Shopping With SBI Credit Card? Here's How to Turn Big Buys Into Easy EMIs For 3, 6, 9, And Even 24 Months

Credit card shopping provides convenience and freedom from constant concern about financial constraints. But missing out on a credit repayment deadline can lead to penalties and possibilities of reducing credit score. Paying Equated Monthly Installments (EMI) for credit card purchases can ease the burden.

SBI Card users who are facing difficulties in repaying the large amount of their credit card expenses can easily convert their purchases into small EMIs. These installments on SBI Card purchases can be for a shorter duration, like three months; people can also opt for a longer period up to 24 months.

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What is SBI Card Purchase EMI Facility?

According to SBI Card's official website, customers can convert their last 30 days purchases in flexible installments for a period of three, six, nine, twelve, eighteen, and twenty four months. People can convert their transactions into Flexipay within a month. The minimum amount that can be converted into EMI is Rs 500 or above. Minimum booking amount is Rs 2500.

SBI Credit Card Purchase on EMI: What Are Fees and Other Charges?

To avail the benefit of flexible options for paying back big transactions, SBI Card customers have to pay a 1% one-time processing fee, to a maximum of Rs 2,000. Additionally, a cancellation fee will be charged on the outstanding principal amount.

SBI Card Account: How To Convert Purchases into EMI?

Follow the below-mentioned steps to convert your transaction into monthly installments.

-Go to the official website of SBI Card, ie SBIcard.com and log in with your credentials like user ID and password.

-Click on the 'Flexipay' option under the 'EMI & More' section. You can find the option on the left-hand side of the screen.

-Choose the SBI Credit Card transaction (which should be more than Rs 500) you wish to convert into EMI.

-Next step is to select the tenure and rate of interest.

-Confirm the booking.

SBI Card Flexipay: Which User Can Avail The Benefit?

The delinquent or blocked cardholders would not be able to avail the benefit of this feature for their transactions. Additionally, not all SBI Card transactions can be converted into EMIs under Flexipay. People can convert only the transaction types listed below into EMIs.

-Retail purchases using SBI Credit Card
-Transactions completed within a day.
-Transaction amount above Rs 500. In special cases, multiple retail transactions whose value is great than Rs 500 can be converted into a single Flexipay plan and can vary in case of specific offers.
-Minimum booking amount is Rs 2500
-Customers can't convert the deductions, which are interest, fees or any other charges levied on the card, into EMIs.

Interest rates on SBI Card Flexipay benefit may vary time to time and mainly depend on different offers. To confirm EMI interest rates on your SBI Card expenses, you can call SBI Card helpline or visit the website.

SBI Card customers, can also cancel their EMI transactions by calling the SBI Card helpline. However, they have to pay 3% cancellation charge if the EMI facility is discontinued after thirty days of booking. To foreclose the EMI amount, they have to 3% fore-closure charge of the outstanding principal.