SBI launches Debit card EMI on POS

By on October 24, 2019
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SBI launches Debit card EMI on POS

With an aim to provide ultimate and affordable shopping experience to its customers this festive season, country’s largest lender State Bank of India today launched ‘Debit Card EMI facility’ for its existing customers.

Under this service, consumers can opt for an EMI tenure of minimum 6 months to 18 months. They can buy the products at 40000+ merchants and stores in 1500+ cities having Pine Labs branded POS machines totaling more than 4.5 lakhs.

Speaking on the occasion, Rajnish Kumar, Chairman, SBI said, “We are glad to launch this product for our customers so that they can have a pleasant shopping experience this festive season. Debit Card EMI will enable customers to buy consumer durable products on EMI at various merchant stores pan India using their debit cards without having to pay entire amount immediately. With SBI’s continued commitment towards customers’ convenience and satisfaction, we believe the introduction of this new product is a step forward by the bank to offer delight of hassle free purchases and paperless loans.”

Some of the key benefits that consumer can enjoy while using this facility are zero documentation, no processing fee, no branch visit, instant disbursal and zero cost EMI on select brands. This facility can be availed in less than a minute irrespective of the existing saving bank account balance. The EMIs would begin one month after the transaction is complete.

All customers having clean financial and credit history are eligible for availing the loans. Such customers are being sent regular communications by the bank via SMS and Emailers. To check the eligibility, customers can also send an SMS typing DCEMI to 567676 from their registered mobile number.

                                      

About State Bank of India

State Bank of India (SBI) the largest commercial bank in terms of assets, deposits, branches, customers and employees; is also the largest mortgage lender in the country. As on June 30, 2019, the bank has a deposit base of over Rs. 28 lakh crore with CASA ratio of 45.1% and advances of over Rs. 19 lakh crore. SBI commands around 33% and 36% of market share in personal loans and auto loans respectively. The Bank has the largest network of 22,088 branches in India and an ATM / CDM network of over 58,495. The number of customers using internet banking facility are more than 66 million and mobile banking services stand at 14.8 million. Downloads for YONO - an integrated digital and lifestyle platform by SBI - are over 23 million, with more than 16 million logins per day. On social media platforms, SBI has the highest number of followers on Facebook, YouTube, LinkedIn and Pinterest. The Bank tops the list of followers on Facebook and YouTube across all banks worldwide.

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