SBI Card EMI: what it really costs

Interest, processing fee and closing charges from SBI Card's own documents, checked on 26 October 2026.

Flexipay EMI

Credit card, converted to EMI after buying

Interest: 10% to 26% a year
Months offered: 3, 6, 9, 12, 18, 24, 36
Processing fee: 1% of the amount, at most ₹2,000, plus GST
Closing early: 3% of the amount still owed, plus GST
Smallest purchase: ₹2,500

Source: www.sbicard.com, www.sbicard.com, www.sbicard.com

Why no cost EMI is not free

Every card EMI is a loan. On a no-cost EMI the shop gives a discount equal to the bank's interest, so the instalments add up to the price.
The bank still bills 18% GST on that interest every month.
Most banks charge a processing fee, plus GST, to set up the EMI.
Sale offers often give a bigger discount for paying in full, which you give up by choosing EMI.

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