SBI Debit Card EMI- Check Eligibility, Interest and Application Process

Published: Wednesday, January 25, 2023, 21:45 [IST]

SBI debit card EMI allows you to make large purchases even if you don't have enough money. The SBI debit card EMI facility is available for both online and offline purchases. You can use this facility to purchase electronics, clothing, furniture, and other items. It is important to note that the bank provides a minimum and maximum limit for the debit card EMI facility. Here is all you need to know about the SBI debit card EMI facility.

Features-

If you qualify for SBI debit card EMI, you only need to pay Rs. 2 to validate your debit card, and the remainder will be disbursed as a loan to be repaid through EMIs. There will be no withdrawals from your linked bank account.

SBI allows its customers to use the EMI facility three times within the allowed limit.
SBI's debit card EMI facility is a type of loan, but there is no processing fee associated with it.
You have the option of selecting a tenure ranging from 6 to 18 months based on your convenience and repayment ability.
Because you are a current customer of the bank, your loan request for EMI on a debit card is approved immediately. As a result, the funds are distributed immediately. It is important to note that no documentation is required to obtain EMI on your debit card.
SBI card EMI allows the customer to finance up to 100% of the loan amount with no down payment required.

How to check eligibility for EMI on SBI debit card?

You can use your registered mobile number to check your eligibility for EMI on SBI debit card in the following ways:
Send the word 'DCEMI' to the number 567676.
You will receive an SMS notification.

How to avail SBI debit card EMI?

Offline

Swipe your SBI Card at the POS Machine and select - Brand EMI - Bank EMI.
Enter the loan amount and repayment period.
The POS machine will verify your eligibility.
If you are eligible, you will be prompted to enter your debit card PIN. After that, click OK.
The loan amount will be recorded, and you will receive a charge slip outlining the loan's terms and conditions.
You must sign the charge slip containing the terms and conditions.

Online

Credit card EMI is only available on merchant sites that use the Billdesk or PayU payment gateway.
Select the article
Proceed with the payment
Choose "Debit/Credit Card" from the payment options.
Among the options available choose "ICICI"
Select the EMI term (6, 9, 12 or 18 months)
Enter your registered mobile number to see if you qualify for a debit card EMI.
Enter OTP for transaction authentication confirmation.
Your screen will display a message indicating that the transaction was successful.