At IndusInd Bank, we always endeavour to provide the highest standards of products and services to our customers. Continuing our efforts, we bring EMI facility on Debit Card for our existing customers.
The EMI on Debit Card or Pay-Later limit is an added benefit to the customers where they are given a pre-approved limit basis their relationship with Bank. The customers can use this limit to purchase the product in stores and online website with affordable repayment options.
Customer can use the limit to purchase with EMIs with transaction value from Rs.5,000 to Rs.200,000 and have the flexibility to repay the loan over a tenure of 3, 6, 9, 12, 18 and 24 months.
*Applicable to select Brands and products only. The No-Cost EMI offering is at complete discretion of the Manufacturer Brands.
IndusInd Debit Card EMI shall be available at point-of-sale - physical merchant stores and online websites.
Physical stores:
Online websites / online stores:
Available at the following stores:
To check your eligibility for EMI on Debit Card, click here
Or
SMS: MYOFR to 5676757
Extra savings with ‘No-Cost EMI’ or ‘Low-cost EMI’ on IBL Debit Card: This feature, the interest cost on EMI is Reduced or Reversed by passing a Cashback ( termed as Manufacturer’s cashback/ discount ) to customer’s savings account.
Details of applicable Cashback for respective Brands are also available at the point-of-sale and are also printed on the transaction charge-slip.
Information shared hereby on brands is likely to change without prior notice, Please confirm at merchant store before processing transaction.
Offers : Click on individual brands to know more.
Acer | Bosch | Canon | Carrier Midea | Croma | Dell | Eureka Forbes | Godrej Appliances | Haier | HP | Lenovo | LG Electronics | Oppo | Realme | Samsung | Siemens | Toshiba | Whirlpool | Xiaomi
Tenure | Interest Rate* w.e.f 01 Aug’23 |
---|---|
3 months | 17.00% |
6 months | 17.00% |
9 months | 17.00% |
12 months | 17.00% |
18 months | 17.00% |
24 months | 17.00% |
*The EMI shall be calculated on monthly reducing balance
Bank has partnered with below service providers to provide Debit Card EMI facility at various offline & online merchants.
Serial No. | Service Provider |
---|---|
1. | Pine Labs Pvt. Ltd |
2. | Razorpay Software Pvt. Ltd. |
As opting for Bank’s services and products, the User acknowledges the following terms https://www.indusind.com/in/en/personal/terms-and-conditions.html
Debit Card EMI is the program offering EMI schemes to IndusInd Bank customers who shop with their Debit Cards. Bank provides pre-approved limits to customers based on their relationship with the Bank and based on the Bank’s credit policies. Customers who enjoy pre-approved limit from the Bank can avail EMI facility by transacting with their IndusInd bank Debit Card at select partner platform.
The program is available on merchant stores, online stores & websites where EMI facility has been enabled by Bank on point-of-sale terminal or Payment options page
To check your eligibility for EMI on Debit Card – send SMS from your registered mobile: – : MYOFR to 5676757
You will have to reach out to IBL Contact centre and share the Loan reference number mentioned in the Key Fact statement for details of Loan Account number. You will be issued a foreclosure letter by Contact centre, whereby you can foreclose the loan post payment of 1st EMI by visiting the nearest IndusInd Bank branch and placing a request for foreclosing the loan by citing the loan account number to the branch representatives. Bank may charge early loan closure charges.
Loan cancellation can be done only bye cancelling the order at partner check out / merchant point-of-sale in free look-up period. The free look up period for offline transactions is 7 days.
For all transactions done till 22nd of the month, the First EMI will be deducted on 4th of the next month from your account linked to the Debit Card used for doing the Debit Card EMI transaction. Currently there is no option available to change the EMI due date. Payment due dates are uniform for all our Customers, which is 4th of every month.
Example | |
---|---|
Disbursement Date | 1st EMI on |
1-22 August | 4th Sep |
23rd August onwards | 4th Oct |
You will need to make the complete transaction of Rs.20,000 using Debit Card EMI option. Partial down payment is not permitted in Debit Card EMI.
IndusInd Bank will auto-enable standing instruction on your savings account to enable debit of monthly instalments. Please ensure to maintain sufficient balance in your account to cover for EMI.
Transaction Amount (Rs.) | Tenure | RoI* | EMI (Rs.) | Total Amount with Interest (Rs.) | No-Cost EMI Cashback (Rs.) |
---|---|---|---|---|---|
20000 | 6 | 16.00% | 3490 | 20943 | 943 |
Currently IndusInd Debit Card EMI is available with 3/6/9/12/18/24 month EMI tenures.
In case of EMI payment/s missed on the due date, it will attract Bounce payment and/or Late payment charges as applicable.
There will be no effect on the current loan as repayment is linked to savings account
Customer needs to pay the foreclosure charge and outstanding loan amount before closing the IndusInd account
Partial/refund cancellation is not available right now.
Call Us
Call 1860 267 7777(Local call rates apply), you can reach contact centre at any time of the day and on days of the week.
Write to us
Be it an enquiry, feedback or a simple suggestion, write to us on reachus@indusind.com