Frequently Asked Questions (FAQs)
Find answers to frequently asked questions about EMI as a payment method supported at Razorpay Checkout.
Yes, you receive the full amount at once and the provider/bank converts it into EMI for the customer.
Eligibility is checked using the card number and registered phone number. Therefore, customers should always use the phone number registered with the bank while making a payment.
None. Customers need not have any minimum balance in their accounts while placing the order. However, they need to ensure that their accounts have sufficient funds to pay the EMI due every month.
Customers can check their eligibility by sending the SMS
DCEMI last 4 digits of Debit Card number to 56767, from their registered mobile number.
To avail
, your customers should pass the eligibility criteria set by their banks.5. Can you provide a list of the EMI plans and interest rates of different banks that support Debit card EMI?
No, EMI plans cannot be changed after an order is placed.
No, the customers need not pay any down-payment amount to avail the Debit Card EMI option.
Yes, Debit Card EMIs can be foreclosed after clearing the first three EMIs.
The Debit Card EMI payment method is not allowed for certain business categories. Check the relevant Category section below for the list of sub-categories and support status. Debit Card EMI is not allowed for categories with N as the status.
Watch Out!
Due to our partner bank restrictions, the Debit Card EMI payment methods may not be available to all the Merchant Categories and Subcategories.
The interest rates charged by various banks for each of the tenures are provided for your reference. The minimum transaction amount for which EMIs are applicable can vary for each bank. The maximum amount is dependent on the card limit set by the issuing bank.
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