal repayment and interest.
American Express offers EMI functionality in both its key markets — but the product is structured differently in each:
| Feature | Amex EMI (India) | Amex Plan It® (USA) |
|---|---|---|
| Product Name | EMI Conversion | Plan It® |
| Tenure Options | 3, 6, 12, 24 months | 3, 12, 18, 24 months (varies by transaction) |
| Cost Structure | Fixed interest rate (p.a.) | Fixed monthly plan fee (not APR) |
| Applies To | Eligible transactions + statement balance | Eligible purchases of $100 or more |
| No-Cost Option | Yes — at select partner merchants | No — always a fee |
| Where to Activate | Amex India app, website, customer care | Amex USA app, website |
| Effect on Credit Limit | Reduces available revolving limit | Separate Plan balance, no APR accrual |
Both products achieve the same outcome: you pay a known, fixed amount every month and eliminate the risk of compounding revolving interest at 36%–42% p.a. (India) or 15.99%–29.99% APR (USA).
🧮 Model any Amex EMI scenario instantly. Use the Free Amex EMI Calculator → — enter your purchase amount, interest rate, and tenure to see your exact monthly installment and total interest cost.
Amex EMI in India — How It Works
In India, Amex EMI works by converting either a specific eligible transaction or your outstanding statement balance into a structured repayment plan at a fixed interest rate over your chosen tenure.
The Core Mechanics
Step 1 — A transaction posts to your Amex India account You make a purchase — say ₹60,000 at an electronics store. It appears on your Amex statement as a regular transaction.
Step 2 — You request EMI conversion Through the Amex India app, website, or by calling customer care, you request to convert that ₹60,000 transaction to an EMI plan. You choose your tenure: 3, 6, 12, or 24 months.
Step 3 — Amex calculates your monthly EMI Using the standard EMI formula (detailed below), Amex calculates your fixed monthly installment. This includes both the principal component and the interest component for each month.
Step 4 — EMI appears on monthly statements Each month, your Amex India statement shows the EMI installment amount as a line item. You pay this along with any other current charges.
Step 5 — EMI clears after final payment After your final installment, the transaction is fully paid off. Your credit limit is restored proportionally as each installment is paid.
Interest Rates on Amex India EMI
Amex India EMI interest rates are typically lower than the revolving credit rate — making EMI conversion a financially smarter choice when you cannot pay in full:
| Tenure | Typical EMI Interest Rate (p.a.) | Monthly Rate |
|---|---|---|
| 3 months | 12% – 15% p.a. | 1.0% – 1.25% per month |
| 6 months | 13% – 16% p.a. | 1.08% – 1.33% per month |
| 12 months | 14% – 18% p.a. | 1.17% – 1.5% per month |
| 24 months | 15% – 20% p.a. | 1.25% – 1.67% per month |
| Revolving balance | 36% – 42% p.a. | 3.0% – 3.5% per month |
EMI rates are indicative and vary by card type, transaction amount, and Amex India’s current offers. Always confirm the exact rate in the Amex India app before converting.
Key Insight: Even the longest 24-month EMI tenure at 20% p.a. costs less than half the interest of revolving credit at 36%–42% p.a. For any large purchase you cannot pay in full, EMI is almost always the financially superior choice.
Types of Amex EMI in India
There are three distinct types of EMI available on Amex India cards — understanding the difference is important before converting.
1. Transaction-Based EMI
The most common type. A specific eligible transaction is converted to an EMI plan after it posts to your statement. You choose the tenure, Amex calculates the monthly installment, and the transaction is repaid over that period at the agreed rate.
Best for: Single large purchases — appliances, electronics, furniture, travel bookings — that you want to spread over 3–24 months.
Key condition: Not all transactions are eligible. Transactions below a minimum amount (typically ₹5,000), cash advances, fuel purchases, and some categories may not qualify. Eligibility is shown in the Amex India app after the transaction posts.
2. Statement Balance EMI
Instead of converting individual transactions, you convert a portion of or your entire outstanding statement balance to an EMI plan. This is particularly useful when you have accumulated a large balance across multiple transactions and want to restructure it all at once.
Best for: Cardholders who have built up a large outstanding balance and want to get out of the revolving interest cycle with one EMI plan.
Key condition: Available subject to Amex India’s approval and your card’s terms. The interest rate may differ from transaction-based EMI.
3. No-Cost EMI
The most sought-after type — zero interest, zero processing fee. The merchant absorbs the EMI cost (often funded by the brand as a promotional offer), and you pay only the principal divided across the tenure months.
Best for: Large purchases at partner merchants (major electronics brands, appliances, fashion) where No-Cost EMI is explicitly offered as a payment option.
Key conditions:
- Available only at Amex India’s partner merchants — not universally
- Tenures are typically limited (3, 6, or 9 months depending on the merchant offer)
- The transaction must be processed through the merchant’s No-Cost EMI payment gateway
- Some merchants add a processing fee even on “No-Cost” EMI — verify before confirming
🧮 Compare No-Cost EMI vs standard EMI vs revolving credit for your specific purchase amount. Use the Amex EMI Calculator → to see the numbers side by side instantly.
Amex EMI Formula — How the Monthly Installment Is Calculated
The standard EMI formula used by Amex India is the same formula used across all Indian credit card and loan EMI calculations:
The EMI Formula
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
Where:
- P = Principal amount (the transaction or balance being converted)
- r = Monthly interest rate (Annual rate ÷ 12)
- n = Number of monthly installments (tenure in months)
Worked Example — India
EMI Quick Reference Table — ₹1,00,000 Principal
| Tenure | Rate (p.a.) | Monthly EMI | Total Interest | Total Paid |
|---|---|---|---|---|
| 3 months | 13% | ₹33,864 | ₹1,593 | ₹1,01,593 |
| 6 months | 14% | ₹17,227 | ₹3,362 | ₹1,03,362 |
| 12 months | 15% | ₹9,027 | ₹8,324 | ₹1,08,324 |
| 24 months | 18% | ₹4,992 | ₹19,808 | ₹1,19,808 |
| Revolving (36% p.a.) | 36% | Min ~₹5,000 | ₹36,000+ | ₹1,36,000+ |
EMI figures calculated using standard reducing balance formula. Revolving estimate assumes minimum payment only over extended period.
Amex Plan It® in the USA — How It Works
In the United States, American Express calls its EMI feature Plan It®. While the core concept is identical — convert a purchase into fixed monthly payments — the cost structure is different from the Indian EMI model.
Key Difference: Fee vs Interest Rate
Plan It® charges a fixed monthly plan fee (expressed as a dollar amount or percentage of the plan balance each month) rather than an annual interest rate. This fee is calculated at the time you create the plan and remains fixed for the plan duration.
How Plan It® Works — Step by Step
Step 1: Make an eligible purchase of $100 or more on your Amex USA card
Step 2: After the charge posts, open the Amex app or website and look for the Plan It® offer on that transaction
Step 3: Amex shows you the available plan options — typically 3, 12, 18, or 24 months. Each option shows the fixed monthly payment amount and the monthly plan fee
Step 4: Select your preferred plan. The purchase is removed from your revolving balance and placed into a separate Plan balance
Step 5: Your monthly statement shows both your revolving balance (with standard APR) and your Plan balance (with fixed fee only — no APR accrual on the plan amount)
Step 6: Pay the monthly plan installment each month until the plan is complete
Plan It® Cost Example
Purchase: $2,000 laptop Plan It® tenure chosen: 12 months Monthly plan fee (example): 1.23% of original plan amount per month
- Monthly plan fee = $2,000 × 1.23% = $24.60/month
- Monthly principal = $2,000 ÷ 12 = $166.67/month
- Total monthly payment = $191.27/month
- Total plan fees paid = $24.60 × 12 = $295.20
- vs Revolving at 24.99% APR: approximately $550+ in interest over the same period
Important: Plan It® fees are NOT expressed as APR — this makes direct comparison with revolving APR less intuitive. Always compare the total dollar amount paid under Plan It® vs the total interest you would pay carrying the charge as revolving debt.
Which Amex USA Cards Offer Plan It®?
Plan It® is available on most Amex USA credit and charge cards including:
- Amex Platinum Card®
- Amex Gold Card
- Amex Green Card
- Blue Cash Preferred®
- Blue Cash Everyday®
- Amex EveryDay® and EveryDay Preferred®
Eligibility per transaction is determined by Amex and shown in the app after a charge posts — not all transactions on eligible cards will always show a Plan It® offer.
Amex EMI vs Revolving Balance — Cost Comparison
This comparison makes the financial case for EMI over revolving credit clearer than any explanation:
India — ₹1,00,000 Purchase Comparison
USA — $3,000 Purchase Comparison
| Payment Method | Monthly Payment | Duration | Total Fees/Interest | Total Cost |
|---|---|---|---|---|
| Pay in Full | $3,000 | 1 month | $0 | $3,000 |
| Plan It® 12 months | ~$287 | 12 months | ~$443 | ~$3,443 |
| Plan It® 24 months | ~$152 | 24 months | ~$648 | ~$3,648 |
| Revolving (24.99% APR) | Minimum ~$75 | 5+ years | $825+ | $3,825+ |
Conclusion: In both markets, EMI costs significantly less than revolving credit for the same purchase amount over the same effective repayment period. The only scenario where revolving wins is if you genuinely intend to pay off the balance in 1–2 billing cycles — in which case the interest may be marginal. For anything beyond 2 months, EMI is cheaper.
🧮 See your exact numbers. Enter your purchase amount, interest rate, and tenure into the Amex EMI Calculator → and instantly see your monthly EMI, total interest, and total cost — side by side with revolving interest for the same amount.
Who Can Use Amex EMI?
India Eligibility
- Any active Amex India credit card in good standing
- Transaction must be above the minimum threshold (typically ₹5,000)
- Transaction must be in an eligible merchant category (cash advances, fuel, and some categories excluded)
- Account must not be in default, over-limit, or under any restriction
- EMI request must be made within a specific window after the transaction posts (typically within the same or next billing cycle — confirm in the Amex India app)
USA Eligibility (Plan It®)
- Active Amex USA credit or charge card in good standing
- Purchase must be $100 or more
- The Plan It® option must appear in the Amex app for that specific transaction — not all eligible transactions will always show the offer
- Account must be in good standing with no recent missed payments
Amex EMI — Key Terms and Conditions
India Key Terms
Processing Fee: Some Amex India EMI plans charge a one-time processing fee (typically 1%–2% of the principal) in addition to the monthly interest. Always check the fee disclosure before confirming conversion.
Foreclosure / Prepayment: You can close an Amex India EMI plan early (foreclose it). However, Amex India charges a foreclosure fee — typically 3% of the outstanding principal at the time of foreclosure. Factor this in if you think you may want to pay off the EMI early.
Effect on Credit Limit: The principal amount of the EMI plan is blocked from your available credit limit for the duration of the plan. As each installment is paid, the corresponding amount is released back to your available limit.
Failed EMI Payment: If you miss an EMI installment, the unpaid amount reverts to your revolving balance and accrues interest at the standard revolving rate (36%–42% p.a.) from the missed date. Late payment fees also apply.
GST on Interest: In India, GST is applicable on the interest/finance charges component of your EMI — this is added to your statement separately and increases the effective cost marginally. Always factor in GST when comparing the quoted EMI rate with the total actual cost.
USA Key Terms (Plan It®)
Plan Fee Disclosure: Amex USA shows the total plan fee and monthly plan fee amount before you confirm Plan It®. There is no hidden fee — what is shown at creation is what you pay.
No APR on Plan Balance: The Plan It® balance does not accrue your card’s standard purchase APR — you pay only the fixed monthly plan fee. This is a key advantage over revolving debt.
Plan Cancellation: You can cancel a Plan It® plan. The remaining balance returns to your revolving balance and begins accruing your standard purchase APR from that point.
Multiple Plans: You can have multiple Plan It® plans running simultaneously on the same card.
Minimum Payment: Your monthly minimum payment includes both your revolving balance minimum AND your Plan It® installment(s). Missing the minimum affects all balances.
Frequently Asked Questions
What is Amex EMI?
Amex EMI is American Express’s feature that lets cardholders convert eligible purchases or outstanding balances into fixed monthly installments over a set tenure. In India, it is called EMI conversion and operates over 3, 6, 12, or 24-month tenures at a fixed annual interest rate. In the USA, it is called Plan It® and charges a fixed monthly fee rather than an APR on the plan balance.
How does Amex EMI work in India?
After an eligible transaction posts to your Amex India statement, you request EMI conversion through the Amex app, website, or customer care. You choose a tenure (3, 6, 12, or 24 months), Amex calculates your fixed monthly EMI using the standard reducing balance formula, and the installment appears on your statement each month until the plan is complete. The interest rate on Amex India EMI (typically 12%–20% p.a.) is significantly lower than the revolving credit rate (36%–42% p.a.).
What is Amex Plan It® in the USA?
Plan It® is Amex USA’s instalment payment feature. For eligible purchases of $100 or more, you can convert the charge into a fixed payment plan over 3–24 months. Instead of an APR, Plan It® charges a fixed monthly plan fee. The plan balance does not accrue your card’s standard purchase APR — making it significantly cheaper than carrying the same amount as revolving debt at 19%–29.99% APR.
What is No-Cost Amex EMI?
No-Cost EMI is an Amex India EMI option available at select partner merchants where the merchant subsidises the interest cost — meaning you pay zero interest and zero processing fee, repaying only the principal spread equally across the tenure. It is typically available for 3, 6, or 9 months and is offered at major electronics, appliance, and fashion retailers. It is not universally available across all merchants or all Amex India cards.
Can I foreclose my Amex EMI early in India?
Yes — you can foreclose an Amex India EMI plan before the tenure ends. However, Amex India charges a foreclosure fee (typically 3% of the outstanding principal at the time of foreclosure). If you are considering early foreclosure, calculate whether the interest savings from closing early exceed the foreclosure fee cost. Use the Amex EMI Calculator to model this.
Does Amex EMI affect my credit limit?
In India, yes — the principal amount of an active EMI plan is held against your credit limit. As each monthly installment is paid, the corresponding portion of your credit limit is restored. In the USA, Plan It® balances are maintained separately from your revolving balance but are still part of your overall account balance reported to credit bureaus.
What is the minimum amount for Amex EMI in India?
The minimum transaction amount eligible for EMI conversion on Amex India cards is typically ₹5,000. Transactions below this threshold are generally not eligible. The exact minimum may vary by card product — always check eligibility in the Amex India app after a transaction posts.
🧮 Ready to calculate your Amex EMI? Enter your principal, rate, and tenure into the Free Amex EMI Calculator → — see your monthly installment, total interest, and full amortization schedule instantly. No login needed.
📌 Related Reading: How to Convert Amex Transaction to EMI — Step-by-Step Guide | How Amex Calculates Minimum Payment, Credit Limit & Billing Cycle | Amex EMI Calculator — Free Tool
Disclaimer: EMI rates, tenures, fees, and terms are subject to change. Always verify current rates and conditions in the Amex India app or at AmericanExpress.com/in before converting. This article is for informational purposes only and does not constitute financial advice.