SBI Debit Card EMI facility: With an aim to provide an ultimate and affordable shopping experience to its customers this festive season, the country’s largest lender, State Bank of India (SBI) on October 7 launched the ‘Debit Card EMI facility’ for its bank account holders. Under this service, consumers can opt for an EMI tenure of minimum 6 months to 18 months during SBI card bill payment. They can buy the products at 40000+ merchants and stores in 1500+ cities having Pine Labs branded POS machines totaling more than 4.5 lakhs.

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Speaking on the occasion, Rajnish Kumar, Chairman, SBI said, “We are glad to launch this product for our customers so that they can have a pleasant shopping experience this festive season. Debit Card EMI will enable customers to buy consumer durable products on EMI at various merchant stores pan India using their debit cards without having to pay the entire amount immediately. We believe the introduction of this new product is a step forward by the bank to offer the delight of hassle-free purchases and paperless loans.”

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Some of the key benefits that consumers can enjoy while using this facility are zero documentation, no processing fee, no branch visit, the instant disbursal and zero cost EMI on select brands. This facility can be availed in less than a minute irrespective of the existing saving bank account balance. The EMIs would begin one month after the transaction is complete.

All customers having clean financial and credit history are eligible for availing the loans. Such customers are being sent regular communications by the bank via SMS and Emailers. To check the eligibility, customers can also send an SMS typing DCEMI to 567676 from their registered mobile number.