Debit Card EMI From Flipkart — A Detailed Guide

Imagine you have added a product in your shopping cart and as you are about to make the payment, you notice that you don’t have sufficient balance in your bank account. You then decide to purchase the product later and quite possibly, the product is not available after some time. Well, with the debit EMI facility, you can buy your favourite product online conveniently.

What is debit card EMI?

A debit card EMI is a credit facility provided to selected customers to make the payments in installments using their debit cards when they don’t have sufficient balance in their balance accounts.

Features of Debit EMI: 

  • Debit card EMI is provided to selected customers, and you don’t need to submit any additional documents to make the payments in instalments.
  •  Zero-cost EMI is available on specific products, and you can check the list of products and offers to avail the zero-cost EMI.
  • Debit card EMI facility is available on multiple merchandising websites such as Amazon, Flipkart and Paytm.
  • Debit card EMI provides the credit facility ranging between 3 months to 12 months; however, you can close the EMI facility on your debit cards before the determining tenure. To close the facility, you will have to pay the penalty charges, which may vary from bank to bank.
  • As banks automatically deduct the amount for EMI, you must have balance in your account.

Debit card EMI from Flipkart:

Banks provide pre-approved credit facility to the selected customers based on the previous payment record. Presently, Flipkart has provided debit card EMI facility in partnership with four banks, which are Axis bank, State bank of India, HDFC Bank and ICICI bank. Similarly, to choose the eligible customers for this facility, banks also determine the interest rate based on the customer’s credibility and payment record. Banks also provide zero cost debit card EMI to its credible customers.

The customers can use this facility if they have made the minimum purchase using their debit card. The minimum limit for the card varies from bank to bank ranging from ₹5,000 (ICICI Bank) to ₹8,000 (Axis Bank and SBI) and ₹10,000 (HDFC Bank).

How to check debit card EMI from Flipkart:

To check the eligibility for debit card EMI facility, you can send an SMS DCEMI to 57575.

Also,  you can find the EMI eligibility for the debit card at the home screen of your account in Flipkart mobile application or website.

Availing the EMI option for making purchases:

At the payment gateway, you will find the option of ‘NO COST EMI’ or ‘Pay using debit card EMI’, if you are already pre-approved for the EMI. Choose the EMI option, and the bank account for availing the EMI. In the next option, you will be asked to select the EMI amount and tenure. You can pay the EMI in 3- 12 months, depending on your repaying capability. After choosing the EMI instalment, enter your debit card CVV number and similarly complete the transaction.

Online shopping has transformed the way we do transactions. Banks and merchandising websites are continuously innovating ways to provide a seamless experience to the customers. While people remain wary of shopping with credit cards, the debit card EMI will undoubtedly expand the customer base of people who use the debit card to make their payments.

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