SBI Debit card EMI on Flipkart

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What is Debit Card EMI?

You can buy high value item even if you don’t have same amount in main account balance in SBI bank. You can pay monthly EMI to your overdraft account in 3,6 and 9 months with 14% interest rate.

There will be no processing fees and you can have one EMI per account, maximum limit for overdraft is Rs 75,000. Minimum purchase required is Rs 5000 with single item in card.

SBI have largest customer base in India and Flipkart is well known home grown Indian eCommerce website.

Normally EMI can be availed from credit cards and recently Bajaj Finance also added online EMI on Flipkart and Amazon India.

How to check my approved limit for Debit Card EMI?

You can check your pre-approved finance limit online.

  1. Go to this Link SBI-Flipkart
  2. For Pre-approved Overdraft for e-Commerce purchases on Flipkart enter your Mobile number and account number.
  3. You will receive OTP , once you enter correct OTP you will get another SMS from SBI stating your Credit Limit.

How to Buy using SBI debit card EMI ?

You can easily buy on debit card EMI following below step-by-step guide.

  1. Select product you like to buy View Eligible Products
  2. Go to the checkout with One item only which is eligible.
  3. In Payment section go to EMI (Easy Installment)
  4. Select Pre-Approved / Debit EMI
  5. Follow steps of Debit card and OTP.
  6. We will add more detailed steps Subscribe to our email news letter and deliver to your inbox.
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Things to Remember

  • This facility can be availed only 8:00 AM to 8:00 PM
  • Valid only on 1 item in cart
  • Min Rs 5,000 and Maximum Rs 75,000 item
  • 3,6 and 9 month emi with 14% interest.
  • No cacellation fees upto 30 Days

Detailed Terms and Conditions

  • The minimum cart amount necessary for availing the Pre-approved EMI is Rs. 5000.
  • This option is available in three tenors – 6 months, 9 months and 12 months.
  • The interest will be charged at 14% (fixed) for all tenures.
  • The loan is processed as an overdraft (OD) at the bank, which is repayable in equated monthly instalments (EMI). A standing instruction (SI) equivalent to the monthly instalment amount will be set up automatically upon availing this OD.
  • The liability to the bank will be extinguished only when the outstanding in the OD account becomes Nil, on payment of residual amount, if any.
    Only one OD can be created at any point of time. Multiple ODs are not permitted.
  • Overdraft account cannot be closed with a residual credit balance in the account. After repayment of exact amount of all dues, the account can be closed through INB.
  • No processing fees will be charged.
  • Penal interest will not be charged for loans up to Rs 25,000. – For Loans above Rs 25,000, if the irregularity exceeds EMI, for a period of one month, then penal interest would be charged @2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default. If part installment or part EMI remains overdue then penal interest will not be levied.
  • All decisions regarding eligibility of the customer as decided by SBI is final.In case account is closed before the quarter end you will not be eligible for taking an OD till next calendar quarter start date.
  • Premature closure within one month of availing the OD is not permitted – however, customer can return/cancel the order on Flipkart within 30 days of placing the order without any interest being charged to the customer.
  • Any prepayment of EMIs in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on prepaid amount. SI failure will attract penalty of Rs.500.

18 COMMENTS

  1. Frankly we do get emi on debit card as I have order external hard drive …but it has lots of term and condition ….very tricky one could be in trap easily by bank….they actually block ur amount…now for example I wanted to buy a laptop for 25k when I attempt it says my acc should hv 25k in my acc which will be blocked till my emi is over…so basically it’s no use…but for few item like I bought hard drive it didn’t blocked any amount and b4 making payment it says clearly that amount won’t be blocked..so one b4 buying anything thru debit card pls be careful or else u ‘ll end up with trap

  2. When I check eligibility it says I am not eligible but I hv already avail this facility…though I hv a question admin if u can ans…..why did they block the amount in account if so it’s better to purchase with full amount what is the sense of emi here?

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