SBI Provides Services To Convert Your Purchases to EMI Through A Debit Card.
Holders of State Bank of India (SBI) debit cards can now convert their purchases to EMI or equivalent monthly fees.
Holders of State Bank of India (SBI) debit cards can now convert their purchases to EMI or equivalent monthly fees. The country’s largest lender stated in a statement that it is providing “EMI tools for purchasing durable consumer goods in commercial stores using SBI debit cards by swiping at PoS (point of sale).” He added that users can also take advantage of this feature when shopping online with SBI debit cards through e-commerce portals such as Amazon and Flipkart.
Customers can verify their eligibility by sending a text message to DCEMI via the mobile phone number registered in the bank to 567676. They can obtain loans ranging from 8,000 rupees to 100,000 rupees at an effective interest rate of 2 years MCLR (based on marginal cost of funds) + 7.50%, which is currently 14.70%.
MCLR is the lowest loan interest rate at which banks are not authorized to lend.
Provided by EMI facilities Flexible tenure options for 6/9/12/18 months.
Some of the other benefits offered by lenders include zero handling fees, zero documents, instant payments, and unlocking of savings account balances.
Here’s a step-by-step guide for SBI customers:
For debit card EMI
* Swipe card on POS machine at merchant store
* Select – Brand EMI – Bank EMI
* Enter – Amount – Repayment tenor
* Enter PIN (personal identification number) and press OK after the POS machine has checked the eligibility
* Loan amount is booked after the successful transaction
* Charge slip containing Terms & Conditions of Loan is printed and the customer has to sign on the same
For online EMI
* Login on Amazon or Flipkart from the mobile number registered with the bank
* Select the required brand article and proceed for payment
* Select the Easy EMI option from different payment options that appear and then select SBI
* The amount is auto fetched, enter the tenor and click on proceed
* SBI Login page appears, enter the internet banking or debit card credentials
* Loan is booked, T&C is displayed, if accepted, the order is booked
At the same time, SBI’s stock price rose 0.46% in late trading.