In today’s time, the use of credit cards has become common for big expenses like mobile, electronics, travel booking and online shopping. But when a huge bill of credit card comes out at the end of the month, many people have trouble paying it outright. In such a situation, SBI Flexipay feature proves to be a great option, which allows customers to repay their expenses in easy monthly installments (EMI).
What is SBI Flexipay?
SBI Flexipay is a feature that allows SBI credit card holders to convert any large expenses into EMI. This feature is specially created for customers who make big transactions with their credit cards, but want to make payments gradually in installments.
This facility is available at transactions of ₹ 500 or more.
EMI can range from 3 months to 24 months.
If the expenditure is ₹ 30,000 or more, customers can also choose a long period of up to 36 months.
The minimum booking amount of Flexipay is ₹ 2,500, but it can also be different in special offers.
Customers are advised to go to the official website of SBI card and check the complete and updated information.
Benefits of SBI Flexipay
Easy Payment Options: It is easy to pay gradually through EMI instead of lump sum payment.
Low interest rate: This feature is available at a lower interest rate compared to personal loan or other credit options.
Online facility: Flexipay can be booked at home through mobile app or website.
Facility to choose installment period: You can choose a duration of 3 to 36 months at your convenience.
Ways to pay bills in EMI
1. through internet banking
Log in to your SBI card online account.
Go to the “EMI & More” section in the menu.
Click on the “Flexipay” option.
Choose the transaction that has to be converted into EMI.
Choose and submit the duration of your choice.
2. Through Customer Service
Call the customer service helpline of SBI card.
Request to convert your expenses into EMI under Flexipay.
Representative will tell you the full process and if required, you will also tell the estimate of installments with the help of EMI calculator.
3. Through mobile app
Open SBI Card Mobile App.
Click on the Flexipay option.
Select transactions and duration.
Change the amount and term as required.
Follow all the steps and submit the request.
What to keep in mind?
Request to convert to EMI is to be done within 30 days of transaction.
Flexipay booking applies processing fees and interest rates, which may vary according to cards and offers.
Late fees and penalty may be charged if there is a delay in repaying EMI.
Before converting transactions into EMI, please estimate monthly installments from EMI calculator.
