SBI is offering debit card EMI facility
According to SBI, debit cards are now being offered with EMI facilityUnder this, customers will be able to make point of sale (POS) or online shoppingThis festive season, State Bank of India (SBI) has come up with a special offer for its customers. This festive season, SBI is offering a special feature in debit cards issued to its account holders. According to SBI, debit cards are now being offered with EMI facility. Under this the customer will be able to make point sale sale (POS) or online purchase. Customers can convert their purchases into easy installments.
Taking advantage of pre-approved EMI facility
SBI is offering pre-approved EMI facility on debit cards to its account holders. Whether you are getting this facility or not can be obtained from the bank. Because, if you are not managing the account properly, you will not get this feature.
Failure to pay the installment will result in penalty
To avail this facility you should always have money in SBI account for monthly installment. EMI facility can be availed 3 times in a quarter under quarter online and POS. Penalty will be levied if the amount of EMI is not paid on time due to lack of money in the account.
SBI is offering a special offer during the festive season
State Bank of India (SBI) has announced a 100 per cent waiver of processing fees for home loans, car, gold and personal loans. This means you don't have to pay any processing fees if you are thinking of buying a home. But for that, customers have to apply through the bank's application Yono. According to SBI, those customers will get a special discount at 10 bps or 0.10 per cent interest with a good score. However, it will also depend on the loan amount.
Once the transaction is done using SBI Debit Card, one can opt for an EMI period of at least 6 months to 18 months. The transaction is for purchasing products at 40000+ merchants and stores in 1500+ cities with Pine Labs branded POS machines totaling more than 4.5 lakh.
According to SBI, “All customers with a clean financial and lending history are eligible for loans. Such customers are regularly contacted by the bank through SMS and emailers. To check eligibility, customers can also send an SMS from their registered mobile number to DCEMI by typing 567676. "
The debit card EMI facility enables buyers to purchase consumer durable products on EMI at various merchant stores, without having to pay the full amount immediately using their debit card.
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What’s more, being an SBI Bank account holder, the debit card EMI facility comes on select brands with zero documentation, no processing fees, no branch visits, instant delivery and zero cost EMI. This facility is instantly available regardless of the existing savings bank account balance, while EMI will start one month after the completion of the transaction.