Flexipay

Flexipay is a facility offered to existing SBI credit cardholders to convert their big purchases into easy monthly instalments. Any SBI Card holder, with a transaction greater than ₹ 500 can convert the said transaction into Flexipay within 30 days. Please note delinquent or blocked card holders would not be able to avail this service.

You can convert your transaction into Flexipay instantly in 2 simple ways:

• Log on to your SBI Card online account
  • Click on ‘Flexipay’ under the ‘EMI & More’ section on the left hand navigation
  • Select the transaction(s) >₹ 500 you want to convert into Flexipay, select the tenure and rate of interest and confirm the booking

Click here to watch demo

• Call the SBI Card helpline to book Flexipay
  • 39 02 02 02 (prefix local STD code)
  • 1860 180 1290

Your request to convert your transactions into Flexipay will be processed within 5 working days. We will also send you a confirmation SMS on your registered mobile number.

Alternatively, you can Login to Chatbot ILA, ask query for converting outstanding amount to EMI and follow the guided steps

You can convert transactions that meet the following criteria:

• Retail purchases done using your SBI Credit Card
• Transactions that were done within last 30 days
• Transactions, whose value is greater than ₹ 500. This may vary in case of specific offers.
• Multiple retail transactions, whose value is greater than ₹ 500 can be converted into a single Flexipay plan. This may vary in case of specific offers.
• Minimum booking amount Rs. 2500

You cannot convert the following to Flexipay:

• Interest, fees or any other charges levied on your card
• Cash transactions
• Individual transactions less than Rs. 500

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

The interest rate applicable on Flexipay might vary from offer to offer and time to time. You can visit our website or call SBI Card helpline to know about the Flexipay rates.

Yes, a one-time processing fee of 1% (subject to a maximum of Rs.2000) shall be charged on the amount converted to Flexipay.

Flexipay can be booked for a period of 3, 6, 9, 12, 18 or 24 months. 36 months tenure is also available, however it can only be availed for booking amount greater than or equal to ₹ 30,000.

Flexipay can be booked for a minimum amount of ₹ 2,500. The maximum amount would be determined by your retail balance and the available credit limit at the time of booking.

Please call up SBI Card helpline for more details.

No, Flexipay can only be booked on a primary card.

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

You can place a request for cancellation by calling the SBI Card helpline. If the cancellation request is placed within 45 days of booking, no charges would be levied on the card account.

In the event of cancellation request being placed post 45 days of booking, a cancellation fee of 3% of the outstanding principal would be levied on the account.

If you wish to fore-close the Flexipay booking done by you before the completion of the tenure, the outstanding principal amount would be moved to retail plan and a fore-closure fee of 3% of the outstanding principal would be levied on your SBI Card.

Interest chargeable in first EMI is basis a 30-day period. W.e.f. 1st July 2024 , if the period between booking confirmation 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 cash disbursement 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 booking confirmation date & Payment Due Date)}

Example: Interest charged in first EMI (for a 30-day period) = Rs. 900 Period between the booking confirmation 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 booking confirmation 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 booking confirmation 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 booking confirmation 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