SBI Credit Card EMI – Interest Rates, Tenure, and Benefits

SBI Credit Card EMI calculator

If you want to discover how much monthly payment you would need to pay by switching your credit card bill into FlexiPay, simply utilise the EMI calculator offered by SBI. Since the SBI now charges a flat annual interest rate of 14.5% (as of November 14, 2017), you can use that rate to compute your EMI.

Go to SBI EMI calculator and enter the details as prompted.

In the amount tab you can enter your outstanding amount, which you want to convert in to FlexiPay, duration should be either 6, 9, 12 or 24, and the interest rate should be 14.5%. Once you submit the details click calculate. You will find EMI and the total interest amount in the right-side columns.

Other Credit Card EMI

1. Credit Card EMI
2. HDFC Credit Card EMI
3. IndusInd Credit Card EMI
4. Axis Bank Credit Card EMI
5. HSBC Credit Card EMI
6. Kotak Credit Card EMI
7. No Cost EMI
8. Amazon No Cost EMI
9. Flipkart No Cost EMI

Things to Consider while Converting SBI Credit Card Bill in to EMIs

1. The FlexiPay option is available only for the retail purchases conducted through SBI credit card
2. Multiple credit card transactions can be clubbed to convert into EMIs. However, the total amount should be greater than Rs.2,500
3. The transactions which are not eligible for conversion include interest, fees and other charges on the card
4. If the credit card bill amount is more than Rs.30,000, customers can go for 36 months tenure
5. The add-on SBI credit card holders are not eligible for FlexiPay
6. If you cancel your EMI conversion request within 45 days of booking, you will receive a refund for all conversion charges. Otherwise, a cancellation fee of 3% of the outstanding amount will be levied.
7. Fore-closing the facility before the completion of tenure will attract a charge of 3% on the outstanding, while moving the same to retail plan

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FAQs on SBI Credit Card EMI

• Can I get a no-cost EMI post purchase?

  No-cost EMIs are not given post the purchase by the credit card issuers. These are offered by a lot of online retailers like Flipkart, and Amazon.

• What is Flexipay?

  Flexipay is an SBI Card feature that allows you to turn your purchases into EMI and pay them over a period of months or years. This is available to all existing SBI credit cardholders and allows customers to convert purchases into convenient monthly installments.

• Can I book Flexipay on an add-on credit card?

  No, you cannot book Flexipay on add-on credit cards.

• Can I convert fuel spends into EMI?

  No, you cannot convert your fuel spending into EMI.

• What is the minimum amount required for booking Flexipay?

  Flexipay requires a minimum booking amount of 2,500. This depends on the specific offer so it is subject to change.

• What are the various Flexipay booking tenures that are available?

  You can book Flexipay for 3 months, 6 months, 9 months, 12 months, 18 months or 24 months. There is also a 36-month option, but it can only be chosen if you pay at least Rs.30,000.

• How is the Flexipay instalment billing system?

  Flexipay payments would be included on the card statement each month. After completing the Flexipay booking process, you will receive the first instalment on your first card statement.

• What is the applicable interest rate for Flexipay?

  The interest rate that applies to Flexipay may fluctuate from time to time. It also varies from offer to offer. You can check the latest updates from the SBI official website.

• How can I cancel my Flexipay request?

  Yes, you can cancel your Flexipay by calling SBI Card's customer support line. If you cancel within 45 days of the reservation, no fees will be charged to your card account; otherwise, your account will be charged a cancellation fee equal to 3% of the remaining principal.

• Is there a toll-free number to check my SBI Flexipay EMI?

  Yes, you can check for your SBI Flexipay EMI by calling the following toll-free numbers 800-112-211 and 1800-425-3800.