Pay in EMI Terms & Conditions

1. The Pay in EMI facility is an offer from SBI Cards and Payment Services Limited (SBICPSL) which is open to the residents of India holding a valid and subsisting primary Google Pay Flex SBI Credit Card only. This facility is not available to the delinquent and any other ineligible SBI Credit Cardholders determined as per the internal policy of SBICPSL.

2. The Pay in EMI facility is available only for Google Pay Flex SBI Credit Cardholder via Google Pay App.

3. With this offer, customers will be allowed to covert the “eligible amount” (only retail transactions) from their latest bill into EMI excluding Cash transactions, ongoing EMIs, Excluded MCC (If any), Interest levied, Fees and Charges, GST and any other charges levied on the card.

4. Pay in EMI offer is valid from the date of bill generation till the upcoming PDD (Payment due date)

5. No transaction from previous billing cycle is eligible for Pay in EMI facility

6. Minimum booking amount for conversion to EMI at Google Pay App is INR 2500.

7. No request from add-on Google Pay Flex SBI Credit Cardholder will be entertained for transfer of retail purchases to Pay in EMI. This may vary in the case of specific offers.

8. The Pay in EMI facility from SBICPSL is available over different tenures of 3, 6, 9, 12, 18, 24, and 36 months, subject to the option exercised by the SBI Credit Cardholders. The tenure option of 36 months is only available for booking amount greater than or equal to INR 30,000. The minimum amount eligibility for 36 months tenure may be changed by SBICPSL at its sole option and discretion.

9. Interest Rate Methodology: The interest rate charged for Pay in EMI is linked to Minimum Benchmark Yield Rate calculated based on the following factors:

• Cost of Equity
• Negative Carry cost on LCR (Liquidity Coverage Ratio)
• Operating expenses
• Tenor premium/discount

Appropriate spread will be added over and above the Minimum Benchmark Yield Rate to arrive at the maximum rate chargeable to the customer. This spread will be based on Credit Risk Premium (CRP) and appropriate Business Margin. Rate of interest for Flexipay will be higher than the Benchmark rate (Minimum Indicative yield)

10. Changes in the factors mentioned above may result in upward or downward revision of the interest applicable on the Pay in EMI from time to time / from offer to offer at the sole discretion of SBI Card. This offer is based on Bureau score of the Cardholder at the time of launching the offer. His / her current Bureau score may or may not be the same as it was when this offer was launched. All fees / charges applicable to the facility may or may not be dynamic and are subject to modifications based on SBI Card periodic internal review.

11. With effect from 29th Jul 2026 interest rate applicable on Pay in EMI ranges from 10.50% – 22.00% Rate range applicable for various segments for Pay in EMI are as below-

• Bureau score <=700 – 22.00% to 25.00% p.a.
• Bureau score between 701 and 780 – 17.00% to 20.00% p.a.
• Bureau score > 780 – 10.00% to 16.00% p.a.

12. The transfer of retail purchase transaction(s) to Pay in EMI will only be allowed if the Current Balance Amount (Billed and Unbilled) + Processing Fee + GST is less than the Credit Limit available at the time of transfer to Pay in EMI.

13. Upon Pay in EMI approval, the Google Pay Flex SBI Credit Cardholder’s Credit Limit shall be blocked up to Pay in EMI Principal Amount + Processing Fee + GST. The Credit limit gets adjusted as and when the Pay in EMI instalment payments are made by the Google Pay Flex SBI Credit Cardholder.

14. Pay in EMI monthly instalment schedule will begin from the Google Pay Flex SBI Credit Cardholder’s next billing statement and continue over the Pay in EMI tenure. The Pay in EMI monthly instalment(s) shall be included in the MAD of the Statement of account in the duration of the Pay in EMI tenure. First EMI will be billed in the next statement cycle (after the date of Pay in EMI booking) and interest will be charged.

15. The interest amount chargeable in the 1st EMI will be calculated for the period between Plan Open Date and the Payment Due Date (PDD), as per the credit card statement cycle. From 2nd EMI onwards, interest will be levied for a 30-day period, from one PDD to the next PDD. Hence, the 1st EMI amount may be different from subsequent EMIs.

• Difference between Booking confirmation date and the first bill Payment Due Date as per the credit card statement cycle >30 days: 1st EMI amount will be more than other EMI.
• Difference between Booking confirmation date and the first bill Payment Due Date as per the credit card statement cycle = 30 days: 1st EMI amount will be equal to other EMI.
• Difference between Booking confirmation date and the first bill Payment Due Date as per the credit card statement cycle <30 days: 1st EMI amount will be less than other EMI.

16. At any given month the portion of the monthly repayment amount applied towards interest is determined by multiplying the reducing interest rate with the principal outstanding after the deduction of the previous month repayment amount. In other words, the reducing rate of interest is the rate which when charged brings the outstanding principal to zero at the end of the tenor, where the interest charged is calculated on a reducing principal balance. Illustrative example of amortization scheduled given in the last clause in this document.

17. Post submitting the request for Pay in EMI on Google Pay app, Cardholders are expected to pay the remaining outstanding due for the month. Non-payment of the remaining outstanding amount will attract Late Payment Fees and a standard Finance Charge as per Cardholders MITC. https://www.sbicard.com/en/mostimportant-terms-and-conditions.page

18. For Minimum Amount Due charges and Order of Payment Settlement, please refer to the MITC: https://www.sbicard.com/en/most-important-terms-andconditions.page.

19. The monthly EMI amount of Pay in EMI facility will be part of Minimum Amount Due (MAD) and non-payment of MAD will attract Late Payment Fees and a standard Finance Charge as per Cardholders MITC. https://www.sbicard.com/en/most-important-terms-and-conditions.page

20. In the event of non-payment / short payment of the Minimum Amount Due for more than three successive months, the Pay in EMI facility shall be closed/withdrawn and the principal outstanding along with the outstanding interest accrued till the date of such closure shall be debited to the Credit Card Account and appear in the subsequent monthly statement. SBI Card shall be entitled to demand immediate repayment of such consolidated outstanding amounts. As a part of the Credit Card Account, this balance will attract all applicable charges as per Cardholders MITC. (link for MITC) https://www.sbicard.com/en/most-importantterms-and-conditions.page

21. It is stipulated, if the Google Pay Flex SBI Credit Cardholder is revolving at the time of request for transfer of retail purchase to Pay in EMI, he will continue to be charged the standard credit card charge as per MITC on his revolving balance till the time the transfer to Pay in EMI actually takes place within the Term defined hereinabove.

22. The accrued reward points for transactions converted to Pay in EMI would not be forfeited

23. Cancelation for Pay in EMI for the current statement will be allowed from Pay in EMI plan open date till Payment Due Date + 4 days. For all cancellation requests raised within this window, all fees and charges will be reversed. Cardholders intending to cancel Pay in EMI can do so only after the booking reflects in SBIC system by calling our Helpline Number before PDD+4 days and get the cancellation request raised. After PDD +4 days, Pay in EMI booking can only be foreclosed. Pay in EMI can be foreclosed by raising a request for foreclosure on the ongoing Pay in EMI on SBI Card website or via SBI Card helpline. (helpline no.)

24. For Pay in EMI foreclosures, interest will either be debited/ Credited basis the foreclosure request date, billing date, Plan Open date and payment due date and will be adjusted to the Foreclosure Charges

Glossary

• POD: Plan Open date
• FRD: Foreclosure Request Date
• B1: 1st Bill Date (containing the first EMI billing)
• PDD 1: First Bill Payment Due Date
• B2: 2nd Bill Date (containing the second EMI billing)
• PDD 2: Second Bill Payment Due Date

a) Foreclosure Request Date (FRD) is before First Bill Date (B1)

• Cardholder will be debited interest amount for the days Plan Open Date (POD) & The Foreclosure Request Date (FRD)
• The interest amount will be calculated as {1st EMI Interest / (PDD1 – POD)} X (FRD - POD)

b) Foreclosure Request Date is after First Bill Date (B1) & before First Bill Payment Due Date (PDD1)

• Cardholders will be credited a portion of billed interest amount for the days between the Plan Open Date (POD) & the 1st Bill Payment Due Date (PDD 1)
• Interest credited will be calculated as {1st EMI Interest / (PDD 1 – POD)} X (PDD 1 - POD)

c) Foreclosure Request Date is after First Payment Due Date (PDD 1) & before 2nd Bill Date (B2)

• Cardholders will be debited interest amount for the days between the Foreclosure Request Date (FRD) and 1st Bill Payment Due Date (PDD 1)
• Interest debited will be calculated as {2nd EMI Interest / (PDD 2 – PDD 1)} X (FRD – PDD1)

d) Foreclosure Request Date is after 2nd Bill Date (B2) & before 2nd Bill Payment Due Date (PDD2)

• Cardholders will be credited a portion of billed interest amount for the days between 1st Bill Payment Due Date (PDD 1) and 2nd Bill Payment Due Date (PDD 2)
• Interest credited will be calculated as {2nd EMI Interest / (PDD 2 – PDD 1)} X (PDD 2 – FRD)

While above points b, c & d refer to EMIs billed in 1st & 2nd Bill dates, the interest computation logic applies to EMIs billed in subsequent billing dates as well The interest computations in the above scenarios will be over & above the Foreclosure Fee of 3% on the principal outstanding on a pro-rata basis, plus applicable taxes. Foreclosure requests placed on statement generation date may attract extra interest.

For successful closure of the Foreclosure Service Request, the complete foreclosure amount needs to be paid within the timeline communicated at the time of placing foreclosure request

25. At the time of cancellation/foreclosure of Pay in EMI, if the Google Pay Flex SBI Credit Cardholder’s account is revolving, then the amount (Pay in EMI Principal amount + Foreclosure fee (if applicable) + applicable taxes) will be added to the revolving balance and will attract standard credit card interest charges as per MITC.

26. Booking a Pay in EMI will be deemed as acceptance of the terms and conditions of this program as set forth on www.sbicard.com and/or any other medium chosen by SBICPSL.

27. Transfer from one Pay in EMI to another Pay in EMI booking is not permissible.

28. The terms and conditions of Pay in EMI bookings may be altered, amended or changed by SBICPSL at its sole option and discretion at any time without affecting the Pay in EMI bookings already done.

29. Google Pay Flex SBI Credit Cardholders are not bound in any way to participate in this program. Any such participation is voluntary. Pay in EMI is offered by SBICPSL on best effort basis.

30. Applicable Taxes (GST)" means:

• for the Cardholders having State of residence in the records of SBI Card on the statement date as "Haryana" - Central Tax @ 9% and State Tax @ 9%
• for the cardholders having State of residence in the records of SBI Card on the statement date as other than "Haryana" - Integrated Tax @ 18%

  31. All and any disputes or differences arising from the Offer shall be subject to arbitration within the meaning of the Indian Arbitration and Conciliation Act, 1996 and amendment thereof. A sole arbitrator appointed by arbitrator shall be final and binding on the disputing parties. The place of arbitration shall be New Delhi, and the language of arbitration shall be English. The existence of a difference /dispute shall not constitute a claim against SBICPSL.

32. Illustrative example of amortization schedule:

Principal Amount	16000
MRA (2nd EMI onwards)	1474.51
R. O. I. (^)	19%
Tenure	12 months
Plan Open Date	3-Jan-26
First Billing Date	2-Feb-26
First Payment Due Date (**)	22-Feb-26

**51 Days from the Plan Open date

Tenure (Months)	MRA Billing Date*	MRA^^ (Rs)	Interest (Rs)	Principal (Rs)	Outstanding Balance (Rs)	Applicable Taxes# (Rs)
1	2-Feb-26	1651.84	430.66	1221.18	14778.82	77.52
2	2-Mar-26	1474.51	234.00	1240.51	13538.31	42.12
3	2-Apr-26	1474.51	214.36	1260.15	12278.16	38.58
4	2-May-26	1474.51	194.40	1280.11	10998.05	34.99
5	2-Jun-26	1474.51	174.14	1300.37	9697.68	31.35
6	2-Jul-26	1474.51	153.55	1320.96	8376.72	27.64
7	2-Aug-26	1474.51	132.63	1341.88	7034.84	23.87
8	2-Sep-26	1474.51	111.38	1363.13	5671.71	20.05
9	2-Oct-26	1474.51	89.80	1384.71	4287.00	16.16
10	2-Nov-26	1474.51	67.88	1406.63	2880.37	12.22
11	2-Dec-26	1474.51	45.61	1428.90	1451.47	8.21
12	2-Jan-27	1474.51	22.98	1451.53	-0.06	4.14

The above is an Illustrative example of amortization schedule and the actual amortization schedule will be part of the email sent to the Cardholder.

*MRA (Monthly Repayment Amount) Billing Date is the monthly statement date. For payment due date, please refer to your monthly statement.

^^MRA(Rs) (Monthly Repayment Amount) Excluding Applicable Taxes.

^This rate of interest is used to calculate the monthly repayment amount.

#Applicable Taxes (GST) means:

a) for the cardholders having State of residence in the records of SBI Card on the statement date as "Haryana" - Central Tax @ 9% and State Tax @ 9%

b) for the cardholders having State of residence in the records of SBI Card on the statement date as other than "Haryana" - Integrated Tax @ 18%