Yes, indirectly. An active EMI plan still counts as an outstanding obligation against your credit card's balance and your overall debt-burden ratio, meaning it's factored into a new bank's affordability assessment the same way any other existing repayment commitment would be. Having one or more active EMI plans doesn't automatically disqualify you from a new loan, but it does reduce the headroom within your overall debt-burden ratio, which can lower the maximum amount a new lender is willing to approve.
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