Your question: What is the interest rate of SBI credit card EMI?

Can we convert SBI credit card to EMI?

Flexipay is a facility offered to existing SBI credit cardholders to convert their big purchases into easy monthly instalments. Any SBI Card holder, with a transaction greater than ₹ 500 can convert the said transaction into Flexipay within 30 days.

What is the interest rate of SBI credit card Flexipay?

Flexipay bookings made under program period will attract an interest rate (corresponding to the tenure of the Flexipay EMI) of: 3, 6 and 9 months: 12% p.a. 12 months: 13% p.a. 24 and 36 months: 14.25% p.a.

Which SBI credit card is best for EMI?

10 Best SBI Credit Cards for 2021

SBI Credit Card Annual Fee Best Suited For
SBI SimplySAVE Credit Card Rs. 499 Retail Shopping
SBI SimplyCLICK Credit Card Rs. 499 Online Shopping
SBI Card PRIME Rs. 2,999 Reward Points
SBI Card ELITE Rs. 4,999 Travel & Shopping

How SBI credit interest is calculated?

If the effective interest rate is 3.5% per month, the interest rate will be calculated as follows: Interest charged on the transaction amount Rs. 500 will be calculated from the transaction date that is the 5 of March to 22 April which is for 49 days. The formula used will be (3.5X12) X (49/365) X500/100 = Rs.

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How is EMI interest calculated?

The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months. … The higher the loan amount or interest rate, the higher is the EMI payments and vice versa.

How do I cancel my SBI Credit Card EMI?

The SBI Cardholder can make request for pre-closure of EMI plan by calling the SBI Card helpline at 39 02 02 02 (Prefix STD code of your city while calling from mobile) or 1860 180 1290 (if calling from MTNL and BSNL lines).

Can we pay all EMI at once?

Whether you have taken a personal loan, home loan, car loan, or any other loan product from HDFC, the bank allows you to repay the remaining EMIs at one go. … Repaying all EMIs at once is known as pre-closing the loan account.

What is SBI credit card limit?

SBI card available credit limit: This is the amount available for usage at a particular point in time. For instance, if your maximum limit is Rs 2 Lakh, and you spend Rs 50,000, the available credit limit will be Rs 1.5 Lakhs. SBI card cash limit: The SBI card cash limit again varies from one customer to another.

Which credit card is best SBI or HDFC?

Compare the Fees of These Credit Cards

Basis of Difference SBI Prime Credit Card HDFC Regalia Credit Card
Annual Renewal Fees ₹2999 + Applicable Taxes ₹2500 + Applicable Taxes
Waiving Off Criteria Spend ₹3 Lacs in a Year to Waive off the Renewal fees. Spend ₹3 Lacs in a Year to Waive off the fees.
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