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You can pay off this overdraft through EMIs, thereby, reducing the strain on your savings.

HDFC Bank is one of the leading private banks in India. With a total balance sheet of Rs. 8,95,653 crores and deposits worth Rs 6,71, 276 crores HDFC is India’s most valuable lender. The bank has always designed new and innovative ways to make their customer experience more enjoyable. Now you can convert large payments made on your HDFC Bank Debit Cards to Debit Card EMIs.

Debit Card EMIs allow you to pay for large purchases over a period of time. When you make a purchase using HDFC’s Debit Card EMI facility, HDFC pays the entire amount of your purchase to the vendor and opens an overdraft against your HDFC account. You can pay off this overdraft through EMIs, thereby, reducing the strain on your savings.


Advantages of HDFC Debit Card EMIs

No Money Blocked


Debit Card EMIs allow you to pay for large purchases over a period of time. Wikimedia Commons

There is no money that will be blocked in your HDFC account. Every month you will just need to pay the EMI amount.

No-Cost EMI

A no-cost EMI carries no additional costs, as the name suggests, this means that you will not need to pay any interest or additional charges of fees for using this facility. This facility by HDFC is available on Flipkart and Amazon on select Debit Cards.

Flexible Repayment Options

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There are a number of EMI tenures to choose from when using HDFC’s Debit Card EMI facility. You can choose between tenures of 3, 6, 9, 12, 18, and 24 months, depending on your convenience.

Instant Approval and Disbursal

HDFC Debit Card EMI can be availed online in no time. HDFC provides pre-approved EMI facilities to its preferred customers and the disbursal of the amount to the vendor happens within seconds. This gives you no lag when you make a purchase through the Debit Card EMI facility.

No Documentation


When you make a purchase using HDFC’s Debit Card EMI facility, HDFC pays the entire amount of your purchase to the vendor and opens an overdraft against your HDFC account. Wikimedia Commons

HDFC Debit Card EMIs require no documentation. As this facility is attached to your bank account and you are technically repaying the bank and not the vendor, there is no documentation required to avail this facility.

No Down Payment

When opting for HDFC’s Debit Card EMI facility you can convert the entire amount to EMI. You do not need to pay a downpayment or anything to avail this facility.

Eligibility

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Eligibility for HDFC Debit Card EMIs is left to the discretion of HDFC. HDFC determines a cardholder’s eligibility based on their transaction history, duration of holding the account, account statements, relationship with the bank, credit score, etc. If you are eligible for HDFC Debit Card EMIs you will be intimated by HDFC or it will show up as a payment option when you are making a purchase online.


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