Debit Card EMI for Two Wheeler Purchase

Debit Card EMI for Two Wheeler Purchase

 

Federal Bank, your perfect banking partner, offers you a completely paperless debit card linked EMI facility for purchase of two-wheelers. The debit cardholders of the bank can book a two-wheeler for as low as Rs. 1 and pay the remaining amount via debit card EMI. The offer will be applicable at select showrooms of Hero MotoCorp, Honda, Yamaha, Bajaj, Hero Electric and Okinawa across the country. 

 


 

Please SMS DCEMI to 5676762 or give a missed call to 7812900900 to check your eligibility instantly

 


 

Click on the logo of your favorite brand to locate nearest store

 

 

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General Terms and Conditions for Federal Bank Debit Card EMI

To view the general terms and conditions of Debit Card EMI facility, please click here.

Frequently Asked Questions- Debit Card EMI

1.    How do I check my eligibility for Debit Card EMI?

SMS DC<space>EMI to 5676762 or give a missed call to 7812900900 to check your eligibility instantly

2.    What all tenures are available for Debit Card EMI?

The available tenures are 3,6,9 and 12 months.

3.    What is the amount limits for purchasing on Debit Card EMI?

You can avail limits between Rs.5,000-Rs.1,50,000 based on your eligibility.

4.    How long will I be eligible for this pre-approved offer?

The term of the eligibility period will be as seen in the eligibility SMS.

5.    Can NRI avail this facility?

No. This facility is only provided to resident individual customers only.

6.    Where I can avail this offer?

This offer can be availed in select retail stores which can be located using the below link 

https://emistores.pinelabs.com/#/stores?q=U2FsdGVkX19eQdOd0DEpzdophj1ziK21+01r77vvfBo+9J9ilvIEWx1fY4Wo55bC 

7.    What are the features for Debit Card EMI?
a)    Flexible Repayment Tenure- Choose tenure as per your convenience, from 3 months to 12 months
b)    No Documentation
c)    No Down Payment
d)    No Pre-closure charges
e)    No blocking of amount in account; loan amount will not be blocked in any of your accounts on availing this facility

8.    What is the rate of interest for the Debit Card EMI loan?

The rate of interest will be 14.5- 16% across all tenures. You can purchase for amounts ranging between Rs.5,000 and Rs.1,50,000/-

9.    Will my bank debit my account when I avail Debit EMI option?

No, your bank account will not be debited. Bank will open a pre-approved loan account for you and you need to pay monthly installments to your bank as per the EMI option selected by you.

10.    How will I pay back my EMI?

Bank will auto-enable standing instruction on your SB A/C, based on which your eligibility is determined, to enable debit of monthly payments for EMI. Please make sure you keep sufficient balance in your SB A/C to cover for EMI amount. In case you wish to re-pay the amount early, you can remit the outstanding amount of the loan into your loan account and the account will be closed automatically the next day.
        
 

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