The payment to the merchant is thus borne by the bank on your behalf, and instead of making a one-time payment you repay in installments through the current or savings account linked to your debit card. With this facility, you can make a purchase, even if you do not have the full amount in your bank account.
| Debit Card EMI | ||
| Features & Benefits | Check Eligibility | How to Apply |
| How it Works | Debit Card EMI vs No-cost EMI | FAQs |
| EMI on Debit Cards by Top Banks | ||
Debit Card EMI Facility by Top Banks for October 2025
| Bank | Processing Fee | Tenure | Interest Rate (p.a.) | Popular Brands |
| HDFC Bank | Rs. 299 + GST | 3 to 24 Months | 16% – 20% | Flipkart, Amazon, etc |
| SBI | Nil (For 3 months tenure) & up to Rs. 269 + GST | 3, 6, 9, 12, 18 or 24 Months | 15.50% – 17.00% | Flipkart, Amazon |
| ICICI Bank | Rs. 199 + GST | 3, 6, 9 or 12 Months | 16.00% | Amazon, Flipkart, MakeMyTrip, etc |
| Kotak Mahindra Bank | Rs. 99 to Rs. 2,999 | 6, 8, 9, 10, 12, 18, 24 Months | 10% – 40% | Amazon, Flipkart, BYJU’s, Croma, Reliance Digital |
| Axis Bank | 1% of transaction amount or Rs. 100 whichever is higher | 3, 6, 9, 12, 18, 24 Months | For 3, 6 months- 14% For 9,12, 18 and 24 months- 16% |
Flipkart, Amazon, Freecharge, Croma, , Reliance Digital, etc. |
Note: The above mentioned debit card EMI details are updated as of October 2025.
Features & Benefits of Debit Card EMIs
- Debit card EMI tenure may differ between providers, usually up to 24 months
- Longer the EMI tenure on your debit card, the lower your monthly EMI amount will be
- Debit Card EMI is available on select transactions that exceed a minimum value, which may vary across banks
- Similar to the minimum threshold, the maximum transaction limit can vary between lenders
- No additional documents are required to avail this facility, as it can be accessed using your existing debit card.
Note: In case, you have surplus funds, you can make down payments for your EMIs, and clear your loans. Also, you can partially pay a bigger proportion of the purchase amount and partially opt for EMI. This, however, is based on the seller’s terms and conditions and may not be permitted by every bank.
Debit Card EMI Eligibility Check
You can check if you are eligible for availing debit card EMI via the SMS banking facility. For this you are required to send SMS via your registered mobile number. Here are SMS codes for checking eligibility of some of the top Debit card providers in India:
| HDFC Debit Card EMI | SMS ‘MYHDFC’ to 5676712 |
| SBI Debit Card EMI | SMS DCEMI to 567676 |
| ICICI Debit Card EMI | SMS DCEMI <space><last 4 digits of Debit Card number> to <5676766> |
| Kotak Debit Card EMI | DCEMI <space><Last 4 digits of Kotak Debit Card Number> to 5676788 |
| Axis Bank Debit Card EMI | SMS DCEMI XXXX (Last 4 digits of your Debit Card Number) to 56161600 |
Additionally you can also check merchant specific EMI options, such as Amazon Debit Card EMI and Flipkart Debit Card EMI by visiting the respective websites.
How to Apply for Debit Card EMI?
Follow the below-mentioned steps to opt for the EMI on Debit Card facility:
- On the payments page, choose the option ‘Debit Card EMI’ and enter the EMI tenure from the available options. Generally, you can opt for a tenure ranging from 3 to 12 months but this may vary across the vendor or the bank
- On choosing the tenure, authenticate the transaction by entering Debit Card details such as CVV, expiry date, card number, and savings or current account details
- Further, enter the OTP received on the registered mobile number
- As and when the transaction is approved, the required amount is credited to your account and full payment is made to the merchant.
This amount is later deducted from your linked bank account on a monthly basis as per the chosen tenure. To pay this EMI you can choose an automated payment option wherein the EMI amount is automatically deducted from your savings or current account. However, you can also go for a down payment in the middle of the EMI cycle, if you have enough funds in hand. However, foreclosing the loan and prepayment of EMIs might incur charges.
Apart from online shopping portals, you can choose the Debit Card EMI facility even at Point-of-Sale (POS) terminals across physical retail outlets. For this, you need to swipe your card at the POS machine at the merchant store and enter the amount and tenure. If the transaction is eligible for the EMI facility, the loan amount is transferred. In this case, you must collect the charge slip containing terms and conditions.
How Does Debit Card EMI Work?
The following example illustrates how a debit card EMI functions:
Suppose you want to make a payment of Rs. 18,000 at Amazon and opt for the Debit Card EMI facility with a tenure of 3 months. On approval via the bank and the merchant, the amount of Rs. 18,000 will be credited to your bank account, via which a direct payment will be made to Amazon. This Rs. 18,000 will then be retrieved via fixed EMI as per the tenure chosen by you (3 months). Thereby, for three months you will pay an EMI of Rs. 6,000 (+interest and processing charges if applicable).
In a way, the bank gave you a loan of Rs. 18,000 which you later repay in EMIs. Therefore, for your purchase, it is the bank that makes the payment to your merchant which you have to pay over a few months. Note that interest and processing fee is charged on these EMI payments, which may vary from bank to bank.
How is Debit Card EMI different from No Cost EMI?
Debit Card EMI is often confused with No Cost EMI or Zero-cost EMI, however, these two are different modes of payment. In the case of No Cost EMIs, you are not bound to pay any price over and above the price of the product for which you have availed the EMI. This means that a no-cost EMI does not include any processing fee or interest charges.
Also, even if any charge is applicable, it is adjusted in the form of a discount, which ultimately makes the total EMI equivalent to the product’s price. No-cost EMI option is offered on the basis of merchant and bank tie-ups or on the basis of ongoing offers, which may vary from time to time.
This is not the case with the Debit Card EMI facility. The amount is transferred to your bank account in the form of a loan. Thereby, you are required to pay interest charges and processing fees. The EMIs, in this case, include interest charges, which makes the EMI total greater than the product’s price.
For Example: Suppose you purchase a product of Rs. 18,000 for a tenure of 3 months. In the case of debit card EMI, you will also be charged a processing fee of Rs. 99 and an interest rate of 12% per annum (1% per month). Based on this, your EMI will be as follows:
| Tenure | EMI in case of No-Cost EMI | EMI in case of Debit Card EMI* |
| 1st month | Rs. 6,000 | Rs. 6,000+ Rs 99 (One time processing fee) + Rs. 180 (1% of Rs. 18000)= Rs. 6,279 |
| 2nd month | Rs. 6,000 | Rs. 6,000+ Rs. 120 (1% of Rs. 12000) = Rs. 6,120 |
| 3rd month | Rs. 6,000 | Rs. 6,000+ Rs. 60 (1% of Rs. 6000)= Rs. 6,060 |
| Total Amount Paid | Rs. 18,000 | Rs. 18, 459 |
*Calculation is done on the basis of the daily reducing balance.
FAQs
Q. Can I get EMI on debit card?
You can avail EMI on debit card for making online and offline purchases, even when you don’t have enough funds in your bank account at the time of making a purchase. However, the credit limit may vary depending upon your financial behaviour. You can check your credit card eligibility by following the details here.
Q. How is debit card EMI different from credit card EMI?
Both debit cards and credit cards offer EMI facilities. However, EMI on a debit card can only be availed directly, wherein the merchant converts the purchase into EMI, as per the chosen tenure at the time of purchase. Also, not all transactions are eligible for Debit Card EMI, as the terms and conditions may vary across all merchants and banks.
For example, one bank may allow transactions above Rs. 5,000 to be converted to EMIs, while others may even allow transactions greater than Rs. 2,000.
In the case of Credit Card EMI, along with direct merchant EMI conversions, you can also convert your outstanding balances into EMIs. Another important differentiator is that debit card EMI is usually offered across selected merchants, whereas in case of credit cards, the EMI facility is available across most transactions made across e-commerce platforms, merchant websites as well as on in-store purchases.
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Q. What is a No-cost EMI on a debit card?
A No-cost EMI is offered on debit cards on the basis of merchant-bank tie-ups. Usually, debit card EMIs come along with processing fees, and interest charges, however, in the case of no-cost debit card EMIs, you end up paying the total amount only equivalent to the purchase made and not beyond it.
Q. Which bank gives EMI on debit card?
Some of the top banks offering EMI on debit card are HDFC Bank, SBI, ICICI Bank , Axis Bank & Kotak Mahindra Bank. You can check details about these banks in the above section, and can eligibility here.
Q. Are all debit cards eligible for debit card EMI facility?
EMI on debit card is offered across selected merchants, as per the Bank and merchant agreement. However, the approval for EMI payments is solely based on Banks’ discretion. At times the merchant will show you the Debit card EMI offer, but it may not be approved by the bank based on factors such as debit card type, minimum account balance maintenance, or bank account type.
You can check if your debit card is eligible for EMI payment after putting in the required card details at the merchant’s payment portal. Apart from that, you can also contact your Bank’s customer care. If you are eligible you will receive a confirmation via SMS or email.
Q. How can I activate EMI on debit card?
You can activate EMI on debit card at the merchant’s page or by contacting the bank’s customer care for the same.
Q. What additional charges are applicable on debit card EMI?
Apart from interest rate and processing fee, debit card EMI may include some other charges as well. These include late payment charges, foreclosure charges, etc. These charges may vary from bank to bank.