How to Convert SBI Credit Card Payment to EMI?

Credit Cards come with a lot of perks for consumers and, at the same time, they pose a significant risk when misused. Credit card often comes to rescue when you have to make an urgent purchase without worrying about the money in your account. Most of the time we forget about our budget and get carried away when shopping, only to realize when making a payment.

With India moving towards a cashless society, shopping online is now a habit rather than a need.

Are you worried about the credit card bill being settled at once?

The good news is that you can now convert your SBI credit card bill to EMI online. This facility is offered to most credit cardholders through the Flexipay platform.

How to Convert SBI Credit Card Bill into EMI (Flexipay)?

With SBI Card, you can convert your purchases to simple installments. Individuals can opt to pay back big purchases in flexible installments that can be done in 3 simple ways:

• Internet Banking
• SMS
• Calling Customer care

How to Covert the SBI Card Bill into EMIs?

• Login to your SBI Card website using your Customer ID and Password
• Go to the 'Benefits' tab (located on the left panel)
• Under the drop-down menu and you have - select the 'Flexipay' option
• Your recent transactions will be visible
• Select the transaction that you want to convert
• Check the offers in the 'Flexipay Offer' option
• Convert your transactions into Flexipay purchase
• choose the tenure for repaying your bill
• Once you choose the tenure, you can see the exact EMI amount
• Accept the terms
• Confirm the order.

If the process is completed, you will receive confirmation from the bank on your registered mobile number and your e-mail address.

Things to know before opting for the Flexipay option

Minimum booking amount Rs 2500. The Flexipay option will be cancelled on your credit card if you are unable to pay for the EMIs for 3 consecutive months.

You can also send an SMS "FP" to 56767 or call on 390202 and 1860-180-1290. Your EMI can be as low as Rs 52 per Rs 1000 in a month.

Things to consider when converting purchase into EMI

• Credit card companies can also charge a processing fee to transfer transactions to EMI. It can vary from 1% to 3% of the transaction amount.
• Banks might charge you a pre-payment fee
• GST is applicable at 18% will be applicable on all fees and charges
• The bank will determine the interest you have to spend on your EMI
• Many banks do not authorize customers to opt for EMI when the purchase is made for jewellery and precious metals such as gold, silver, etc.