Debit Card EMI Facility

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Debit Card EMI Facility

Debit Card EMI Facility

Explore the features of Debit Card EMI facility offered by Federal Bank

  • Features & Benefits
  • Eligibility
  • Store Locations
  • How it works
  • Brands - No Cost EMI
  • Fees & Charges
  • Terms and Conditions
  • Frequently Asked Questions
  • Our Partners
  • Flexible Repayment Tenure- Choose tenure as per your convenience, from 3 months to 12 months
  • No Cost EMI*- Avail of EMIs at No Extra Cost with leading manufacturers on DC EMI through POS terminals 

  • No Documentation
  • No Down Payment
  • No Pre-closure charges
  • No blocking of amount in account

 

Debit Card EMI Offers

Click here to explore the latest offers on Debit Card EMI.

 

Debit Card EMI for purchase of Two Wheelers

Federal Bank offers you a completely paperless debit card linked EMI facility for purchase of two-wheelers. The debit cardholders of the bank can book a two-wheeler for as low as Rs. 1 and pay the remaining amount via debit card EMI. The offer will be applicable at select showrooms of Hero MotoCorp, Honda Motorcycle and TVS Motor across the country. 

To know more, please click here.

 

SMS DC<space>EMI to 5676762 or give a missed call to 7812900900 to check your eligibility instantly

Minimum Loan Amount

Rs. 5,000

Maximum Loan Amount

Rs. 1,50,000

 

You can view the list of stores by clicking the link below.

Locate Stores 

Search Stores 

On E-commerce Platforms

  1. SMS DC<space>EMI to 5676762 or give a missed call to 7812900900 to check your eligibility instantly

  2. On websites where the offer is available , you can move to the payment page.

  3. You will be given an option to select EMI on Debit Card payment option at the checkout page.

  4. Once you select the EMI on Debit Card option, you can select the tenure and agree on the T&Cs proposed by the Bank.

  5. On clicking the T&C link, your consent is captured by the merchant on the EMI acceptance.

  6. Customer is then redirected to a payment page for your authentication. Post successful authentication, the transaction is completed.

  7. Your order will be placed and your loan account will be opened in the next 2 days.

  8. You will receive an intimation from the bank with the details of the loan.

On Merchant Outlets through POS terminals/offline channel

  1. SMS DC<space>EMI to 5676762 or give a missed call to 7812900900 to check your eligibility instantly

  2. At the time of payment through POS terminal, merchant will be able to select EMI option instead of making full payment.

  3. If the card is eligible for EMI option, Re.1 will be debited from your account and charge slip will be printed with the loan details. 

  4. Sign the long-charge slip, giving the T&Cs and the transaction is completed. You can walk out of the store with your product.

  5. Your loan account will be opened in the next 2 days and you will receive an email

 

Brands Available under No Extra Cost EMI (subject to availability) through offline channels *

 

 

  • Rate of Interest: ROI to vary between 14-15% based on tenure

Click here for Terms & Conditions

1.    How do I check my eligibility for Debit Card EMI?

SMS DC<space>EMI to 5676762 or give a missed call to 7812900900 to check your eligibility instantly

2.    What all tenures are available for Debit Card EMI?

The available tenures are 3,6,9 and 12 months.

3.    What is the amount limits for purchasing on Debit Card EMI?

You can avail limits between Rs.5,000-Rs.1,50,000 based on your eligibility.

4.    How long will I be eligible for this pre-approved offer?

The term of the eligibility period will be as seen in the eligibility SMS.

5.    Can NRI avail this facility?

No. This facility is only provided to resident individual customers only.

6.    Where I can avail this offer?

This offer can be availed on Amazon and in select retail stores which can be located using the below link: https://emistores.pinelabs.com/#/stores?q=U2FsdGVkX19eQdOd0DEpzdophj1ziK21+01r77vvfBo+9J9ilvIEWx1fY4Wo55bC 

7.    What are the features for Debit Card EMI?
a)    Flexible Repayment Tenure- Choose tenure as per your convenience, from 3 months to 12 months
b)    No Cost EMI*- Avail of EMIs at No Extra Cost with leading manufacturers on DC EMI through POS terminals 
c)    No Documentation
d)    No Down Payment
e)    No Pre-closure charges
f)    No blocking of amount in account; loan amount will not be blocked in any of your accounts on availing this facility

8.    I am eligible but not able to see the option on Amazon?

Check the following points:
a.    Your mobile number on Amazon and the registered mobile number with the bank must be one and the same. If there is a difference and you update the same at the time of purchase, the EMI offer will only be displayed in the next month as the eligibility 
b.    Your Federal Bank debit card is saved on Amazon. Even if you save it at the time of txn, the eligibility will not be displayed. The display option is shown to eligible customers with saved Federal Bank debit cards. The eligibility is determined on a monthly basis; if you save it now, you will be able to use the option next time.
c.    The Amazon Pay Balance must not be selected if the EMI option is selected.

9.    What if I buy a product and want to cancel the same on Amazon?

The cancellation request will be forwarded by Amazon to the bank. It will take 2-3 days for processing the same.
The interest for the period between loan booking and the loan cancellation will be borne by the customer. The remaining funds will be credited to the customer.

10.    What if I have purchased multiple products and want to cancel only one item on Amazon?

The cancellation request will be forwarded by Amazon to the bank. It will take 2-3 days for processing the same.
The interest for the period between loan booking and the loan cancellation will be borne by the customer. The amount of the item will be reduced from the loan amount and the DC EMI loan will be rescheduled.

11.    What is the rate of interest for the Debit Card EMI loan?

The rate of interest will be 14.5- 16% across all tenures. You can purchase for amounts ranging between Rs.5,000 and Rs.1,50,000/-

12.    Will my bank debit my account when I avail Debit EMI option?

No, your bank account will not be debited. Bank will open a pre-approved loan account for you and you need to pay monthly installments to your bank as per the EMI option selected by you.

13.    I have ₹5000 in my bank account and want to buy product worth 20K. Can I use ₹5000 from my bank account and avail remaining 15K through Debit EMI?

You will need to make the complete payment of 20K using Debit EMI option. Bank will deduct monthly EMI amount from your bank account basis the EMI option chosen by you.

14.    How will I pay back my EMI?

Bank will auto-enable standing instruction on your SB A/C, based on which your eligibility is determined, to enable debit of monthly payments for EMI. Please make sure you keep sufficient balance in your SB A/C to cover for EMI amount. In case you wish to re-pay the amount early, you can remit the outstanding amount of the loan into your loan account and the account will be closed automatically the next day.
        

Innoviti Payment Solutions Pvt. Ltd. has been a pioneer in the use of technology to add intelligence to payment transactions helping merchants, banks and brands utilize the full power of digital payments to drive business growth. The company processes over US$ 6.5Billion of merchant payments from over 1,000+ cities with a volume throughput per installation that is 2X of the country’s average. Catamaran Ventures, SBI Capital, Bessemer Ventures and FMO are investors in the company. The company has several patents filed for with two awarded.  Innoviti is the winner of Mastercard’s Innovation Wizards Award for its instant onboarding innovation, and Reliance’s Most Promising Growth Consumer Finance Award for its #KuchBhiOnEMI innovation in 2019.   Innoviti is the only Indian payments SaaS company to be awarded the SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.

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