FAQs about Debit Card EMIs

1. How do banks perform the EMI eligibility check during the transaction flow?

Eligibility is checked using the card number and registered phone number. Therefore, customers should always use the phone number registered with the bank while making a payment.

2. What is the minimum balance required in the customer's account to avail Debit Card EMI?

None. Customers need not have any minimum balance in their accounts while placing the order. However, they need to ensure that their accounts have sufficient funds to pay the EMI due every month.

3. How will the customers know that they are eligible for Debit Card EMI?

Customers can check their eligibility by sending the SMS
DCEMI<space><last 4 digits of Debit Card number> to <56767>, from their registered mobile number.

4. What is the criteria to avail Debit Card EMI?

To avail Debit Card EMI, your customers should pass the eligibility criteria set by their banks. The minimum order amount on the Checkout should be ₹5000 (for HDFC Debit Cards)

5. Can you provide a list of the EMI plans and interest rates of different banks that support Debit card EMI

The interest rates applied by each bank for Debit Card EMIs are provided for your reference. The minimum transaction amount for which EMIs can be availed on debit cards can vary for each bank. The maximum transaction amount depends upon the available pre-approved limit for the customer. Right now, customers can avail EMIs on HDFC debit cards only.

6. Can the customers change the EMI plan after placing the order?

No, EMI plans cannot be changed once an order is placed.

7. Do customers need to pay any down payment to avail Debit Card EMI?

No, the customers need not pay any down payment amount to avail the EMI.

8. Is there a possibility to foreclose EMIs availed on Debit Cards?

Yes, Debit Card EMIs can be foreclosed after clearing first three EMIs.