SBI Debit Card Emi

• Users can get credit limit of up to Rs.1 lakh
• Options for flexible tenure: 6/9/12/18 months
• Applicable Interest rate: 2-year MCLR plus 7.50%. Effective interest rate comes to 15.10% as per latest MCLR rates.
• There is no processing fee
• Prepayment penalty: 3% of the amount prepaid
• Savings account balances are not blocked
• There is no paperwork and the funds are disbursed immediately
• The EMI facility can be used up to three times within the limit and time period communicated via SMS/E-mail
• You can either use online EMI, POS EMI or both – within the period and limit
• Just SMS DCEMI to 567676 from your registered mobile number to check your eligibility.
• The service is available to SBI's pre-approved customers.

How To Avail SBI Debit Card EMI Facility?

Debit Card EMI

1. Swipe your SBI debit card at the merchant store's POS terminal

2. The biller then selects on the POS device the brand EMI and SBI EMI choices

3. Enter the sum and the repayment tenure

4. The POS system verifies the customer's eligibility

5. If approved, enter your PIN and Hit "OK"

6. The EMI facility is activated & the POS receives a success message

7. The terms and conditions of the loan are mentioned on the charge slip

8. Customer signs the Terms & Conditions-containing charge slip

SBI Debit Card EMI for online purchases

1. Access retailer website where Billdesk or PayU payment gateway is offered.

2. Shop for the things you wish to buy and place them in your shopping cart.

3. Continue with the payment and select the "Easy EMI" option. Select SBI

4. You now choose an EMI Plan (6, 9, 12, or 18 months).

5. To check eligibility, you have to provide your mobile number.

6. The system checks your eligibility. If eligible, the SBI Login Page is displayed

7. You have to login with your online banking credentials to sign in and authenticate the transaction

8. For transaction authentication, the system requests OTP confirmation. Upon successful OTP confirmation, the customer is shown a success message with loan details.

If you have any questions, you can always call the SBI Customer Care for more information!

Rate Of Interest On SBI Debit Card EMI Facility

Other Charges

Important Points Regarding SBI Debit Card EMI Scheme

• The EMI Facility requires a minimum transaction amount of Rs. 8000.
• The loan is repaid in 6/9/12/18 equated monthly instalments (EMI).
• When you use this service, a Standing Instruction for the monthly instalment amount will be automatically created on your SB account.
• The loan amount is equal to the transaction amount, and the loan account is established upon acceptance of the Terms & Conditions outlined below.
• The loan cannot be used for anything other than purchasing products from our approved merchants'/partners' online and offline stores/shops.
• Only three transactions within the approved loan limit are eligible for EMI, both online and POS, and a single customer may not have more than three loan accounts in a calendar quarter.
• Failure to follow standing instructions due to insufficient account balance will result in a penalty charge.
• If the loan account is closed before the end of the quarter, you will not be eligible for another loan until the beginning of the next quarter. EMI transactions are limited to one per calendar quarter.
• Prepayment of EMIs in full or in part, as well as account closure before the end of the term, will result in prepayment charges of 3% of the prepaid amount.
• Cancellation of any successful EMI transaction is permitted only if the merchant agrees and must be made well before the end of the day or merchant settlement, whichever is earlier.

FAQs of SBI Debit Card EMI: