EMI on Debit Card

EMI with Debit Card/Pay-later facility limit

Product Details

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.

Product Offering

  • No blocking of money in account
  • No Down Payment: Get 100% finance to buy the products and services you need
  • No documentation
  • Flexible Repayment Tenure: Choose a tenure according to your needs, from 3 months to 24 months, with our pocket-friendly repayment options.
  • Instant Approval & Process: Cut the waiting period and processing time - perform the transaction and complete the purchase instantly!
  • Easy re-payments from linked Savings Account
  • No-Cost EMI Available: Interest Cost on EMI is reversed or reduce through Manufacturer Cashbacks/Discounts* 

*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:

  • Choose your product and ask the store executive for payment through IndusInd Debit Card / Cardless EMI option
  • Choose ‘IndusInd Bank Debit Card EMI’ option on the payment terminal
  • Choose between tenures 3, 6, 9, 12, 18 and 24 months
  • Swipe your Debit card or enter the card details, on the payment terminal
  • Authorise the transaction by entering your Debit Card PIN.

Online websites / online stores:

  • Choose your product, Add to cart and proceed to Buy/Purchase
  • Choose the Payment Method -> Pay with EMI via Debit Card
  • Select IndusInd Bank Debit and select the desired tenure options from 3, 6, 9, 12, 18 & 24 months
  • Enter requested details, of Debit Card number and Mobile number, on the payment page ( or PAN number where cardless option is available )
  • Enter OTP received on registered mobile number, agree to T&C and authorize the transaction.

Available at the following stores:

To check your eligibility for EMI on Debit Card, click here
SMS: MYOFR to 5676757

Offers and Partnerships

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

Enjoy exciting offers on purchases with IBL Debit Card EMI

dc emi daikin offer
Canon Offer
Samsung CD Offer
Samsung CD Offer
Ao Smith Offer
Bajaj Electrical

Fees & Charges on Debit Card EMI

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%
  • Processing Fee : Rs.199 + Applicable taxes
  • Auto-Debit Return Charges : Rs.500 + Applicable Taxes
  • Late Payment Charges : Rs.450 + Applicable Taxes
  • Pre-closure / Foreclosure Charges : 3% of balance principal outstanding + applicable taxes

*The EMI shall be calculated on monthly reducing balance

Service Providers

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.

Terms and Conditions

  • The Debit Card EMI facility is offered to select pre-approved customers of IndusInd Bank. The facility and the pre-approved limit can be amended / withdrawn without any prior notice
  • The Debit Card EMI product is offered by IndusInd Bank in association with merchants, manufacturers and payment aggregator partners. The facility for EMI conversion needs to be opted for at the time of transaction.
  • The EMI shall be booked automatically within 2 to 3 working days from the time of EMI transaction at the merchant.
  • A detailed Terms & Conditions statement and a Key Fact Statement for the DC EMI facility shall be shared with the customer on the registered email ID, within 3 working days of the transaction. The Loan Reference number in the Key Fact Statement can be shared by customer with IBL Contact Centre to seek the Debit Card EMI Loan Account number.
  • This Debit Card EMI facility is purely optional at merchants, customers are under no obligation to opt for EMI on debit card.
  • The EMI transactions where No-cost EMI Discount / Cashback is being offered by the Brand or the Merchant, customers are requested to verify selection of the correct scheme. The Discount/Cashback will be passed onto the customer basis the selected scheme. IndusInd Bank will not be responsible for incorrect selection of scheme / offer at time of transaction.
  • The No-cost EMI Cashback will be posted to customer account linked to the Debit Card used for the DC EMI transaction, on or before 120 days from the end date of the Loan booking month. The No-Cost EMI Cashback is subject to the first 3 consecutive successful EMI re-payments.
  • The customer and the merchant are responsible for selecting the correct schemes and product while entering details at the terminal and processing the transaction at the point-of-sale. IndusInd bears no responsibility for complaints/disputes arising out of incorrect selection of product/scheme/offer at the time of transaction.
  • In case customer notices any discrepancy on the charge-slip/invoice immediately after completion of the transaction, the customer is requested to place Void/Cancellation request to the merchant.
  • The No-cost EMI discount / Cashback shall be forfeited in case of EMI payment default. In case of Loan request cancellation or loan closure the Bank reserves the right to withhold No-Cost EMI discount/cashback benefit.
  • Cancellation of EMI bookings is not allowed – except in case of the transaction itself being cancelled and full refund request from merchant being processed. Allowed period for cancellation: For Offline merchant store transactions the cancellation request must be placed by the customer within 7 days from the transaction date, and must be received from merchant within 30 days of transaction date.
  • The bank can recover any upfront Discount offers given at the time of transaction from customer’s account at the time of cancellation.
  • Post the allowed cancellation period, customer will have option to pre-close the EMI by contacting IBL customer contact centre. At the time foreclosure total interest due, covering overdue interest as well as interest accrued will be recovered.
  • Availability, delivery, quality, merchantability or suitability of the services to be rendered by merchants under the EMI on Debit Card facility and IndusInd Bank shall not be held liable for the same in any manner whatsoever.
  • Any tax applicable from time to time as notified by the Government of India, is applicable on all fees, interest and other charges and is subject to change as per relevant regulations of the Government of India.
  • IndusInd Bank and merchants reserve the right to add, alter, modify, change or vary all or any of these terms and conditions or replace, wholly or in part for this EMI on Debit Card facility by any other scheme, also this facility can be withdraw all altogether, without prior notice.
  • In case of Disputes/ complaints with respect to the EMI transaction, the customer/user must report the same to IndusInd Bank within 15 days of such transaction. Post this IndusInd will not be liable for resolution of the issue.
  • Disputes, if any, will be subject to Indian laws.

  • Bank shall not be liable for any technical errors occurring on the Platform. Similarly, merchant shall not be liable for any failure by Bank to extend the Facility to You/ process payments for any technical issues. For any issues regarding Debit EMI transactions, contact Bank’s Customer Care.
  • Products sold on the Platform are subject to availability from the respective sellers and accordingly Bank or Merchant in no circumstances shall be liable for non-availability of any of the products.
  • Bank does not endorse any of the products or brands being sold on the Platform and will not accept any liability pertaining to the quality, merchantability, fitness, delivery or after sales service of such products which shall be at the sole liability of the sellers on the Platform.
  • Bank and Merchant reserve the right, at any time, without prior notice and without assigning any reason whatsoever, to add/ alter/ modify/ change or vary these T&C.
  • Bank and Merchant reserve the right, at any time, without prior notice and without assigning any reason whatsoever, to withdraw the provision of this Facility to You.
  • Pictures of products shown in the communication sent to customers, either through e-mailers or advertised on the Platform, are representative only and may not bear a resemblance to the actual products. None of the parties shall under any circumstances be responsible towards the same.
  • You shall indemnify and hold Bank and/ or Merchant harmless against all damages, liabilities, costs, expenses, claims, suits and proceedings (including reasonable attorney’s fee) that may be suffered by the Bank and/ or Merchant as a consequence of (i) Your violation of these T&C, of the terms of user agreement or privacy policy (subject to change) as mentioned on the Platform; (ii) Your violation of applicable laws; and (iii) any action or inaction resulting in wilful misconduct or negligence on Your part.
  • All Government taxes/duties shall be payable by the customer.
  • This document is an electronic record in terms of Information Technology Act, 2000, and the Rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

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

  • What is IndusInd Debit Card EMI?

    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.

  • Where can I shop and avail Debit Card EMI (DC EMI)?

    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

  • How to check eligibility of my Debit Card?

    To check your eligibility for EMI on Debit Card – send SMS from your registered mobile: – : MYOFR to 5676757

  • How to foreclose / facilitate early repayment of my loan?

    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.

  • How to cancel the loan, though the product is not booked and loan sanction letter has been released?

    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.

  • When will I be charged? How to change my Debit Card EMI due date?

    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. 

    Disbursement Date 1st EMI on
    1-22 August 4th Sep
    23rd August onwards 4th Oct
  • I have Rs.10,000 in my bank account and want to buy a product worth Rs.20,000. Can I use Rs.10,000 from my bank account and avail the remaining Rs.10,000 through Debit Card EMI?

    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.

  • How will I pay my EMI to the Bank?

    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.

  • Is No Cost EMI being offered? How do I avail the benefit of No-extra cost EMI?

    • Currently, IndusInd Bank do not offer No cost EMI option is available with select Brands and at select merchants. It is suggested that customer enquires with the merchant about the availability of this benefit, before purchasing the product.
    • The interest cost for a No-Cost EMI transaction is reversed to the customer through cashback posting of amount equal to the interest component. Depending upon the No-Cost EMI scheme from the manufacturer brand the interest cost reversal can be in Full or Partial.
    • Example^:
      • In below example customer purchases a product for Rs.20,000 under a Brand’s No-cost EMI offer, and chooses EMI tenure of 6 months. Given that IBL’s rate of interest on 6 month EMI is 16.00%*, customer’s loan will be booked with the applicable Interest rate. The total cost with interest to customer comes to be Rs.20943. To make the purchase a No-Cost EMI for the customer, Rs.943 shall be posted as cashback to customer account.
        Transaction Amount (Rs.) Tenure RoI* EMI (Rs.) Total Amount with Interest (Rs.) No-Cost EMI Cashback (Rs.)
        20000 6 16.00% 3490 20943 943
        ^For illustrative purpose only. *Subject to change
  • What is the minimum and maximum purchase amount allowed underfor availing Debit Card EMI transaction?

    • Any purchases on and above Rs.5,000 can be made using Debit Card EMI. The minimum transaction can vary among channel partners partners
    • Single transaction of up to Rs.200,000 is allowed
  • What are the EMI tenures available for Debit Card EMI?

    Currently IndusInd Debit Card EMI is available with 3/6/9/12/18/24 month EMI tenures.

  • What happens if one or more EMI payments are missed?

    In case of EMI payment/s missed on the due date, it will attract Bounce payment and/or Late payment charges as applicable. 

  • What happens if my Debit Card is renewed mid-way during my loan tenure?

    There will be no effect on the current loan as  repayment is linked to savings account

  • What is to be done if I wish to close my Indusind Bank account mid-way during my loan tenure?

    Customer needs to pay the foreclosure charge and outstanding loan amount before closing the IndusInd account

  • I purchased more than one product using Debit Card EMI, however I wish to return one of the products. Is partial refund / cancellation of the EMI allowed?

    Partial/refund cancellation is not available right now.

Contact Us for Debit Card EMI

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