Flipkart Debit Card EMIs: a New Mode of Payment

There are a number of ways you can pay for your purchases on Flipkart, you can either pay online through your Debit Card/Credit Card, e-wallet, net banking, etc. you can also pay for your goods by cash. There is now a new mode of payment available on Flipkart, it’s the Debit Card EMI.

A Debit Card EMI allows you to purchase the things you need right away and pay for them over a stipulated period of time. This is really good for large purchases made on Flipkart. The fact that your payment is distributed over a long period of time reduces the strain on your savings.

How do Flipkart Debit Card EMIs work?

Flipkart has partnered with Axis Bank, ICICI Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India (SBI) to bring its customers the Debit Card EMI facility. When you make a purchase using the Debit Card EMI facility, the bank pays the entire amount up-front to the vendor, in this case, Flipkart. Once Flipkart receives the payment it will prepare and dispatch your order. An overdraft against your bank account is opened for the amount due and you can repay this overdraft in EMIs over a period of time.

Who is eligible?

Debit Card EMIs on Flipkart are only available with partner banks and not all Debit Cards with the partner banks are eligible to avail this facility. It is left to the bank’s discretion to determine which Debit Cards are eligible for Flipkart’s Debit Card EMI facility. The bank determines an account holder’s eligibility by taking into consideration the bank’s relationship with the account holder, the account holder’s transaction history, the duration for which the account has been active, etc.

How do I check my eligibility?

If your Debit Card is eligible for the Debit Card EMI facility on Flipkart your bank will intimate you about this feature. You can also check your eligibility at the time of checkout as the Flipkart Debit Card EMI payment mode will appear as one of the modes of payment. You can also check your eligibility by calling or sending an SMS to your bank. The SMS to be sent to the partner banks have been listed below.

• HDFC Bank: SMS DCEMI<Space><Last 4 digits of your Debit Card number> to 56767
• ICICI Bank: SMS DCEMI<Space><Last 4 digits of your Debit Card number> to 5676766
• Kotak Mahindra Bank: SMS CDL<Space><PAN(In caps)> to 5676788
• Axis Bank: SMS DCEMI <Space> <Last 4 digits of your Debit Card number> to 5676782

Do I need to make a downpayment?

No, you can convert 100% of your purchase to EMIs with Flipkart’s Debit Card EMI option.

Points to remember while using the Debit Card EMI option on Flipkart

• You do not need a Fixed Deposit (FD) or Recurring Deposit (RD) to avail this facility.

• Flipkart does not charge a processing fee while using the Debit Card EMI facility.

• Other e-commerce sites may have a processing fee for Debit Card EMI. Please check this before using the facility.

• Foreclosure of Debit Card EMIs is allowed. Please check the foreclosure charges with your bank.

• Flipkart’s Debit Card EMI facility is available for select products and select cards, not all partner banks’ Debit Cards will be eligible for this payment option.

• The minimum purchase amount to avail this facility varies from bank to bank. Please check the minimum purchase amount first.

The next time you log in to your Flipkart account to buy some stuff, check out the Debit Card EMI options they can make payments much easier and make your overall shopping experience more enjoyable.