How to Activate EMI on Debit Card

Ran out of cash while making a purchase and wondering what to do? 

The good news is that you can now avail EMI on your debit card! 

Let’s take a look at how you can activate this service for certain popular debit cards.

How to Avail State Bank of India Debit Card EMI

SBI lets its pre-approved customers avail a variety of services like shopping for consumer durables, groceries, merchandise, to healthcare, through both online and offline modes. Take a look at the details -

Amount

Rs.3,000 to Rs.2 Lakh

Tenure

3 to 36 months

Rate of Interest

2-yr MCLR + 9.70% (currently 8.60% + 9.70% = 18.30%)

Processing Charges

Nil

Check Your Eligibility to Avail EMI on SBI Debit Card

You can check your eligibility online, via SMS or through emails that are periodically sent to you. 

You can also send an SMS to 567676 with the letters ‘DCEMI’ from your registered mobile number to find out if you are eligible.

How to Avail EMI on Debit Card for Offline Purchases

The process of availing debit card EMI on your SBI card is not that different from making a regular transaction. Just make sure to swipe your card at a Pine Labs POS machine, and then follow these steps -

How to Avail EMI on Debit Card for Online Transactions

To avail SBI debit card EMI for an online purchase, the website’s payment gateway provider must be either Billdesk or PayU. Then, you can follow these steps -

How to Activate EMI on Axis Bank Debit Card

Axis Bank allows its customers to avail easy EMIs on purchases made using their debit cards. This service involves no extra time or blocking of any money in your account. Here are some features of this service -

Amount

Rs.5,000 to Rs.1 Lakh 

Tenure

3 to 24 months

Rate of Interest

14.00% - 16.00%

Processing Charges

1% or Rs.100, whichever is higher

Check your Eligibility to Avail EMI on Axis Bank Debit Card

In order to verify if you are eligible for debit card EMI, just SMS <DCEMI><space><Last 4-digits of your Debit Card> to 56161600 from your registered mobile number. 

You will receive information about the amount you are eligible for, the validity, and also the stores where the service is available.

How to Avail EMI on Debit Card for Offline Transactions

For this you have to visit the selected outlet or merchant where you can avail a debit card EMI using your Axis bank card. Then, follow these steps -

How to Activate EMI on Debit Card for Online Transactions

Go to the website or the app where you can avail a debit card EMI using your Axis Bank card. Then, follow these simple steps -

How to Avail Debit Card EMI from HDFC Bank

HDFC allows you to convert your purchase into an EMI. You can use this on select websites and stores, as per your convenience. Here are some details related to the service -

Amount

Rs.5,000 to Rs.5 Lakh 

Tenure

3 to 36 months

Rate of Interest

Flat 16.00%

Processing Charges

Rs.99 + GST

Check your Eligibility to Avail EMI on HDFC Debit Card

If you want to check your eligibility, you can SMS <DCEMI><space><Last 4-digits of your Debit Card> to 56767.

How to Avail of Debit Card EMI for Offline Purchases

In order to use the debit card EMI options on your HDFC bank card, follow these steps - 

How to Avail EMI on Debit Card for Online Shopping

The website must have the option of HDFC Debit Card EMI as a payment option for you to be able to use the service. Once you have checked that, you can follow these steps - 

Benefits of Activating EMI on Debit Card

There are many benefits of activating and using the EMI service on your debit card. Some of the advantages are listed below - 

Conclusion

As it is, debit cards are extremely helpful in making real time cashless transactions, anytime and anywhere. The service of availing EMIs using just your card is the cherry on the cake for debit card users. 

Different banks give different rates and amounts based on the financial behavior of the customer. But it is a great option if you want to make an urgent purchase and are on a tight budget. So go ahead and buy that dream phone or dress, and pay using easy EMIs!

Yes, you can avail EMI options on debit cards of most leading banks. But the final discretion depends on the bank and the merchant.

EMI options can be used for all kinds of purchases or transactions including travel expenses, shopping for gadgets, fashion, etc. It depends on the store that you are making the purchase from, be it online or offline.

Once you agree to the terms and conditions, you are agreeing to pay the money in easy pocket-friendly installments. The amount will be deducted from your bank account automatically every month.

You can make as many purchases using the EMI option on your debit card. The limit simply depends on the amount you can avail given your financial health.

The service of availing EMI on debit card doesn't take any extra time. It takes more or less the same amount of time that it takes to make a normal transaction using your debit card. 

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