State Bank of India is one of the most popular and leading public sector banks in the country that offers copious beneficial services and financial products to customers. Credit Cards help users in several ways. There are a plethora of perks that come along with a credit card to the cardholders. At the same time, there are significant risks that may affect the customers when the credit card is misused. Most often, a credit card helps the user to rescue in critical situations like an emergency, urgent payments, and more. In most situations, people don’t care about their budget and make purchases considering their credit limit. They will realize their mistake only at the time of making a payment every month.
As technology has been improving day by day all over the world, the trend of shopping online has become an addiction to most people. Still, people feel it cumbersome to pay huge credit card bills that are piled up at the end of the month. It’s even harder for an individual to pay the entire bill at once. To evade this problem, SBI enables a great provision to its credit cardholders. The great news is that the customers can convert their SBI Credit Card bills into easy EMIs online. Here is everything you need to know about SBI Card Flexipay, its benefits, the procedure to convert credit card transactions into EMIs in SBI, and more. Check it out!
Table of Contents
What is SBI Card Flexipay?
One of the appreciable services of SBI to its credit cardholders is the facility to convert credit card bills into EMI. FlexiPay is an amazing service provided by SBICards to its customers. SBI has rolled out this facility with a unique tagline ‘Payback your big purchases in flexible installments.’ The prime lender helps credit card customers by providing three simple options to apply for the FlexiPay service. Through this facility, the credit cardholders can convert their monthly credit card bills into EMI. However, there are certain rules and guidelines for an individual to become eligible to avail of this facility. The credit cardholders who make a minimum of Rs. 2500 transactions are only eligible for this FlexiPay EMI Conversion facility. The customers seeking to utilize this provision must raise a request within 30 days from the date of purchase. Customers can easily convert their purchases to simple installments through the SBI Card Flexipay facility. By making a transaction greater than Rs. 500, the customers can convert that particular transaction into Flexipay within 30 days. In case, you aren’t able to pay for the EMIs for 3 consecutive months then, the Flexipay option will be cancelled. The key point is that the blocked or delinquent credit cardholders aren’t eligible to avail themselves of this service. Want to know how to convert credit card transaction to EMI in SBI? Let’s go through this guide to learn the ways to utilize Flexipay.
How To Convert SBI Credit Card Transactions Into EMI?
There are three different ways to convert your transactions into Flexipay without any difficulty. Customers can book Flexi pay SBI credit card through the official website, mobile app, and the chatbot ILA. In this article, we explained all the ways to understand how to convert SBI credit card transaction into EMI.
1. Book Flexipay on SBI Card Website
Follow the easy steps given below to understand the procedure to book Flexipay on the SBI Card website.
- At first, go to the official website of SBICards from your device i.e., at sbicard.com.
- On the home page of the website, you will find the login section.
- Enter your user ID and password in the provided fields.
- Hit the Login button. You will be redirected to your net banking account.
- Once you logged into your account, you will find the dashboard on the left-hand side of the page.
- Click on the tab ‘Benefits’. From the drop-down menu, you need to select the ‘Flexipay’ option. All the transactions that you have made recently will be visible on the screen. Choose the transaction that you are willing to convert into EMI.
- On the next page, you can select the eligible transaction that can be converted into EMI.
- You can then check the available offers in the ‘Flexipay Offer’ option.
- You can then convert your transactions into Flexipay purchases after selecting a transaction.
- On the same page, you need to select the repayment period [tenure], the rate of interest, and other details.
- After choosing the tenure, you will be able to view the accurate EMI amount that must be paid every month.
- You must accept all the terms and conditions.
- After choosing all the relevant options, you need to tap the button ‘Confirm’.
- Once you confirm your order, you will be able to convert your transactions into EMI.
Once the whole process is finished, you will get a confirmation from the bank in the form of a message to your registered mobile number and registered email address. This way you can easily book SBI credit card Flexi pay through the SBI Cards website.
2. Book Flexipay on SBI Card Mobile App
Another simple way to book SBI Flexipay is through the mobile app. Follow the easy steps given below to book Flexipay using the SBI Card mobile app.
- Open the SBI Card app on your mobile phone.
- On the home screen of the app, you will find the 3-dotted line on the top left corner.
- A list of options will be displayed on the screen.
- Select the ‘Benefits’ tab. On the next screen, you can find three different options.
- Flexipay is one of the options on the list. Just click it.
- On the next screen, you can find all your recent transactions.
- Select your preferred transactions that you wish to convert into EMI by ticking the checkbox.
- Click the ‘View Offer’ option.
- You need to choose the tenure, processing fee, and interest rate on the next screen.
- Below that, you can find your selected option.
- If you are willing to proceed, just click the button ‘Apply Offer’.
- On the next screen, you can find your selected offer comprising the EMI amount, total amount, interest rate, tenure, and processing fee.
- Agree to all the terms and conditions by ticking the checkbox.
- Hit the submit button.
- Further, you can find a screen displaying a ‘Congratulations’ message. It says ‘You have successfully booked Flexipay for an amount of XXXX.
- If you want to check the schedule, just tap the button ‘View Schedule’.
- By tapping that button, you can view all your SBI credit card Flexipay details comprising the booking amount, booking date, EMI, total interest charged, the total number of installments, and the rate of interest.
This is the simple procedure on how to convert credit card transaction to EMI in SBI Card using the mobile app.
3. Book Flexipay using Chat Bot ILA
Using the Interactive Live Assistant, you can easily convert your transactions into SBI Flexipay. Follow the simple steps given below:
- First of all, go to the official SBICards website.
- On the home page of the website, you can find the ILA option at the bottom.
- Just click on that option. A chatbox will be opened.
- Type ‘Book Flexipay’ in the chatbox.
- You are then prompted to log into the account. Click the option ‘Login Here’.
- Enter your login details such as the User ID and password.
- Hit the Login button.
- Click on the option ‘Select Transactions’ that you wish to convert into EMI.
- After selecting the transactions you can view the available offers by tapping the button ‘Confirm and View Offers’.
- You can then view your selected offer, EMI, interest rate, amount, and other details. Hit the option ‘Confirm and Book this offer’.
- Lastly, you will get a message stating that you have successfully converted your transactions into EMIs.
SBI Card Flexipay Fees and Charges
Check the complete SBI credit card Flexipay details regarding the fees and other charges. Check the flexible options available to the customers to pay back the huge transactions in easy EMIs.
|Tenure [Repayment Period]||Monthly Installment Per Rs. 1000|
Apart from the monthly installment details, the customers will be levied some other charges that include the following:
- Cardholders will be charged a one-time processing fee of 2% up to a minimum of Rs. 249 and a maximum of Rs. 1500.
- An interest of 20% per annum will also be levied as per the applicable offer.
- In case, you wish to foreclose or cancel your Flexipay Plan, a 3% cancellation fee will be levied on the outstanding principal amount. If you cancel your Flexipay request within 45 days of booking, no charges will be imposed on the cardholder.
SBI Card Flexipay FAQs
We furnished some of the frequently asked questions along with the answers in this post. Just check it out!
- What is the minimum amount to book flexipay on SBI Card?
The minimum amount to book Flexipay on SBI Card is Rs. 2500. However, this amount may vary in the case of particular offers.
- How to cancel flexipay in SBI credit card?
The cardholders can place a request for cancellation of the Flexipay request by calling the SBI card helpline service. If you place a cancellation request within 45 days of booking, no charges will be levied on the credit cardholder's account. A cancellation fee of 3% of the outstanding principal will be levied on the account in case of placing the cancellation request after 45 days of booking.
- Are there any processing for booking Flexipay on SBI Card?
Yes, the customers need to pay a processing fee of 2% of the amount converted into Flexipay EMI. However, this fee is subject to a minimum of Rs. 249 and a maximum of Rs. 1500 along with applicable taxes.
- Can add-on cardholders book Flexi pay?
No, add-on credit card holders cannot book SBI credit card Flexipay.
That’s all! This is everything you need to know about the SBI credit card Flexipay details. We hope this guide on how to convert credit card transaction to EMI in SBI has given adequate information. If you still have any queries regarding the SBI Credit Card Flexipay, just drop your comments in the comments section. Stay tuned to MoneyCompass for more related posts and knowledge-based articles.