How Does Debit Card EMI Work? How To Apply?

byPriyanka JuyalLast Updated: December 29, 2023
How Does Debit Card EMI Work? How To Apply?
How Does Debit Card EMI Work?

In recent years, the concept of Debit Card EMI has gained popularity among individuals seeking convenient and flexible payment options as it allows users to convert their big-ticket purchases into easy installments without the need for a credit card. In this blog, we will delve into how Debit Card EMIs work and guide you on how to apply for it.

What is Debit Card EMI?

Debit Card EMI is a facility provided by banks and financial institutions that allows debit cardholders to convert their purchases into monthly installments. This means you can divide the cost of a high-value purchase, such as electronics, furniture, or appliances, into affordable chunks instead of paying the entire amount upfront.

How Does Debit Card EMI Work?

The process of availing Debit Card EMI involves a few key steps:

Step 1: Eligibility Check

Before applying for Debit Card EMI, you need to ensure that you meet the eligibility criteria set by your bank. Typically, these criteria include maintaining a minimum balance in your account, having a clean credit history, and maintaining a specific transaction threshold.

Step 2: Purchase at Partner Merchants

Make a purchase at a partner merchant store that offers Debit Card EMI facility. These merchants could be online retailers, electronic stores, or even certain offline establishments. Ensure that the transaction amount is within the permissible limit for EMI conversion.

Step 3: EMI Conversion Option

While making the payment, you will be presented with an option to convert the purchase into EMI. Choose the desired EMI tenure from the available options, ranging from a few months to a couple of years. It is important to note that different banks may offer varying EMI tenures and interest rates.

Step 4: Confirmation and Authorization

Once you select the EMI tenure, the bank will provide you with the terms and conditions of the EMI scheme, including the interest rate, processing fee, and any additional charges. Carefully review these details before providing your consent and authorizing the EMI conversion.

Step 5: Monthly EMI Deductions

Once the EMI conversion is confirmed, your bank will deduct the EMI amount from your linked savings account each month. Ensure that you maintain sufficient funds in your account to cover the EMI payments to avoid any penalties or default charges.

Do you know: What is a Virtual Debit Card and Why Should You Have One?

How to Access the Debit Card EMI Facility?

The process of applying for the debit card EMI facility is similar to that of applying for a credit card. Here’s a closer look at the steps involved:

  • Check eligibility of products: Begin by verifying which products are eligible for Debit Card EMI. This information is usually available on the product information page or can be obtained from the retailer.
  • Proceed to checkout: Once you have selected your desired product, proceed to the checkout page. Select your debit card as the payment method and look for the EMI option among the available payment options.
  • Choose tenure and interest rates: At this stage, you will be presented with various tenure options and corresponding interest rates. Carefully evaluate and select the option that aligns with your financial preferences.
  • Authenticate the transaction: To ensure security, additional authentication may be required, such as entering a PIN or One-Time Password (OTP). This step helps authenticate your identity and safeguard against unauthorized transactions.
  • Confirm transaction and account reversal: After successfully authenticating the transaction, the entire amount will be temporarily blocked on your debit card. The process of EMI conversion and account reversal typically takes place within two business working days from the date of the transaction. The first installment of the EMI will be deducted 30 days after the amount is reversed in your account.

Also Read: Learn How to Activate a Debit Card 

Points to Note About EMI on Debit Card

Debit Card EMIs have become a popular financing option for individuals looking to convert their purchases into convenient monthly installments. To help you understand this facility better, here are some important points to keep in mind:

  • Eligibility and tenure options: Different financial institutions have their own eligibility criteria for Debit Card EMIs, and the available tenure options may vary as well. This ensures that individuals have a range of choices that suit their specific financial needs.
  • Processing fee: To access the Debit Card EMI facility, a nominal processing fee is charged. This fee covers administrative costs associated with converting the purchase into installments.
  • Documentation requirements: Unlike other financing options, Debit Card EMIs usually do not require additional documentation. This simplifies the application process and saves individuals from the hassle of gathering and submitting paperwork.
  • Availability: Debit Card EMI facilities are available on select ecommerce platforms, as well as specific brands and products. It’s important to check if the desired platform and product offer this payment option before making a purchase.
  • Interest rates and charges: Interest rates for Debit Card EMIs can vary between institutions and may depend on the terms and conditions of the EMI scheme. It’s crucial to review and compare interest rates and associated charges before opting for a specific EMI plan.
  • Opting for EMI: It’s important to select the Debit Card EMI option at the time of purchase, as there is usually no provision to convert a transaction into EMI post-purchase. Make sure to choose the EMI option during the checkout process.
  • Debit Card eligibility: Before making a purchase, individuals should confirm whether their particular debit card is eligible for the Debit Card EMI facility. Eligibility may vary depending on the bank and specific debit card variant.

Know What are the Different Types of Debit Cards?

Difference Between Credit Card EMI and Debit Card EMI

Here is the comparison table highlighting the key differences between Credit Card EMIs and Debit Card EMIs:

Must Read: Difference Between Credit Card And Debit Card

Note that the specific terms and conditions of credit card EMIs and debit card EMIs may vary depending on the issuer or the bank providing the facility. It’s advisable to refer to the respective terms and conditions of your credit card and debit card issuer for detailed and up-to-date information.


Debit Card EMI has emerged as a convenient and flexible payment option for individuals looking to manage their expenses and make large purchases more affordable. By converting purchases into monthly installments, this facility allows debit cardholders to enjoy the benefits of EMI without the need for a credit card.


What is Debit Card EMI?

Debit Card EMI is a facility that allows debit cardholders to convert their purchases into monthly installments, enabling them to pay for high-value items over time instead of upfront.

How does Debit Card EMI work?

Debit Card EMI works by following a few simple steps. First, ensure your eligibility. Then, make a purchase at a partner merchant that offers the EMI facility. During the payment process, choose the EMI option and select the desired tenure and interest rates. Authenticate the transaction and confirm it. The EMI amount will be deducted from your linked savings account each month.

How can I access the Debit Card EMI facility?

To access the Debit Card EMI facility, you need to check the eligibility of products you wish to purchase. Proceed to the checkout page, select your debit card as the payment method, and choose the EMI option. Then, select the desired tenure and interest rates, authenticate the transaction, and confirm it.

Can Debit Card EMI affect my credit score?

Debit Card EMIs typically do not impact credit scores since they utilize funds from your linked bank account rather than a credit limit.

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