HDFC Bank EMI on Debit Card
HDFC Bank offers the facility to convert debit card transactions into Equated Monthly Instalments (EMIs). With the help of this facility, high-value transactions can be made and paid back every month.
The facility can be availed for transactions made both offline and online. Home appliances, furniture, electronics, apparel, etc. can be purchased and converted to EMIs.
However, HDFC Bank will set the minimum and maximum limits to avail the facility.
Features and Benefits of HDFC Debit Card EMI
The main features and benefits of the debit card EMI facility offered by HDFC Bank are mentioned below:
- No down payment will need to be made.
- No documents need to be submitted to avail the facility.
- Approvals are instant and the amount is disbursed immediately.
- The repayment tenure ranges between 3 months and 36 months.
- A processing fee of Rs.99 plus GST will be levied.
- No money will be blocked in the account.
- EMIs can be availed at no additional costs.
Fees and Charges of HDFC EMI Debit Card
The fees and charges that will be levied on the debit card EMI facility offered by HDFC Bank are mentioned in the table below:
Category | Charges |
Rate of Interest | 16% p.a. |
Pre-Closure Charges | 3% of the principal amount that is outstanding plus GST |
Late Payment Charges | Rs.300 plus GST |
Auto Debit Return | 2% plus GST, minimum of Rs.450 |
Processing Fee | Rs.99 plus GST |
Eligibility Criteria
You can check if you are eligible for the HDFC Bank debit card EMI facility via SMS, WhatsApp, EVA Chatbot, or by giving a missed call. The registered mobile number must be active in order to check the eligibility criteria.
The different brands that provide the No Extra Cost facility are mentioned below:
- VLCC
- Truweight
- STAR DENTAL
- KOLORS
- Dr Batra
- Cloud Nine
- Vibes
- Berkowits
- B Perfect
- ARC Fertility
Loan Amount
The minimum and maximum amounts for which the EMI facility can be availed are mentioned below:
Maximum Amount | Rs.5 lakh |
Minimum Amount | Rs.5,000 |
Process to Check Debit Card EMI Eligibility
- SMS: ‘MYHDFC’ as an SMS to 5676712 from the registered mobile number.
- Missed Call: 9643222222.
- WhatsApp: ‘DCEMI’ must be sent as a WhatsApp message to 7070022222.
- Vis EVA Chatbot on the Bank’s Official Website. You will need to type ‘DCEMI’ in the chatbot and select ‘Check eligibility for EMI on debit card’. An OTP will be sent to the registered mobile number. Once the OTP is entered, the eligibility status will be shown.
Terms and Conditions
Some of the terms and conditions under the debit card EMI facility are mentioned below:
- The processing fee will not be returned in the case of preclosure or full refund.
- The terms and conditions can be changed or replaced at any given time. Prior notice need not be provided.
- Taxes will be applicable and are subject to change.
- Under the EasyEMI Scheme, suitability, merchantability, quality, delivery, OR availability will depend on the merchant and not the bank.
- The Merchant can opt for the EasyEMI Scheme. The scheme can be withdrawn by the merchant at any given time.
FAQs on HDFC Bank Debit Card EMI
- Is the rate of interest under the debit card EMI facility offered by HDFC Bank fixed?
Yes, the rate of interest under the debit card EMI facility offered by HDFC Bank is fixed.
- Do I need to submit any documents to avail HDFC Bank’s debit card EMI facility?
No documents will need to be submitted to avail the bank’s debit card EMI facility.
- Will the processing fee be returned in case I preclose the loan?
No, the processing fee will not be returned in case the loan is preclosed.
- How long will it take for the loan to get approved?
In case you are eligible for the debit card EMI facility, the loan will be approved instantly.
- What are the minimum and maximum repayment tenure of the scheme?
The minimum and maximum repayment tenures of the scheme are 3 months and 36 months.
- How to get the HDFC Debit Card EMI facility?
You will need to check if you are eligible for the EMI facility via SMS, giving a missed call, WhatsApp, or EVA Chatbot. In case you are eligible for the EMI facility, the limit will also be provided.
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