Convert2EMI

The Convert2EMI facility is an offer from SBI Cards and Payment Services Limited (SBICPSL) and is open to the residents of India holding a valid and subsisting retail SBI Credit Card only. This facility is not available to delinquent or any other ineligible SBI Credit Cardholder, determined as per the internal policy of SBICPSL / SBI Card.

You can book Convert2EMI at the time of the transaction on the OTP page in a few simple steps:

• Select the EMI tenure
• Click on T&C checkbox
• Enter the OTP and click on ‘Submit OTP’ to place the request.

No, not all transactions can be converted to Convert2EMI. There may be a restriction on select few categories and online platforms. This restriction of category and platform may be altered as per SBI Card internal policy and at sole discretion of SBI Card without prior information.

Any such change will only be effective for the new bookings and will not impact on the existing bookings made.

The minimum booking amount for Convert2EMI is Rs. 2,500. This may vary in case of specific offers.

The interest rate applicable on Convert2EMI might vary from time to time. You can visit our Website and refer to the TnC for the same at  https://www.sbicard.com/convert2emi-tnc.pdf  and refer section B. termed as Convert2EMI Terms and Conditions.

Yes, a one-time Processing Fee might be applicable on Convert2EMI booking. The same shall be communicated on the OTP Page to you at the time of availing Convert2EMI facility. For more information please visit our website and refer TnC for the same at  https://www.sbicard.com/convert2emi-tnc.pdf  and refer section B. termed as Convert2EMI Terms and Conditions.

Convert2EMI can be booked for a period of 3, 6, 9, 12, 18 or 24 months. Please visit our website and refer TnC for the same  https://www.sbicard.com/convert2emi-tnc.pdf  and refer section B. termed as Convert2EMI Terms and Conditions.

Convert2EMI can be booked for a minimum amount of Rs 2,500. The maximum amount would be determined based on your retail plan balance at the time of booking.

Yes, Convert2EMI can be booked on an add-on card.

Convert2EMI installments would be billed as part of the monthly card statement. The first installment would reflect in the first card statement generated after you have booked Convert2EMI.

You can place a request for cancellation by calling the SBI Card Helpline. If the cancellation request is placed within 30 days of booking, no charges would be levied on the card account.

In the event of cancellation request being placed post 30 days of booking, a Foreclosure Fee of 3% of the outstanding principal would be levied on the account (+ applicable taxes, if any) & prorated Accrued interest.

For all Convert2EMI foreclosures, interest will either be debited / credited basis the Foreclosure Request Date, Billing Date, Plan Open Date and Payment Due Date and will be added to the Foreclosure Charges. For more details, please refer to Convert2EMI TnC at  https://www.sbicard.com/convert2emi-tnc.pdf  and refer section B. termed as Convert2EMI Terms and Conditions.

The interest amount chargeable in the first EMI will be calculated for the period between Plan Open date and Payment Due Date (PDD), as per the credit card statement cycle. From second EMI onwards, interest will be levied for a 30-day period, from one PDD to the next PDD. Hence, the first EMI amount may be different from subsequent EMI amounts.

• If the difference between Plan Open date and first bill Payment Due Date as per the credit card statement cycle is more than 30 days: First EMI amount will be more than subsequent EMI amounts.
• If the difference between Plan Open date and the first bill Payment Due Date as per the credit card statement cycle is equal to 30 days: First EMI amount will be equal to subsequent EMI amounts.
• If the difference between Plan Open date and the first bill Payment Due Date as per the credit card statement cycle is less than 30 days: First EMI amount will be less than subsequent EMI amounts.

For more details, please refer to Flexipay TnC at  https://www.sbicard.com/convert2emi-tnc.pdf  and refer section B. termed as Convert2EMI Terms and Conditions.

*Note – The above details are subject to change as per SBI Card Internal Policy. *