How to convert your purchase into EMI via SBI Debit card

by Business | 07-09-2021 | 333 views

State Bank of India (SBI) offers an EMI facility for its customers using SBI debit cards in order to purchase consumer durables from merchant stores by swiping their cards at POS. They can also avail of this facility while buying online via e-commerce portals such as Amazon & Flipkart through SBI debit cards.

"A standing instruction equivalent to the monthly installment amount is set up on customers’ savings bank account automatically upon availing this facility," it said.

Here are the steps to avail debit card EMI and online EMI facilities via SBI:

Debit Card EMI

Step 1: Swipe SBI Debit Card on POS Machine at a merchant store

Step 2: Select - Brand EMI - Bank EMI

Step 3: Enter - Amount - Repayment tenor

Step 4: Enter PIN and press OK after the POS machine has checked the eligibility. The loan amount is booked after the successful transaction. A charge slip containing terms and conditions of the Loan is printed and the customer has to sign on the same.

Online EMI

Step 1: Login on Amazon or Flipkart from the mobile number registered with the bank

Step 2: Select the required brand article and proceed with payment

Step 3: Select the Easy EMI option from different payment options that appear and then select SBI

Step 4: The amount is auto fetched, enter the tenor and click on proceed.

Step 5: SBI Login page appears, enter the internet banking or Debit Card credentials. The loan is booked, terms and conditions are displayed, if accepted, the order is booked.

Using these, customers can avail the loan ranging from Rs 8,000 to Rs 1 lakh at an effective interest rate of 2-year, MCLR + 7.50 percent which is 14.70 percent at present. The bank claims to offer flexible tenure options of 6/9/12/18 months.

For the same, customers can check their eligibility by sending DCEMI to 567676 from their registered mobile number with the bank.

Website link for further details: https://bank.sbi/web/personal-banking/e-commerce-loan

Lets socialize : Share via Whatsapp