Big news for SBI customers! Convert purchases into EMIs starting at Rs 52

State bank of India is offering its customers an option to convert their large purchases into simple monthly instalments at reduced interest rates.

There’s some really good news for you if you’re a Stata Bank of India (SBI) customer. The bank is offering its customers an option to convert their large purchases into simple monthly instalments at reduced interest rates. Customers can also avail a 100% fee processing waiver on converting their purchases into easy monthly instalments (EMIs). 

The State Bank of India is offering this service as Flexipay, and the offer is valid till May 9, 2021. In a Twitter post, SBI said, ”Flexipay is what you need to convert your large purchases into easy instalments, now at reduced interest rates and a 100% fee processing waiver. Valid till 9 May ‘21.” 

With Flexipay EMIs, SBI is tempting its customers to opt for a reduced monthly instalment option for their big purchases. SBI customers are given the option to convert their large purchases into Flexipay within 30 days of the transaction. 

Any transaction above Rs 500 can be converted to Flexipay. However, the minimum booking amount stays at Rs 2500. Also, keep in mind that SBI customers can repay in a period of 6, 9, 12, and 24 months.

Here’s a brief break up of how Flexipay will work: 

SBI customers need to pay only Rs 177.5 per Rs 1000 purchase as a monthly instalment for the six-month tenure option. Similarly, they need to pay Rs 93.5 for the 12-month option and only Rs 51.9 for the 24-month option per Rs 1000. 

For using the Flexipay service, an SBI customer needs to log in to their SBI Card online account or SMS FP to 56767 or call 39 02 02 or 1860 180 1290.