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Debit Card EMI

Debit Card EMI

  • Pre-approved limit upto Rs.50,000/- as per the pre-defined rules.
  • Purchases upto Rs.50,000/- on Pine labs POS can be converted to easy EMI from 3 months to  18 months
  • Avail the facility in more than 2 lac merchant outlets
  • Cash back available from 100+ brands
  • Cash back from Brands upto 16%
  • I have been offered the choice of normal as well as EMI for this purchase and I have chosen EMI
  • I have fully understood and have accepted the terms and conditions of converting debit card transaction in EMIs for the applicable charges mentioned in the chargeslip.
  • I understand that the transaction will be processed within 3 working days.
  • Bank has the sole right to decline or accept any EMI conversion request subject to the eligibility of the customer.
  • I hereby request and authorize the Bank to initiate / activate autodebit facility in my operative account for due repayments of Equated Monthly Instalments arising under this EMI facility.
  • I hereby agree for Bank of Baroda to debit my linked account for Re.1 in addition to the EMI booking
  • By entering the PIN number it will be treated as the acceptance of all terms and conditions.
  • Detail Terms and Conditions are mentioned on Bank of Baroda’s website www.bankofbaroda.com and the same shall be binding on me.
  • I understand and concur that On failure of EMI payment dues or dishonour of auto debit mandate registered in the operative account, bank can take legal action as per Section 25 of the Payment and Settlement Systems Act, 2007 or mark lien on my saving account to recover the outstanding due amount or set off amounts available in any other accounts with the Bank, either held singly in my name or jointly with any other individual/person.
  • Transactions attempted by non-eligible customers will be considered as a normal transaction and will not be converted in EMIs.
  • I hereby undertake and declare that the said amount sanctioned and utilised shall be deemed to be for my benefit and purpose, at my specific request.
  • The EMI Facility is subject to applicable law and regulations and would be modified / discontinued based on the prevailing law / regulation at any point of time and neither party shall be under any liability or obligation or continue implementation of the said Facility till such time the terms are modified by the Parties as per the prevailing/ amended law at that point of time. In the event, that the Facility cannot be continued without total compliance of the prevailing law at any point of time, this Facility shall be deemed to be terminated forthwith from the date when the amended law restricting / prohibiting the product comes into force.

On The Fly – Debit Card EMI (OTF-DEP)

The product offers to convert purchases above Rs.5,000/- into easy EMI of 3/6/9/12 & 18 months. Under this program, bank is having Tie up with Pine Labs Pvt Ltd. to offer EMI on the POS device to the pre-approved SB customers upto a limit of Rs.50,000/-. Customer is eligible for cash back (if any) from Brands subject to Terms & Conditions.

Who is eligible under this program?

  • Individual SB account holders having qualified through pre-defined internal rules of the Bank.

What is the minimum age of the customer to qualify under this scheme?

  • The minimum age of the customer to qualify under this scheme is 21 years.

How will I come to know my eligibility?

  • Eligible customers will be informed through SMS / email.

What is the minimum average balance one has to keep avail the benefit under this scheme?

  • Rs.5,000/- is the minimum average balance one has to maintain in his SB account.

What is the maximum eligible limit under the scheme?

  • Maximum eligible limit is Rs.50,000/- to Pre-approved SB customers.

What are the tenure options?

  • 3/6/9/12 & 18 months to repay the pre-approved loan.

At what rate of interest the pre-approved limit is available?

  • Rate of interest applicable on all tenures is @16% p.a.

Is there any processing fee associated with this scheme?

  • There will not be any processing fee under this scheme.

Whether there is any pre-payment charges applicable to this scheme?

  • There is no pre-payment charges under the scheme.

Whether there is any cash back from OEM`s/Brands?

  • Cash Backs from OEM`s (if any) will be directly credited to SB account of the customers.

Customer can send an SMS by typing " DCEMI <space> <last four digits of BoB debit card No.> " to 8422009988.

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