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Credit Card Closed But EMI Still Running? Know Your Options Now!
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CNBC Awaaz•04-10-2026, 19:57
Credit Card Closed But EMI Still Running? Know Your Options Now!
- •Closing a credit card does not automatically end all associated liabilities, especially existing EMIs.
- •The card issuer determines how outstanding EMI amounts will be recovered, potentially through eNACH deductions from your bank account.
- •Before closing, confirm with the bank how remaining EMIs will be paid and maintain sufficient balance in linked accounts to avoid penalties.
- •Be aware that some banks may require immediate payment of all outstanding amounts, including foreclosure charges, before card closure.
- •Check and redeem reward points, and resolve any pending refunds or disputes before closing your credit card, as processes may change afterward.
Key Questions Answered
Closing a credit card does not cancel or end your ongoing EMI liabilities. The remaining amount must still be paid according to the terms of the EMI scheme and the card issuer's policies.
Card issuers may recover outstanding EMIs through policies such as automatic eNACH deductions from your bank account, or by billing the entire remaining principal amount at once before closing the card.
You should check your accumulated reward points before closing your card, as they may expire immediately or be subject to a limited redemption window depending on the card issuer's policy.
