SBI Credit Card holders can now convert purchases exceeding ₹500 into 3-36 month EMIs using Flexipay. This facility is available online, via SMS, or by phone.
SBI Credit Card: If you recently purchased a mobile phone, furniture, or any other expensive item using your SBI Credit Card and now wish to convert that payment into manageable EMIs instead of a lump-sum payment, SBI's Flexipay facility might be a better option. This feature is especially designed for customers who want to manage their monthly budget while paying for large expenses in installments.
What is the SBI Flexipay facility?
Through Flexipay, you can convert any purchase of ₹500 or more into easy EMIs ranging from 3 to 36 months. However, the 36-month EMI facility is available only for transactions of ₹30,000 or more. This facility can be activated within 30 days of the purchase date. It's important to note that if your card is blocked or defaulted, you will not be able to avail of this facility.
Who can avail of this facility?
Regarding EMI options, SBI Flexipay offers tenures of 3, 6, 9, 12, 18, and 24 months. Interest rates are quite competitive, and the processing fee can be up to 1% of the total amount (maximum ₹2,000).
If you close the EMI prematurely, a 3% cancellation fee will be applicable on the outstanding amount.
Complete details of EMI tenure and charges
Activating Flexipay is also very easy. You can visit the SBI Card's official website, www.sbicard.com, to convert your transaction into EMIs. Go to the "EMI & More" section, click on the Flexipay option, select your transaction amount and EMI duration, and then confirm.
Alternatively, you can also book Flexipay via SMS from your registered mobile number—simply type 'FP' and send it to 56767. You can also avail of this facility by calling the customer care number 39 02 02 02 or 1860 180 1290 (for BSNL/MTNL users).
Why is EMI payment a smart choice?
The biggest advantage of Flexipay is that it is completely digital and hassle-free. This not only reduces your financial burden but also allows you to easily manage large purchases.
