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SBI EMI Credit Cards Flexi Pay


Now make big purchases on your card and convert them to easy monthly installments


- Any transaction of Rs.2500 & above can be converted to Flexipay.

- Transaction can be converted to Flexipay within 30 days of purchase.

- Tenure option of 6, 9, 12 & 24 months.


- Pay in easy installments as low as Rs.54 per Rs.1000.

- Save on higher credit card interest rate.

How to convert to Flexipay

- Call 39020202 or 18601801290 (if calling from BSNL/ MTNL lines)

- SMS FP to 56767

Fees & Charges:

SBI EMI Card Revolving Credit Facility

- Flexipay carries a flat rate of interest of 14.5% p.a.

- A one time processing fee will be charged at the rate of 2% subject to a minimum of Rs.199 & maximum of Rs.1000.

- In case you wish to foreclose/cancel your Flexipay Plan, a 3% cancellation fee will be levied on the outstanding principal amount.

First Time User

  1. First time user to Click here 
  2. Enter your SBI Card details
  3. Your One Time Password will be sent to you instantly on your registered e mail id and Mobile number
  4. Log in with your card no and One Time Password.
  5. Create your user id and change default password
  6. Click on book Flexipay on the left hand menu navigation
  7. Fill in the Flexipay details and submit

Existing user

  1. Log On to SBI Card Online with your User Id and Password on the homepage
  2. Click on book Flexipay in the left hand menu navigation.
  3. Fill in the Flexipay details and submit

Click here to be redirected to the homepage

1. The Flexipay facility is open to all residents of India holding a valid and current SBI credit card issued by SBI Cards and Payment Services Private Limited (“SBICPSL”) with Minimum Amount Due (“MAD”) as reflected in the last Statement of Account (“ SOA”) paid in full.

2. The Flexipay facility is not available to the delinquent and any other ineligible SBI credit cardholders determined as per the internal policy of SBICPSL. Accordingly approval of Flexipay facility is at the sole and absolute discretion of SBICPSL.

3. The Flexipay facility may be availed by the SBI credit cardholder by way of telephone and/or   by way of online booking made via

4. Rate of Interest

Default rate: The Flexipay facility carries a 14.5% flat rate of interest.
Dynamic rate: A differential interest rate policy for Flexipay has been incorporated for a select set of cardholders. Under this policy, the applicable interest rate is specific to the cardholder and is intimated prior to availing the facility. The offered rate of interest is determined by factors such as, but not limited to:

• Past transaction / repayment behavior of the customer
• Credit risk profile

The cost of funds and other operational costs for the business also determine the rate of interest. Under this program the interest rate ranges from 8% - 18% p.a. (flat rate of interest).

5. Changes in factors mentioned above may result in upward or downward revision of the interest applicable on the Flexipay facility from time to time / from offer to offer at the sole discretion of SBI Cards. All fees / charges applicable to the facility may or may not be dynamic and are subject to modifications based on SBI Cards periodic internal review.

6. Additionally a processing fee will be charged on the Flexipay amount at the rate of 2% subject to a minimum of Rs.199/- and a maximum of Rs.1000/-.

7. The Flexipay facility from SBICPSL is available over different tenures of 6, 12, 24 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 Rs. 30,000.

8. The Flexipay facility is subject to a minimum single retail purchase amount of Rs. 2,500 or more. The SBI Credit Cardholders, on making a purchase of Rs. 2,500 or more can call up SBI Card help line within 30 days of the purchase / before the Payment Due Date (whichever is earlier) and ask for transfer of the said retail transaction amount to Flexipay. It is further clarified that transactions under certain merchant categories like Fuel and Jewelry (in view of guidelines issued by the Reserve Bank of India) cannot be converted into Flexipay. Accordingly and in pursuant thereto , SBI Card at its sole instance may decline Flexipay facility on such transaction categories.

9. For the purposes of booking Flexipay, the period of 30 days from the date of the retail transaction/ before the Payment Due Date (whichever is earlier) is the defined term (“Term”). If any transaction is converted to Flexipay after the Payment Due Date (“PDD”), interest charges of 3.35% will be levied on the transaction amount for the period beginning from the date of transaction to the date on which Flexipay conversion takes place. Additionally it is clarified that irrespective of the foregoing charges, a cardholder who has not paid the “MAD” in full, late payment charges will be levied.

10. It is clarified that, if the said retail transaction is paid in full the same cannot be converted to Flexipay. If the transaction amount is partially paid and the unpaid amount is equal to Rs.2500 or more, only the unpaid balance amount can be converted to Flexipay.

11. In case the SBI Credit cardholders has made multiple retail purchase transactions, each one of them more than Rs. 2,500, then the SBI Credit Cardholders can combine these transactions and move the consolidated purchase amount to the Flexipay Scheme.

12. The Flexipay facility is applicable/available only on retail purchases (subject to minimum single retail transaction of Rs. 2,500 or more) made by either Primary or Add on SBI Credit Card. No request from Add on SBI Credit Cardholder will be entertained for transfer of retail purchases to Flexipay.

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

14. It is stipulated, if the SBI credit cardholder is revolving at the time of request for transfer of retail purchase to Flexipay, he will continue to be charged the standard credit card charge of 3.35% on his revolving balance till the time the transfer to Flexipay actually takes place within the Term defined hereinabove.

15. Upon Flexipay approval, the SBI Credit Cardholder credit limit shall be blocked upto Flexipay Principal Amount + Processing Fee. The Credit limit gets adjusted as and when the Flexipay installment payments are made by the SBI credit cardholder.

16. A SBI credit card holder can take multiple Flexipay subject to the available credit limit on his SBI Credit Card account.

17. Flexipay monthly installment is calculated as (Flexipay Principal Amount + Flexipay interest charge)/ Tenure. Example: Principle amount is Rs.10,000, Interest rate is 14.5% p.a. and Tenure is 24 months. The total interest charge will be (10,000 * 14.5% * 24/12) = Rs.2,900. The EMI is calculated as (10,000 + 2,900)/24.

18. 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 amortisation scheduled given in point No. 23.

19. Flexipay monthly installment schedule will begin from the SBI Cardholder next billing statement and continue over the Flexipay tenure. The Flexipay monthly installment (s) shall be included in the MAD of the Statement of account in the duration of the Flexipay tenure.

20. The MAD will be 5% of the SBI Cardholder existing revolving balances (Retail/Cash/Balance Transfer) and Flexipay monthly installment due (or all Flexipay monthly installments due in case of multiple Flexipays booked by the Cardholder).

21. Non Payment of MAD will attract normal late payment fees and a standard credit charge of 3.35% on the unpaid Flexipay monthly installments.

22. Under Payment of MAD will attract normal late payment fees and a standard credit charge of 3.35% on the unpaid Flexipay monthly installments

23. In the event of non-payment / short payment of the Minimum Amount Due for more than three successive months or 90 days whichever is earlier, the Flexipay shall be closed on 91st day 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 now attract all the charges including finance charges at the credit card rate of interest, over-limit charges in the event account balance post transfer of loan outstanding if any exceeds the existing Credit Card limit as mentioned in the cardholders MITC. 

24. In the event, a cardholder puts a cancellation request, within 45 days of Flexipay facility getting booked then all fees charged will be reversed.

25. The SBI Cardholder can make request for cancellation of Flexipay by calling the SBI Card helpline.  On receipt of this request, the outstanding Flexipay principal amount is moved back to SBI Cardholders retail balance and a cancellation fee of 3% post 45 days shall be levied on the same. The outstanding principle amount is calculated basis reducing interest rate.

26. At the time of cancellation of Flexipay, if the SBI Cardholders account is revolving, then the above mentioned amount (Flexipay Principal amount + Cancellation fee) will be added to the revolving balance and will attract a standard credit card interest charges.

27. Booking a Flexipay on phone will be deemed as acceptance of the terms and conditions of this programme as set forth on and/or any other medium chosen by SBICPSL.

28. Flexipay booking requests sent by mail or electronic mail will be considered valid only if received by SBICPSL within 30 days of transaction date/ before the Payment Due Date (whichever is earlier).

29. No request for Flexipay will be entertained within 90 days of SBI Cardholder’s flipping/change of card request.

30. Transfer from one Flexipay to another will not be entertained.

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

32. SBI credit cardholders are not bound in any way to participate in this program. Any such participation is voluntary. Flexipay is offered by SBICPSL on best effort basis.

31. Government service tax shall be levied on all fees, interest charges, etc as applicable.

33. 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. A sole arbitrator appointed by SBICPSL for this purpose shall carry out arbitration of all such disputes and/or differences. The award of the 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. Existence of a difference /dispute shall not constitute a claim against SBICPSL.

33. Illustrative example of amortisation schedule:


Amortization schedule
Sr. No. Billing date Installment(Rs.) Interest(Rs.) Principal(Rs.) Balance(Rs.) GST#(Rs.)
1 18-May-15 954.17 214.72 739.44 9260.56 30.06
2 18-Jun-15 954.17 198.85 755.32 8505.23 27.84
3 18-Jul-15 954.17 182.63 771.54 7733.69 25.57
4 18-Aug-15 954.17 166.06 788.11 6945.59 23.25
5 18-Sep-15 954.17 149.14 805.03 6140.56 20.88
6 18-Oct-15 954.17 131.85 822.31 5318.24 18.46
7 18-Nov-15 954.17 114.19 839.97 4478.27 15.99
8 18-Dec-15 954.17 96.16 858.01 3620.26 13.46
9 18-Jan-16 954.17 77.74 876.43 2743.83 10.88
10 18-Feb-16 954.17 58.92 895.25 1848.58 8.25
11 18-Mar-16 954.17 39.69 914.47 934.11 5.56
12 o 954.17 20.06 934.11 0 2.81




Installment Rs.954.17
R.O.I (*) 14.50%
Tenure 12 Months

# Government Service Tax calculated @ 14% of interest component.

* - This is the flat rate of interest and is used to calculate the installment amount. The above flat rate of interest translates into 25.77% p.a. reducing interest rate.

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