SBICPSL will not be responsible for EMI conversion of transactions where on account of a technical issue with merchant’s swipe machine, EMI option could not be opted for.Customers are advised to check charge-slip for EMI details post transaction and request merchant to Void transaction in cases where a transaction is swiped as a regular transaction instead of EMI. SBICPSL will not be responsible for EMI conversion of transactions where merchant has erroneously swiped transaction as a regular transaction instead of EMI.SBICPSL shall not be liable for any non-conversion/cashback related issues reported post this period. In case of any dispute/issue with respect to a merchant EMI transaction, cardholder must report the same to SBI Card within 45 days of transaction.Please note, in case current outstanding balance on SBI card is less than the requested transaction amount then the current outstanding amount would be converted into EMI provided difference between current outstanding amount and requested transaction amount is less than or equal to 90%. EMI would be booked automatically within 3 to 4 working days on request placed at the merchant provided there is sufficient outstanding balance available on card at the time of conversion.Interest rates as communicated at the time of availing of the product(s) shall be applicable/ levied.The Credit Limit will be released to such extent as and when the EMI is billed and paid for in subsequent months. The Credit Limit on the Credit Card shall be blocked to the extent of the full transaction amount.14% Rate of interest applicable on monthly reducing balance on EMI transactions of 3,6,9 & 12 months and 15% Rate of interest applicable on monthly reducing balance on EMI transactions of 18 & 24 months.The EMI shall be computed on a monthly reducing balance.SBICPSL shall be entitled to demand immediate repayment of such consolidated outstanding amounts.In the event the Credit Card is closed prior to all installments being charged, the amount outstanding against Merchant EMI plan shall be debited as a consolidated amount from the Credit Card account of the Cardholder.A Cardholder may opt to convert a purchase at select Merchant outlets into Equated Monthly Installments (EMIs.) The Purchase/s would be converted into Equated Monthly Installments (EMI) by charging interest on the total EMI Booking Amount value on a monthly reducing balance basis.Merchant EMI needs to be opted for at the time of transaction.“Merchant EMI” shall mean a product wherein the purchase(s) done at Merchant Establishments/websites and are converted into Equal Monthly Installments at the point of transaction at the rate as communicated at the time of availing the product(s)/service(s).“Cardholder” shall mean the holder of a Credit Card.“Credit Card” shall mean an unexpired credit card issued by SBICPSL.In these Terms and Conditions, the following terms shall have the following meanings Tenure of EMI may vary with different product/services and Merchant Entities.Any such participation is purely voluntary and the same is being made purely on a “best effort basis”. Cardholders are not bound in any way to participate in this Offer.The EMI offers are valid only for selected products and/or services at selected Merchant Entities.The EMI offers are valid for resident Indian citizens only and for transactions effected through SBI Credit Card with in the territory of India. This offer is brought to you by SBICPSL in conjunction with the merchant/ manufacturer entity through our aggregator/partner.
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