The online market is growing day by day and customers are showing their interest to buy a product from Online shopping websites. A few months ago Flipkart has just launched a new generation of payment method for those buyers who want to buy a product on Debit card EMI. With this service, a bank credit card is not required to buy a product on EMI (Equated Monthly Installments). According to RBI, there are lots of debit card holders instead of the credit card.
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So Flipkart has specially designed EMI on the debit card to enable such customers to shop without worrying about the limited monthly budget. The new Debit EMI payment option makes shopping easy and affordable for Flipkart customer. At present Flipkart partner with SBI, Axis, HDFC, ICICI bank to allow debit card EMI to customers.
1. ICICI Bank Debit card on EMI Features & conditions for shopping websites and offline stores.
This facility allows ICICI Bank Debit Card customers to convert their high-value transactions into easy instalments facility is available on Amazon and Flipkart. But the service is only for selected group customers who are pre-approved by the bank partners. Eligibility is not determined by Flipkart, but by the bank partner based on the customer’s past transaction history and relationship with the bank.
Just send an SMS from your registered mobile number in ICICI bank “DCEMI” to 57575 check your status.
- No documentation
- No need for a security deposit or down payment
- One click transaction and conversion to EMI
- Easy re-payments from linked Savings/ Current Account.
How ICICI Bank EMI Service works:
- Visit merchant website, mobile site or mobile app
- Choose your favourite product and add it in your cart (Smartphones, Tablets, Televisions, Refrigerators, Air – Conditioners, Microwave etc).
- Proceed to Checkout and select ‘Easy Instalments’ and choose ‘ICICI Bank Debit Card EMI’
- Choose between tenures 3 months, 6 months, 9 months and 12 months
- Authorise the transaction using your Debit Card details like Debit Card number, expiry date and CVV
- Authenticate yourself using an OTP or 3D Secure PIN to complete the purchase.
ICICI Bank Debit card on EMI Features & conditions for offline stores
On the other hand, ICICI bank also tied up with 2000 offline stores in India to satisfy the need of bank customers. But the service is only for few participating stores across in India. If you want to know your nearest store offering you the EMI facility then follow the steps or you can check out ICICI bank EMI store list on the PDF.
Just send an SMS from your registered mobile number in ICICI bank “EMI <PIN CODE> to 56886 check your status.
Simply choose your desired product from Amazon and Flipkart or from partnered offline stores and choose ‘Easy Instalments’ for pay.
ICICI Bank Debit card on EMI Terms & conditions for offline stores
- This facility is only for ICICI bank current and saving account customers
- The ICICI bank EMI facility is applicable to all transactions above Rs.10,000 at participating stores.
- ICICI bank charges you 13% interest rate 3, 6, 9 and 12-month tenures, it will 15% for 18 and 24-month tenures.
- ICICI bank Tie up with Apple in 2000 stores pan India (Smartphones only)
- ICICI Bank ties up with the following partners Haier, Hero Motors, Kurlon, Lenovo, Nikon, Sharp, Sleepwell, Suzuki Motors, TVS motors, Vespa Motors and VLCC.
How to Avail ICICI bank EMI on Debit Card (without Credit Card)
- when the customer does a transaction at specified stores and selects the tenure of EMI.
- When Customer made a payment by ICICI Bank Debit Card and inputs the ATM PIN at a specified terminals in the store.
- Transaction is valid and conversion to EMI facility happens after successful validation of parameters.
- EMI conversion and reversal of amount in the account happens within 2 business working days after the transaction date.
- First installment of EMI will be deducted only after 30 days from the reversal of the money in the account.
- In Account statement the transaction will display.
2. Axis Bank Debit card on EMI Features & conditions.
Axis bank started EMI on Axis bank debit cards. With the help of this service, Axis bank can customers can shop any product online on easy monthly instalments. But only eligible customers can take advantage of Axis bank EMI on Debit card service. Just send an SMS from your registered mobile number in Axis bank EMI XXXX ((last 4 digits of your debit card number) on 5676782 to check your eligibility status. A message will be received on your registered mobile number with eligibility status.
- If you have any other queries about this service or any information is needed. Call on the toll-free number 1800 103 5577 /1800 209 5577.
Axis Bank Debit card on EMI Terms & conditions
- Axis bank account holder can exchange high value of money into the easy monthly installment.
- Offer for chosen target consumers in compliance with the bank policy
- You can choose tenure to pay your entire bill amount between 3 to 12 months.
- The rate of interest is 14% per annum.
- Minimum advance balance using the service with your Axis bank Debit card is 10000 and avail upto INR 1 lakh.
- You cannot convert the transacted amount albeit partly.
- You have to pay processing fee INR 150 or one percent, which is charged one time.
|SL No.||Tenure Choices||EMIs per INR 1000|
|1||3 months||INR 337|
|2||6 months||INR 172|
|3||9 months||INR 116|
|4||12 months||INR 89|
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Here are the accepted Address proofs to buy any smartphone or Tablet with EMI without Credit Card.
|Address Proofs||Id Proofs|
|Government Address Proof||Government ID Proof|
|Voter ID (1st & last page)||Passport|
|Driving License||Driving License|
|Photo Attested Bank Passbook||Aadhar Card|
|Electricity Bill||Pan Card|
|Leave & License Agreement||Voter ID|
|Gas Bill/Mobile Bill/Telephone Bill|
|Company Allotment Letter|
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