SBI Debit Card EMI

• If you are eligible for SBI debit card EMI, you just have to pay Rs. 2 to validate your debit card, and the remaining amount will be disbursed as a loan to be repaid via EMIs. No money will be blocked from your linked bank account
• SBI allows its customers to avail EMI facility 3 times within the eligible limit
  
• The debit card EMI facility offered by SBI is a form of loan, but SBI does not charge any processing fee for the same
• You have the flexibility to choose your choice of tenure ranging from 6 to 18 months, as per your convenience and repayment ability
• Because you are an existing customer of the bank, your loan request for EMI on a debit card is immediately granted. As a result, the money is disbursed immediately.  It is important to note that you do not need to show any documentation to obtain EMI on your debit card
• SBI card EMI offers to finance up to 100% of the loan amount without any down payment requirements for the customer

Fee Type	Details
Auto-debit Return Penal Rate	2% per month
Late Payment Fee	Rs. 500 plus GST @18%
Pre-closure Charges	3% of the prepaid amount
Rate of Interest	15.10%

You can check your eligibility for EMI on SBI debit card with your registered mobile number in the following ways:

• Via WhatsApp: Text ‘DCEMI’ to 567676

However, remember that the minimum loan amount is Rs. 8,000 and the maximum loan amount is Rs. 1 Lakh. When it comes to documentation, no documents are required to avail the EMI facility if you are an existing SBI customer.

Following are the processes to avail Online and Offline SBI debit card EMI-

Offline Debit Card EMI

1. Swipe your SBI Card on the POS Machine and any Merchant Store
2. Select – Brand EMI – Bank EMI
3. Enter the amount you wish to avail and the repayment tenure
4. Your eligibility will be checked by the POS machine
5. If deemed eligible, you will be prompted to enter your debit card PIN post this press OK
6. The loan amount will be booked and you will receive a charge slip containing the terms & conditions of the loan
7. You will need to sign the charge slip containing terms and conditions

Online Debit Card EMI

1. Debit card EMI can be availed only on merchant sites where Billdesk or PayU gateway is active
2. Choose the article
3. Proceed for payment
4. From the available payment options opt for “Debit/Credit Card”
5. From the available options select “SBI”
6. Choose EMI tenure (6, 9, 12 or 18 months)
7. Enter your registered mobile number to check your debit card EMI eligibility
8. Enter OTP for confirmation for authentication of transaction
9.  A message displaying transaction successful will be displayed on your screen

• SBI debit card EMI facility is offered to pre-selected SBI customers
• You can avail the EMI facility only within the given limit
• When you use this service, a Standing Instruction for the monthly instalment amount will be automatically created on your SB account
• The loan cannot be used for anything other than purchasing things from SBI’s approved merchants’/partners’ online and offline stores/shops
• 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 every calendar quarter
• SBI is not liable for any cashback offered by the merchant/OEM (Original Equipment Manufacturer). However, SBI will immediately pass on any cashback amount received from the merchant/OEM to the consumer

You can check in-detail terms and conditions associated with SBI Debit Card EMI, here.

FAQs

Q. What is SBI Debit Card EMI?

SBI Debit Card EMI is a banking facility offered by State Bank of India that permits eligible SBI debit cardholders to convert their high-value spends into smaller and easy Equated Monthly Installments (EMIs) over a chosen tenure. This facility is available for spends made on online platforms or merchant outlets.

Q. Who is eligible to avail SBI Debit Card EMI?

The eligibility shall depend on your SBI’s pre-approved offers, transaction history, relationship with the bank. If you want you can check your eligibility via SMS or while making a purchase at partner merchants.

Q. What are the available EMI tenures offered by SBI for its EMI facility?

SBI offers flexible EMI tenures from 6-12 months, depending on merchant and offer availability.

Q. Is it possible to pre-close or foreclose my SBI Debit Card EMI?

Yes, you can foreclose your SBI debit card EMIs before the end of the tenure, but you will have to pay foreclosure charges to the bank.

Q. If I do not have sufficient balance for EMI deduction then what will happen?

If your account balance is low or nil, the EMI will not be deducted, and you will have to pay the penalty charges. Any repeated defaults can affect your future eligibility to avail an EMI facility or even a loan from SBI.

Q. What is the customer care number of SBI if I want to clear doubts regarding Debit Card EMI?

You can call SBI Customer Care Toll Free numbers (1800-1234 / 1800-2100) or visit your nearest SBI branch for assistance.