Get Consumer Durable Loans – Debit Card EMI & Online EMI in India | SBI - Personal Banking
टिकाऊ उपभोक्ता वस्तुओं के लिए ऋण


Consumer Durable Loans – Debit Card EMI & Online EMI
About Debit Card EMI
Let your Debit Card give you joy on-the-go and EMI on-the-spot! With Debit Card EMI from SBI, you can conveniently convert your transactions to Easy EMIs at both POS and e-commerce portals.
POS EMI | Online EMI |
---|---|
EMI facility to pre-approved customers, for purchasing Consumer Durables / Merchandise / Grocery / Services such as Healthcare, Hospitality, Insurance etc./ Two-Wheeler, etc. at POS through use of SBI Debit Card. | EMI facility to pre-approved customers, for purchasing Consumer Durables / Merchandise / Grocery / Services such as Healthcare, Hospitality, Insurance etc./ Two-Wheeler, etc. at various merchant’s portals/sites. |
Features and Benefits
- Loan amount up to Rs 2 lakh
- Flexible tenure options: 3/6/9/12/18/24/30/36 months.
- Loan amount and tenure combination as per the table below:
No. Amount (in Rs) Tenure (in months) 1 3,000 – 25,000 3,6,9,12 months 2 Above 25,000 - up to 50,000 3,6,9,12,18,24 months. 3 Above 50,000 and up to 200,000 3,6,9,12,18,24,30,36 months. - Applicable Rate of interest: 2-Yr MCLR + 9.70%
However most of the Consumer Durable products are available at no cost EMI offered by Brands - Zero Processing Fee
- Pre-payment penalty : 3% of the pre-paid amount.
- No blocking of Savings account balance.
- Zero documentation & instant disbursal.
- Customers can avail EMI facility to a maximum of Five times by checking their eligibility either online or through POS machines within the given limit &/or periodically communicated via SMS/E-mail and /or by sending SMS DCEMI to 567676 from their registered mobile no. with the Bank.
Loan Process Flow
1. POS EMI
- Customer swipes SBI Debit Card on Pine Labs POS Machine at merchant store
- Selects - Brand EMI - Bank EMI
- Enters - Amount - Repayment tenor
- POS machine checks if customer is eligible
- If eligible, customer enters PIN and Presses OK
- Loan Amount booked success message is received by POS
- Charge Slip containing Terms & Conditions of Loan is printed
- Customer signs the charge slip containing Terms & Conditions
2. Online EMI
- Customer visits merchant site (Where Billdesk or PayU is the payment gateway provider)
- Selects the required brand article
- Proceeds for payment
- Following options appear 1. Net Banking 2. Debit/ Credit Card3. Payment wallets 4. Easy EMI (Select)
- Following options appear 1. SBI (select) 2. HDFC 3. ICICI 4. AXIS
- Customer selects EMI Plan (3/6/9/12/18/24/30/36 months)
- Customer enters mobile number to check eligibility
- If eligible, SBI Login page appears, Customer enters INB credentials or Debit Card credentials
- System asks for OTP confirmation for authentication of transaction
- After successful OTP confirmation, successful message with loan details gets displayed to the customer
Pre-approved Online and POS EMI Loan | Terms and Conditions
Minimum Loan Amount: Rs. 3,000/-
Maximum Loan Amount: Rs. 2,00,000/-
Tenure – 3/6/9/12/18/24/30/36 months
Rate of Interest – 18.30%
Loan amount and tenure combination as per the table below:
No | Amount (in Rs) | Tenure (in months) |
---|---|---|
1 |
3,000 – 25,000 |
3,6,9,12 months |
2 |
Above 25,000 - up to 50,000 |
3,6,9,12,18,24 months. |
3 |
Above 50,000 and up to 200,000 |
3,6,9,12,18,24,30,36 months. |
- These terms and conditions (‘the Terms’) shall apply to SBI DC (Debit Card) EMI Loan / Credit applied by the Customer or Borrower using the POS machine / Online EMI Loan journey and shall be effective on and from the date of availing the Loan and shall form the agreement between State Bank of India, a statutory body constituted under State Bank of India Act 1955, having its corporate office at State Bank Bhawan, Madame Cama Road, Nariman Point, Mumbai- 400021 and home Branch of the customer or the borrower for availing the DC EMI Loan by applying for the facility, the customer acknowledges and accept the terms.
- In Online EMI, The Loan can be availed through payment gateway / aggregator on selective online merchants by entering Internet Banking or Debit Card credentials. The loan amount shall be equivalent to the transaction amount and the loan account shall be created upon acceptance of Terms & Conditions herein. In POS EMI, loan is offered through POS (Point of Sales) machines of payment aggregator in offline mode at merchants’ outlets. Interest Rates/ penal interest/charges mentioned on the charge slip should be read along with the detailed Terms & Conditions published on Bank’s website i.e. www.sbi.co.in which shall form part and parcel of this Terms and Conditions (T&C). Terms and Conditions signed by the borrower in the chargeslip is an acknowledgement of having understood the terms of loan and its acceptance. The T&C mentioned in the charge slip are displayed at Bank’s website also.
- By accepting these Terms and Conditions the Borrower duly acknowledges that she/he can understand, read, and write in English or Hindi language.
- At any point of time, up to 5 Transactions (inclusive of both online and off-line purchases) are eligible for EMI loan facility subject to maximum pre-approved loan limit.
- No processing fee will be levied upon availing of this loan.
- The Bank will not be liable for any unauthorized access to avail Online EMI Loan/ POS EMI loan through payment gateway / aggregator POS machine provider on selective merchants by putting Internet Banking or Debit Card credentials. The Bank will not be liable for any unauthorised access to the said digital platforms / channels through the use of password / MPIN of the customer / borrower on INB or through customer registered mobile number. The credit of the loan proceeds to the vendor’s account / pooling account would deem / would be sufficient to construe that the borrower has duly authenticated availing of the loan using INB / Debit Card credentials.
- Interest on the loan will be charged on daily reducing balance. The rate of interest will be fixed for the entire tenure of the loan.
- A standing instruction for Equated Monthly Instalment (EMI) will be set up on the Saving account automatically upon availing this facility.
- The loan cannot be used for any other purposes other than purchase of products at online & offline stores/shops of our approved merchants’/ partners.
- Penal charge as applicable will be charged on failed standing instructions due to insufficient balance in the account
- SBI is not liable for any technical errors that occurs while processing EMI at POS terminal / Online merchant sites.
- SBI is not responsible for any issues related to purchased goods such as quality, delivery, etc. and should be taken up with the merchant only.
- Cancellation of any successful EMI transaction may be allowed only if merchant agrees to the same and must be made well before the day end or merchant settlement whichever is earlier.
- SBI is not responsible for any cash back promised by the merchant/OEM (Original Equipment Manufacturer). However, SBI agrees to pass on the cash back amount if any received from the merchant/OEM promptly to the customer.
- All The decisions made by SBI, regarding eligibility and sanctioning of EMI facility to the customer are final and guided by the Bank’s internal guidelines.
- The loan is to be repaid in Equated Monthly Instalments. The number of equated monthly instalments may increase/vary if the EMI is not repaid on-time or short paid by/with the stipulated number of equated monthly instalments and in such circumstances the penal interest, cost, charges shall be added to such outstanding as may be applicable under the Terms. The equated monthly instalments will have to be paid till the entire loan with interest is fully repaid. The first instalment commences within one month from the date of disbursement of loan. The subsequent instalments shall fall on or before the same date of each succeeding month thereafter, till the entire loan is fully repaid with the interest and other unpaid penalty, costs, charges and expenses, if any. Frequency of repayment: Monthly
The tentative breakup between principal and interest for the tenure of the loan shall be as under:
Repayment schedule
Due Date | Amount to be repaid* | ||
---|---|---|---|
Principal Due | Projected Interest | Total Repayment | |
xx/xx/xxxx |
xx |
xx |
xx |
xx/xx/xxxx |
xx |
xx |
xx |
xx/xx/xxxx |
xx |
xx |
xx |
*based on interest rate mentioned in Key Fact Table.
- In the event of default in payment of any instalment or any irregularity in the loan account, penal interest at the rate of 2% p.m. over and above the stipulated interest rate with monthly rests will be charged for the irregular amount and overdue period.
- In the event of the borrower failing to repay any instalment(s) at any point of time, the Bank may send written reminders or make telephone call/ SMS or depute an official to meet borrower personally, all the incidental charges appurtenant thereto such as postage, telephone/ SMS charges, transportation charges, on actual would be recovered from Borrower.
Example of SMA/NPA Classification dates.
Loans other than revolving facilities: | |
---|---|
SMA Sub- categories | Basis of classification – Principal or interest payment or any other amount wholly or partially overdue. |
SMA-0 |
Up to 30 days |
SMA-1 |
More than 30 days and up to 60 days |
SMA-2 |
More than 60 days and up to 90 days |
NPA |
More than 90 days |
- Example:
- If due date of repayment of a loan account is March 31,2022, and full dues are not received before the Bank runs the day-end process for this date, the date of overdue shall be March 31,2022.
- If it continues to remain overdue, then this account shall get tagged as SMA1 upon running day-end process on April 30,2022 i.e., upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30,2022.
- Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running day-end process on May 30,2022 and if continues to remain overdue further, it shall get classified as NPA upon running-end process on June 29,2022.
- A 3% Prepayment charges will be levied by the Bank on excess amount paid over applicable EMI and/or 3% Foreclosure charges will be levied by the Bank on preclosure amount.
- If:
- the borrower fails to pay any amount under this arrangement on or before the due date or commits breach of any of the terms, covenants, or conditions contained in this arrangement; or
- it is found that the borrower has made any misrepresentation to the bank; or
- there exist any circumstances which in the opinion of the bank prejudicially affects or may affect the bank's interest or the borrower's ability to repay the loan; or
- the borrower commits any default under any other arrangement with the bank;
Then the Bank, without prejudice to its other rights, shall be entitled at its option to demand immediate repayment of the total outstanding amount of the loan, interest, additional interest, fees, costs, charges, expenses, stamp duty and all other sums whatsoever payable by the borrower to the bank under this arrangement and/ or in connection with the loan (hereinafter collectively referred to as 'the borrower's outstanding’s') and the borrower shall pay the same to the bank forthwith.
- Notwithstanding anything contained elsewhere in this Terms & conditions, the continuation of the loan shall be at the sole and absolute discretion of the bank and the borrower's outstandings shall be payable by the borrower to the bank on demand. The bank may at any time in its sole discretion and without assigning any reason call upon the borrower to pay the borrower's outstandings and thereupon the borrower shall pay the whole of the borrower's outstandings to the bank without any delay or demur.
- It is a precondition of the loan advances given to the Borrower by the bank, that in case of default in repayment of the loan/ advances or in the repayment of the interest thereon or any of the agreed instalment of the loan on due date/s or in maintaining the outstanding amount within the drawing power at any point of time, the bank and/ or the Reserve Bank of India will have an unqualified right to disclose or publish his/her name(s) as defaulter in such manner and through such medium as the bank or Reserve Bank of India their absolute discretion may think fit and the borrower will not claim any right of secrecy to his/her account.
- The Terms and Conditions mentioned herein form the contract between the Borrower availing the Loan facility through payment gateway / aggregator on selective online merchants by providing Internet Banking (onlinesbi) or Debit Card credentials. By ticking the checkbox during undertaking the journey, the Borrower duly acknowledges and accepts these Terms & Conditions. In addition to these Terms and Conditions, any other conditions relating to the accounts of the customer/borrower including but not limited to those governing Internet Banking / Debit Card services will also apply to this Loan. In the event of any conflict between these Terms and Conditions and such other conditions, these Terms and Conditions will continue to prevail in respect of the Loan.
- The terms mentioned herein shall include any subsequent modifications or changes to it duly made by the Bank and published in the portal or Bank website sbi.co.in/ or bank.sbi The agreement shall remain valid until the facility is liquidated by the customer to the satisfaction of the Bank.
- In case of any default, the Bank reserves the right to use the services of resolution agents/collection agents for recovery of loans and their service charges, if any, will be borne by the customer.
- The cancellation of the transaction for the purchase of the Product for which Loan has been utilised either by the Borrower or the merchant concerned shall lead to an automatic cancellation of the entire Loan and all amounts due from the Borrower in respect of the Loan shall forthwith become due and payable to the Bank. It is further clarified that amounts already paid towards interest on the Loan shall not be reversed or repaid by the Bank to the Borrower.
- State Bank of India may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. (CIBIL) and any other agency authorised in this behalf by RBI. The Credit information Bureau (India) Ltd. (Cibil) and any other agency so authorised may use, process the said information and data disclosed by State Bank of India in the manner.
Key Fact Statement
Date: XXX Name of the Regulated entity: SBI Applicant Name: XXX
Branch Name: XXX Branch Code: XXXX Date & Time Stamp:XXXXXX
Sr. No. | Parameter | Remarks | Details (given for illustrative computation purpose only) |
---|---|---|---|
(i) |
Loan amount (amount disbursed / to be disbursed to the borrower) (in Rupees) |
20,000 |
|
(ii) |
Total Interest charge during the entire tenor of the loan (in Rupees) |
This amount is only indicative and the actual will be dependent on change of interest and repayment. |
2,037.47 |
(iii) |
Other-up front charges, if any (break of each component to be given below) (in Rupees) |
0 |
|
a |
Processing fees, if any (in Rupees) |
0 |
|
b |
Insurance charges, if any (in Rupees) |
0 |
|
c |
Others (if any) (in Rupees) (details to be provided) |
0 |
|
(iv) |
Net disbursed amount ((1) – (3)) (in Rupees) |
The Loan amount is equal to disbursed amount |
20,000 |
(v) |
Total amount to be paid by the borrower (sum of (1), (2) and (3) (in Rupees) |
This amount is only indicative and the actual will be dependent on change of interest and repayment. |
22037.52 |
(vi) |
Annual Percentage Rate – Effective annualized interest rate (in percentage) (computed on net disbursed amount using IRR approach and reducing balance method |
8.12% | |
(vii) |
Tenor of the Loan (in month/days) |
12 months |
|
(viii) |
Repayment frequency by the borrower |
Monthly |
|
(ix) |
Number of instalments of repayment |
12 |
|
(x) |
Amount of each instalment of repayment (in Rupees) |
1836.46 |
|
Details about Contingent Charges |
|||
(xi) |
Rate of annualized penal charges in case of delayed payments (if any) |
Loan up to Rs 25000 - Nil Loan > =Rs 25000 - @ 24% p.a. over and above the applicable Rate of interest on the overdue/irregular amount This charge is applicable monthly till the irregularity persists. |
|
(xii) |
Rate of annualized other penal charges (if any); (details to be provided |
3% of prepaid amount. No prepayment / foreclosure charges will be applicable if the account is closed because of refund / cancellation of order or return of goods within 30 days for online EMI Loan |
|
Other disclosures |
|||
(xiii) |
Cooling off/look-up period during which borrower shall not be charged any penalty on prepayment of loan |
- |
|
(xiv) |
Details of LSP acting as recovery agent and authorized to approach the borrower |
Recovery agents are empanelled as per the criteria approved by the Bank. This service shall be utilised after the account become NPA and hard recovery measure is adopted. |
|
(xv) |
Name, designation, address and phone number of nodal grievance redressal officer designated specifically to deal with FintTech/ digital lending related complaints / issues |
Available on Bank’s site |
|
(xvi) |
Interest type (Floating or Fixed) |
Fixed |
|
(xvii) |
Date of interest reset |
No reset |
|
(xviii) |
Mode of communication of changes in interest changes in interest rates/MCLR/APR |
Published on Bank’s website |
|
(xix) |
Conversion charges for switching from floating to fixed interest and vice-versa |
Not Applicable |
|
(xx) |
Details of security / collateral obtained |
NIL |
Detailed Repayment Schedule (illustrative) | ||||
---|---|---|---|---|
Instalment No. | Outstanding Principal (in Rupees) | Principal (in Rupees) | Interest (in Rupees) | Instalment (in Rupees) |
1 | 20000.00 | 1531.46 | 305.00 | 1836.46 |
2 | 18468.54 | 1554.81 | 281.65 | 1836.46 |
3 | 16913.73 | 1578.53 | 257.93 | 1836.46 |
4 | 15335.20 | 1602.60 | 233.86 | 1836.46 |
5 | 13732.60 | 1627.04 | 209.42 | 1836.46 |
6 | 12105.56 | 1651.85 | 184.61 | 1836.46 |
7 | 10453.71 | 1677.04 | 159.42 | 1836.46 |
8 | 8776.67 | 1702.62 | 133.84 | 1836.46 |
9 | 7074.05 | 1728.58 | 107.88 | 1836.46 |
10 | 5345.47 | 1754.94 | 81.52 | 1836.46 |
11 | 3590.53 | 1781.70 | 54.76 | 1836.46 |
12 | 1808.83 | 1808.88 | 27.58 | 1836.46 |
Total |
- |
- |
2037.47 | 22037.52 |
TERMS & CONDITIONS MENTIONED ON CHARGE SLIP
Transaction Amount: Rs xxxxx ( as per POS print out)
Loan amount: Rs xxxxxx ( as per POS print out)
Tenure: 3/6/9/12/18/24/30/36 months
Applicable Rate of Interest: 2yr MCLR+9.70% p.a.
EMI Amount: Rs xxxxx ( as per POS print out)
I have requested SBI Bank to
- 1. Penal interest on irregularity: 2% above applicable rate
- 2. MEP fee: Rs 2 per transaction
- 3. Penalty for failed SI: Rs 500 + GST
- 4. Prepayment penalty: 3% of pre-paid amount.
- 5. SBI is not liable for any technical errors while processing
- 6. SBI is not liable for the quality of goods purchased
- 7. Transaction cancellation allowed. However, merchant may replace the defective goods.
- 8. Cash back and No Cost EMI offers, if any is the responsibility of the merchant/Brand
- 9. All the decisions of SBI, regarding EMI is final and guided by the internal policy
CUSTOMER CONSENT FOR EMI
- 10. I hereby request State Bank of India to convert this transaction in EMI facility on Debit Card as per the aforesaid tenure and rate of interest.
- 11. I have fully understood and accept the T&Cs of converting this transaction to EMIs and I agree to be bound by the detailed Terms and Conditions as mentioned on State Bank of India website (www.onlinesbi.com/sbi.co.in)
- 12. I understand that the transaction will be processed within 4 working days and no saving account interest will be offered to me on the said amount during the processing period.
- 13. Auto-debit facility will be enabled on my savings account for this EMI facility.
- 14. On failure of EMI payment dues, Bank can take legal action as per section 138 or collect the due amount by marking lien on my saving account to recover the outstanding due amount.
- 15. If I am ineligible for this facility, this transaction will be considered as a normal transaction.
- 16. I hereby undertake and declare that the said amount sanctioned and is utilised shall be deemed to be for my benefit and purpose.
- 17. Bank has the sole right to decline or accept any EMI conversion request subject to the eligibility of the customer.
- 18. The facility is subject to applicable laws and regulations and would be modified or terminated as per laws at any point of time without bank obligation to continue.
Consumer Durables & Ecommerce Schemes
Scheme
|
2 Year
MCLR
|
Spread over 2 Year MCLR
|
Effective Interest Rate
|
---|---|---|---|
DL for e-Commerce purchases(Online EMI) |
8.60% | 9.70% | 18.30% |
DL for e-Commerce purchases(POS EMI) |
8.60% | 9.70% | 18.30% |
DC EMI Loan is end-to-end digitized products offered to Bank’s pre-approved customers to purchase consumer durables / merchandise / services such as healthcare, hospitality, grocery, two-wheeler, etc. It can be availed by pre-approved customers through their ATM cum debit card and / or internet banking credentials.
No, only pre-approved customers of Bank are eligible to avail the loan.
Pre-approved set of customers as identified by the Bank.
Customers can know their eligibility & eligible loan amount by sending SMS “DCEMI” to 567676 from their registered mobile number with Bank.
No, only Customer holding account with SBI in Single name can avail the facility.
Pre-approved customers are identified normally at monthly intervals and their eligibility is normally valid for 1 month and / or until next list of pre-approved customers is prepared by the Bank.
These loans are available to pre-approved set of customers between 08:00 AM IST to 08.00 PM IST on all days.
No security is required. Customer has to repay loan in easy EMIs.
Interest is charged @ 2 Year MCLR +9.70 %, fixed for all tenures. (Effective ROI as on15.05.2023 is 18.30%).
The minimum loan amount is Rs. 3000. Maximum limit varies from customer to customer with upper limit fixed at Rs 2.00 lac. Loan amount is equivalent to the price of product / services purchased subject to these limits.
The EMI repayment facility is available for 8 tenures – 3/6/9/12/18/24/30/36 months.
An SI equivalent to the monthly instalment amount (EMI) is set up automatically upon availing the DC EMI loan facility by the customer.
ONLINE EMI / POS EMI loan account is visible on Internet Banking/onlinesbi.com under My accounts profiles/Account summary /ONLINE EMI or POS enabled EMI.
Customer can avail it for maximum of 5 instances either through Online EMI or through POS EMI facility or both put together.
Penal interest will not be charged for loans up to Rs 25,000. For loans above Rs 25,000, if the irregularity exceeds EMI, for a period of one month, then penal interest would be charged @2.00% p.m. on the overdue amount for the period of default.
Pre-payment of EMIs in full or in part and closure of account before the end of term will attract prepayment charges of 3.00% on prepaid amount.
POS EMI facility for SBI Debit Cards is available across select merchant partners who have Pine Labs POS machines installed at their shops/stores. Almost all major stores such as Croma, Vijay sales, Reliance digital, Purvika, Sangeeta etc. offer this facility across the country
Similarly, Online EMI facility is available through PayU & BillDesk Payment Aggregators on selective web portals / e commerce site of major brands.
Customer can cancel the Online EMI transaction and return the goods within the prescribed period as specified by Merchant / OEMs, subject to maximum of 30 days.
Cancelling of transaction and returning of goods is not permitted under POS EMI. However, replacement of defective goods is allowed if permitted by the concerned merchant.
List of Merchants / eCommerce sites is displayed at SBI website. Path is as under:
Bank.sbi website> Loans > Consumer Durable Loans > About Debit Card EMI
In case of any query, feedback or suggestion, please feel free to write to agmecom.pbbu@sbi.co.in.
Alternatively, for assistance, you may call at 1800 1234.
Last Updated On : Thursday, 01-06-2023

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above