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Advantages of SBI Credit Card EMI Conversion:

Deferred Payment - One might find it difficult to pay their credit card bills in full. They might even want to make expensive purchases. In such instances, they can convert their purchases into EMI and pay them off gradually over the course of the credit period.

Reduced upfront Financial Strain - Since customers pay off the amount over an extended period of time, the financial burden is reduced to a large extent. This is really beneficial for salaried individuals or even others wanting to purchase an item without straining their monthly budgets.

No-cost EMI - This is the best option when one applies for EMI conversion. This option involves providing credit to customers without charging an interest rate or processing fees.

Disadvantages of SBI Credit Card EMI conversion:

Interest Accrual- The EMI conversion facility is however not free, as the cardholders are charged interest. The SBI Credit Card EMI interest can be around 1.5% (Monthly Reducing Balance) for post-purchase EMIs or 14% for Merchant EMIs.

Blocked Credit Limit - When customers utilize the credit limit the amount is blocked against the total available credit limit. The limit is released only when the amount is paid. The unlocked limit is equal to the EMI paid every month.

Increased Credit Utilization - Since a part of the credit limit is blocked, the available credit limit is reduced and thus, customers who continue to use their cards in a similar way will use most of their credit limit. This will lead to an increase in their Credit Utilization Ratio, which reduces their credit score.

Credit Utilization is the ratio between the total credit limit and utilization.

The following are the Points to Remember about SBI Credit Card EMI conversion:

Tenure - Banks generally offer a low-interest rate on EMIs with longer tenures. This makes them look attractive, especially when compared to short loan tenures with higher interest rates. However, this is not true as the cardholder ends up paying more interest with the longer tenure option.

Credit Card - All Credit Cards do not charge the same interest on EMI conversion. At times even cards from the same bank charge different rates of interest. Customers must thus compare interest rates before applying.

Lost Benefits - Another important consideration is that the customer might not earn reward points or discounts for merchant EMI conversion. If the benefits offered are significant then it is advisable for customers to save for the purchase.

Timely Payments - Customers are also required to ensure that they are capable of making timely payments every month to avoid credit card bill overruns. The reasons for the same are:

  • Lost Interest-free period - The interest-free period offered during the EMI payments period is lost if the customer misses a payment.
  • Credit Card Interest rate - SBI credit card interest rate will come into effect when the outstanding amount is not cleared. The interest rate is about 42% p.a. This may lead to an insurmountable interest burden for the customer.
  • Credit Score - Any default or missed payment lowers the credit score.

Ways to opt for SBI Credit Card EMI Conversion

There are two ways through which customers can apply for EMI Conversion

Merchant EMI Conversion

This option involves conversion at the Point of Sale. The customer has to request the merchant to convert the purchase into EMI at the time of the payment, in case of retail purchases.

Post-purchase EMI Conversion

In this scenario, customers can log in to their SBI net banking account after making a purchase. The various methods are:


  • Login into SBI Online Internet Banking
  • Click on ‘Benefits’ then select ‘ Lower Interest Rates and then ‘Flexipay’
  • Next, you will be required to select transactions to convert into EMI and the tenure and interest rates will be displayed on the screen.
  • Lastly, click Confirm to finish the process.

Mobile Application

  • Log in to the SBI Yono Application.
  • Tap on Credit Cards
  • Click on Convert to EMI
  • Select the transactions through Statement/ Unbilled Transactions.
  • Enter EMI details
  • Agree to the Terms and Conditions

Customer Care/ Phone Banking

Customers can contact the SBI customer care number at 39-02-02-02/ 1860-180-1290 to avail of the EMI conversion option on their purchases on being connected to the customer care executive.


  • The cardholders are required to send an SMS to 56767 to avail of the SBI Credit Card EMI facility benefits.
  • Send an SMS with ‘FP’ from your registered mobile number.
  • You will receive a call from the concerned department in the bank.
  • The executive will require certain transaction details to proceed with the transaction.
  • SBI Credit Card EMI calculator, processing charges, can be used to determine the exact amount of EMI to speed up the process.
  • On confirmation of the request, the bank will proceed with your application.

Are there any Foreclosure Charges for prepayment

If an EMI is closed after 30 days of the first EMI debit, foreclosure charges of 2-3% will be applied to the outstanding principal amount. However, if you cancel before the first EMI is debited, you will get a waiver on the processing fee and no foreclosure charges will be applied.

Important EMI Calculation Points

Rates of interest

  • The interest increases with an increase in tenure.
  • Interest is charged on all credit card purchases and is the interest on the borrowed amount for the convenience offered.

Processing fee

  • An amount payable to initiate a loan.
  • It is generally 0.5-1% of the total amount of purchase.

Considerations while Applying SBI’s EMI Conversion on Credit Card

  • The Conversion option is not available for purchases involving gold, and jewelry and also for cash withdrawals, balance transfers and card fees.
  • Once the convert to EMI option is available, any reward points on the card will be reversed.
  • The card holders cannot close their cards during the EMI tenure.
  • Any requests by add-on cardholders will be billed to the primary card holder.
  • Corporate credit cards are ineligible for EMI conversion
  • Foreclosure and cancellation charges are applicable if the user wants to foreclose or cancel the EMI facility before the end of the tenure.

Factors to keep in mind for an optimal choice for EMI Conversion

Conversion of outstanding credit card bill

This option allows credit card users to convert their entire credit card bills or a part of it into EMIs.

They can repay the unpayable portion of credit card bills in smaller tranches through EMIs

Conversion of select transactions

This option facilitates users to convert beyond a specified predefined threshold amount set by the card issuer into EMI. Exercising this option can be beneficial to users who wish to convert only specified card transactions into EMIs.

Credit Card balance transfer on EMI

Credit Card issuers generally offer the facility of EMI conversion on credit card balance transfers. This allows the user to transfer the outstanding credit balance of a credit card to another credit card issued by a different card issuer and then convert the transferred balance to EMIs.

FAQs of SBI Credit Card EMI:

1. Can we convert credit card bills to EMI?

Flexipay is a facility that is provided to SBI credit card holders to convert big purchases into EMIs. The cardholders can apply for this option at the time of purchase transaction.

2. How does EMI work on SBI credit cards?

The EMI option can be chosen by the cardholder at the time of any purchase and thus the credit card bills will get converted to EMI. For every conversion of bills to EMI, interest is charged by the bank. The interest on the EMIs is generally higher than the normal interest rates.

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