Balance Transfer on EMI

Balance Transfer on EMI (BT on EMI) facility on SBI Card enables the cardholders to transfer outstanding balance from any other bank credit card to their SBI Card and pay back in EMIs at low rates of interest.

You can book BT on EMI in 2 simple ways as per your convenience:

• Log in to your SBI Card online account
  • Click on the ‘Benefits’ link on left hand navigation and select ‘Balance Transfer on EMI’
  • Enter details & confirm to book BT on EMI instantly
• Call up our SBI Card helpline at 39 02 02 02 (prefix local STD code) /1860 180 1290 (from BSNL/MTNL lines)
• Alternatively, you can Login to Chatbot ILA, ask query for booking BT on EMI and follow the guided steps

Currently there are two plans available for BT on EMI:

No, you cannot book BT on EMI on another SBI Card that you hold.

You can avail balance transfer for all credit cards, issued by different banks in India.

BT on EMI can be booked for a minimum amount of ₹ 5,000 to a maximum of 75% of available credit limit. Your maximum limit available for BT on EMI booking will be communicated to you at the time of booking.

Balance Transfer amount will be transferred via NEFT, directly to cardholder’s other bank credit card account, within 2-3 working days.

No. BT on EMI can only be booked on a primary card.

No, BT on EMI can only be booked on a primary card.

Yes. You can repay the amount before the EMI tenure ends. There is a fee of 3% on the outstanding principal + GST will be charged.

Interest chargeable in first EMI is basis a 30-day period. W.e.f. 1st July 2024 , if the period between fund disbursement initiation date and Payment Due Date is less than 30 days, excess interest levied will be credited back. If the period is more than 30 days, remaining interest (chargeable beyond 30 days) will be debited in subsequent statement(s).

Cardholders will be credited a portion of the computed interest amount if the credit period is lesser than the period for which interest has been charged in the first EMI i.e. the period between the fund disbursement initiation date and the Payment Due Date of first EMI is less than 30 days

Calculation for crediting back excess interest:

Interest charged in first EMI – {(1st EMI Interest Amount ÷ 30 Days) X (Period between fund disbursement initiation date & Payment Due Date)}

Example: Interest charged in first EMI (for a 30-day period) = Rs. 900 Period between the fund disbursement initiation date and Payment Due Date = 22 days

Then the amount that will be credited back to the cardholder's account in the subsequent statement(s) will be: 900 - {(900 ÷ 30) X (22)} = Rs. 240

Cardholders will be debited a portion of the computed interest amount if the credit period is more than the period for which interest has been charged in the first EMI i.e. the period between the fund disbursement initiation date and the Payment Due Date of first EMI is more than 30 days

Calculation for debiting remaining interest:

{(1st EMI Interest Amount ÷ 30 Days) X (Period between fund disbursement initiation date & Payment Due Date)} - Interest charged in first EMI

Example: Interest charged in first EMI (for a 30-day period) = Rs. 900

Period between the fund disbursement initiation date and Payment Due Date = 42 days Then the amount that will be credited back to the cardholder's account in the subsequent statement(s) will be: {(900 ÷ 30) X (42)} - 900 = Rs. 360