EMI on Debit Card – Know how to get EMI facility on debit card

EMI on Debit Card – Know how to get EMI facility on debit card SBI – You can use a credit card to buy expensive phones, laptops or household items when you need money urgently. Credit cards are not available to everyone. If you are also one of those people then there is no need to panic. Debit cards are now the only ones that offer EMI.

As of now, banks are also offering EMI on debit cards. Users of the debit card service have the option of EMI as well as credit option. To qualify for Debit Card EMI, you must meet the eligibility requirements of your bank.

What is the process to get EMI on Debit Card?

Banks decide whether a debit card can be used for EMI or not. In this case, we will use your registered phone number and debit card number. Orders can be placed without maintaining a minimum balance in an account.

In order to pay the monthly EMI, they have to verify that they have sufficient funds in their accounts. Depending on your bank, you may get a different amount EMI on your debit card.

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How to convert your purchase into EMI

  • After purchasing your product, inform the store employee to swipe your debit card in EMI mode, while making the payment.
  • This option is also available when you shop online.
  • Select the tenure for which you want to take the EMI.
  • Please sign the charge slip.

Once the bank accepts your request, you will receive a refund of your transaction and a temporary EMI settlement account will be created based on the tenure chosen by you.

How to Check EMI Eligibility on Debit Card?

For more information on your EMI eligibility, contact your bank’s customer care or send an SMS. E-commerce websites also allow you to check it online.

For your convenience, we are providing you the list of SMS numbers of some banks, on the basis of which you can check your eligibility-

  • HDFC Bank: SMS MYHDFC to 5676712 from registered mobile number
  • Axis Bank: 56161600 to DCEMI . SMS on
  • ICICI Bank: DCEMI SMS 5676766
  • Federal Bank: SMS DCEMI to 5676762 or give a missed call to 7812900900
  • Kotak Mahindra Bank: SMS DCEMI to 5676788
  • STATE BANK OF INDIA: SMS DCEMI to 567676 from registered mobile number
  • Bank of Baroda: SMS DCEMI to 8422009988

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It is important to note that the acceptance of EMI is dependent on the credit limit you have. Either your request will be rejected or the amount will exceed the available limit.

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