Indian Railway Catering and Tourism Corporation, IRCTC has partnered with Citibank to let users pay for ticket fares in monthly instalments. This service is now live and you can book tickets in EMIs. This service is only available with Citibank credit cards subscribers. But we can expect other banks to join this soon.
To avail this service, users will need to click on EMI option on the payment screen instead of selecting other payment options. Users can then pay with Citibank in monthly instalments.
This will be helpful if you are trying to pay for premium train tickets which cost much more than normal train tickets. So, people can use EMI option. After this share the credit card details and pay. Entire amount will be deducted from credit card and transfered to IRCTC account. Bank will later release those funds in monthly installments.
It is only for Citibank Credit card users, so it will not be helpful for large number of people. But when more banks will join the IRCTC, it will surely be a useful feature for most of the people in India.
IRCTC has also launched its official Android app few days back to let users book tickets on the go.
