No cost EMI on SBI credit card

[emiya007]

Hi. I know that on HDFC, ICICI and some other credit cards you can cancel the no cost EMI and save on interest payments without paying foreclosure charges.
SBI charges 3% foreclosure charges if you close the EMI later.
However, I read in another thread here that you can cancel the EMI by paying the full amount and so will not be charged the foreclosure charges. Could somebody guide me how to do so?

 

[Sudbht]

I think so

you are using the card after that for any purchases or yet to?

 

[Phonix_YT]

Pay immediately and keep the card unused till you get emi conversion failed message, usually ten days.

Is this still working?

 

[tappukepapa]

yes, as per other users.

Is this still working?

 

[Deepak_Shetty]

you are using the card after that for any purchases or yet to?

I am using the card

 

[ram173]

Iam willing to purchase a laptop from Amazon and want to get extra discount through no cost emi cancellation. Unlike smooth experience with other banks, Seen somewhere that sbi is charging 3% for converting no cost emi to full pay. Can anyone please help me with the exact process that i could get discount with no charges or very minimal charges?

 

[hakunamatata]

yes, as per other users.

Hi, can you explain the process, I have a SBI card with 1.5 L limit, yesterday I made a NCEMI purchase of about 76k, now what should I do?

 

[tappukepapa]

Hi, can you explain the process, I have a SBI card with 1.5 L limit, yesterday I made a NCEMI purchase of about 76k, now what should I do?

Trick is to pay immediately to the card after using NCEMI. And wait for emi failed sms, usually 10 days.

 

[hakunamatata]

Trick is to pay immediately to the card after using NCEMI. And wait for emi failed sms, usually 10 days.

The payment failed immediately after the purchase, I paid the whole amount a day after the transaction, now the outstanding is Rs. 0, will the trick work?

 

[MrWick]

Y

The payment failed immediately after the purchase, I paid the whole amount a day after the transaction, now the outstanding is Rs. 0, will the trick work?

Yes, it will work. Don't use the card until you get Emi failure msg

 

[iimadarsh]

The payment failed immediately after the purchase, I paid the whole amount a day after the transaction, now the outstanding is Rs. 0, will the trick work?

I did the same in my case it doesn't work

 

[MrWick]

I did the same in my case it doesn't work

The trick is keep the outstanding balance in negative until emi failure msg received

 

[iimadarsh]

The trick is keep the outstanding balance in negative until emi failure msg received

Maine negative nai rakha lekin 0 kardia tha outstanding.

 

[tappukepapa]

Maine negative nai rakha lekin 0 kardia tha outstanding.

payment via sbi card app or third party? and next day or instant after purchase?

 

[iimadarsh]

payment via sbi card app or third party? and next day or instant after purchase?

Via sbi app next day. But mere case pe 2rs + outstanding tha and txn amount jitna tha uska 2rs kam karke pay Kiya tha.
I mean total card limit jitna Mila tha utna kardia tha.

 

[Anupama_Jha]

Hi Team,

those who tried SBI no cost emi trick can you pls confirm do only these entries show up in your transactions or more.

 

[Deepak_Shetty]

Hi Team,

those who tried SBI no cost emi trick can you pls confirm do only these entries show up in your transactions or more.
View attachment 78609

Principal credit adjustment is not related to EMI, some times it will come without EMI transaction, some time random number.
I have just received text today 👇
"Dear SBI Cardholder, we regret to inform you that your MERCHANT EMI conversion request opted at the time of purchase at FlipkartPayments for trxn of Rs. 25558 done on 20-DEC-24 has not been converted for the following reason: Insufficient Retail Outstanding Balance. For more information, kindly call our helpline at 18601801290 or 39020202 (prefix local STD code)."

 

[Strange]

Principal credit adjustment is not related to EMI, some times it will come without EMI transaction, some time random number.
I have just received text today 👇
"Dear SBI Cardholder, we regret to inform you that your MERCHANT EMI conversion request opted at the time of purchase at FlipkartPayments for trxn of Rs. 25558 done on 20-DEC-24 has not been converted for the following reason: Insufficient Retail Outstanding Balance. For more information, kindly call our helpline at 18601801290 or 39020202 (prefix local STD code)."

After how many days since the NCEMI transaction did you receive this message?

Did you make outstanding balance negative or zero?

 

[Deepak_Shetty]

After how many days since the NCEMI transaction did you receive this message?

Did you make outstanding balance negative or zero?

Did transaction on 20th December 2024. Got failure message today.
Yeah, I kept outstanding zero.

 

[Deepak_Shetty]

Principal credit adjustment is not related to EMI, some times it will come without EMI transaction, some time random number.
I have just received text today 👇
"Dear SBI Cardholder, we regret to inform you that your MERCHANT EMI conversion request opted at the time of purchase at FlipkartPayments for trxn of Rs. 25558 done on 20-DEC-24 has not been converted for the following reason: Insufficient Retail Outstanding Balance. For more information, kindly call our helpline at 18601801290 or 39020202 (prefix local STD code)."

@Anupama_Jha check attachment. I did 25558 Rs EMI transaction but Principal credit/debit adjustment transaction is not showing in my statement.
Today I got EMI failure confirmation.