Financial strategies for managing EMI debt and credit card installments

Financial experts and banking services provide guidance on managing Equated Monthly Instalments (EMI) and credit card debt. To balance debt repayment with savings, personal finance coach Aruna Keerthy recommends a three-step approach: reducing or pausing negotiable expenses to create breathing room, avoiding new EMIs while clearing existing debt, and redirecting funds from completed installments or salary increments directly into savings rather than increasing lifestyle spending.

Additionally, credit card users can manage large purchases by converting them into EMIs through various banking facilities. This allows for repayment in fixed monthly installments over a selected tenure for eligible transactions, such as consumer electronics, home appliances, furniture, and medical expenses. Eligibility, interest rates, and available tenures vary by bank and specific transaction.