If you are a State Bank of India customer, then you can easily convert your purchase bill into EMI through your debit card. Customers can also avail EMI facility while shopping online.
Country’s largest bank State Bank of India (SBI) offers EMI facility to its customers to purchase customer durable items from merchant stores by swiping their cards at POS using SBI Debit Card. Apart from this, SBI customers can also avail this EMI facility through debit cards while making online purchases through e-commerce portals like Amazon and Flipkart. Know how you can take advantage
Debit Card EMI
Firstly, swipe the SBI Debit Card at the POS machine at the merchant store and select the option of Brand EMI – Bank EMI. Then enter the amount and the repayment period. After checking the eligibility by the POS machine, enter the PIN and press ‘OK’. The loan amount is booked after successful transaction. After that
The charge slip containing the terms and conditions of the loan is printed and the customer has to sign the same.
Online EMI
First of all log in to Amazon or Flipkart or other e-commerce site with your mobile number. Select the required brand registered with the bank and proceed for payment. Select the Easy EMI option from the various payment options that appear and then select SBI. The amount is auto fetched, on this you enter your duration and click on proceed. After this the SBI login page will come, here you have to enter your internet banking details or debit card credentials. If it is accepted, the loan is booked and the terms and conditions are displayed. After that the order gets booked.
You will get these benefits
Under this, you will not have to pay any processing fee, as well as no documents will be charged and you will get instant disbursal. Along with this, the balance of the savings account is also not blocked.
how much interest will have to be paid
Under this, you can take a loan from Rs 8,000 to 1 lakh, and on this you will have to pay interest of 14.70 percent according to the current interest rate.
