Encash/Encash Inline

Encash/Encash Inline is a pre-approved, money- on- demand facility, which is offered to a select set of SBI credit cardholders. The Encash/Encash Inline amount that a cardholder would be eligible for can be over and above the existing credit limit or within the existing credit limit on the card. The funds will be transferred to your account instantly within 48 hrs or via payable-at-par cheque.

You can request for Encash/Encash Inline instantly in 3 simple ways:

• Log on to sbicard.com or SBI Card app using your SBI card Online user ID and password
  • If you are eligible for Encash/Encash Inline, you will see an "Encash/Encash Inline" link under the Benefits section on the left hand navigation
  • Click on the link and enter the amount you wish to book Encash/Encash Inline for, select the tenure and rate of interest and confirm the booking
    
    
• You can also login to Chatbot ILA, ask query for booking Encash/Encash Inline and follow the guided steps
• Call the SBI Card helpline to check if you are eligible for Encash/Encash Inline and book it
  • 39 02 02 02 (prefix local STD code)
  • 1860 180 1290

The minimum booking amount for Encash/Encash Inline is ₹ 25,000, which may vary in case of specific offers. The maximum booking amount is based on the offer on your account.

You can log in to your SBI Card online account to check the applicable interest rate on your pre-approved Encash/Encash Inline offer. You may also call the SBI Card helpline to get this information. Please note, the interest rates may vary with respect to time and offers.

At the time of booking, a processing fee of 2% of the Encash/Encash Inline amount will be charged. The processing fee can be a minimum of ₹ 499 up to a maximum of ₹ 3,000. Applicable Taxes would be charged extra on this amount.

You can book Encash/Encash Inline for a period of 12, 24, 36 or 48 months. The available tenures may vary with respect to time and offers. Log in to sbicard.com to know the tenure applicable to the offer on your account.

Your Encash/Encash Inline amount will be transferred to your account instantly within 48 hours or via payable-at-par cheque.

The Encash/Encash Inline cheque would ideally be delivered in 3 working days for metro locations and in 5 working days for non-metro locations.

No, Encash/Encash Inline can only be booked on a primary card.

Encash/Encash Inline installments would be billed as a part of the monthly card statement. The first installment would reflect in the first card statement that will be generated after your Encash/Encash Inline booking.

Cancellation (Cheque) : In the event a cardholder puts a cancellation request by calling SBI Card helpline within 45 days of the Offer being booked via cheque, then all fees and charges levied will be reversed. Notwithstanding above, it is clarified that the applicable fees and charges will not be reversed once the cheque issued to the cardholder has been cleared and resulted in clear credit to the Cardholder account. Also, in case the cancellation request is received at the SBI Card helpline post 45 days of booking, the processing fees charged will not be reversed and the cardholder would be liable to pay same.

Cancellation (NEFT) : Cardholder intending to cancel Encash/Encash Inline request via NEFT can do so by calling our helpline number on the same day, before 4 PM, of booking request and get the cancellation request raised. However, Cardholder shall not be entitled to cancel Encash/Encash Inline request or refuse to accept disbursement of funds any day after the day on which the request for Encash/Encash Inline has been opted for by the cardholder.

Foreclosure : The Cardholder may place a request for voluntarily pre-closing the Encash/Encash Inline Offer prior to the maturity of the tenure period opted for, by calling the SBI Card Helpline. A foreclosure fee amounting to 3% of the Principal outstanding would be levied for such pre-closure requests. The Principal outstanding is calculated basis interest rate as applicable.

Helpline no for Cancellation/Foreclosure: 39 02 02 02 (prefix local STD code) or 1860 180 1290

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​