How To SBI Credit Card EMI Foreclosure

SBI Credit Card EMI Foreclosure

Foreclosing an EMI (Equated Monthly Installment) on an SBI (State Bank of India) credit card refers to paying off the remaining balance of your EMI plan before the scheduled tenure. This means that you are settling the outstanding dues of your credit card EMI in one lump sum payment instead of continuing with the monthly installments.

When you avail of a product or service using your SBI credit card and choose to convert the payment into EMI, the total amount is divided into smaller installments spread across a specific duration. However, circumstances may change, and you might want to clear the remaining dues before the agreed-upon tenure. This process is known as EMI foreclosure.

EMI Option

Many credit cards, including those issued by SBI, offer the option to convert high-value transactions into EMIs. This helps in spreading the cost over a specific period.

Foreclosure Benefit

Foreclosing an EMI means paying off the remaining principal amount of the EMI plan before the term ends. This can save you money on interest payments that you would have otherwise incurred had you continued the EMI till the end of its tenure.

Interest Calculation

Interest on credit card EMIs is typically calculated on a reducing balance basis. This means that as you pay off the principal amount, the interest for subsequent months is calculated on the reduced outstanding balance.

Foreclosure Charges

While foreclosing an EMI can save you on interest, some credit card issuers may charge a nominal fee for closing the EMI before the original tenure ends. It’s important to check with SBI about any applicable foreclosure charges.


To foreclose an EMI on your SBI Credit Card, you generally need to contact the SBI customer care or visit the nearest SBI branch. Provide them with the necessary details such as your credit card number and the EMI plan you wish to foreclose. They will guide you through the process and provide information about the outstanding amount to be paid.


Once you have the details, you can make the payment to settle the outstanding EMI amount. This can typically be done through a fund transfer from your bank account to your credit card account.


After the payment is processed, you should receive a confirmation of the EMI foreclosure from SBI. This confirmation should also reflect in your credit card statement.

Impact on Credit Score

Foreclosing an EMI can have a positive impact on your credit score, as it indicates responsible credit behavior. However, always ensure that you have the necessary funds to foreclose the EMI before proceeding.


How To SBI Credit Card EMI Foreclosure

Contact SBI Customer Care

Get in touch with SBI Credit Card Customer Care through their helpline number, which can be found on their official website or the back of your credit card. Alternatively, you can log in to your SBI Credit Card account online and find the customer care contact details.

Request for EMI Foreclosure

Once you are connected with a customer care representative, inform them that you want to foreclose or close the EMI on your credit card. Provide them with your credit card details, including the EMI reference number and other relevant information.

Confirmation of Outstanding Amount

The customer care representative will provide you with the current outstanding amount that needs to be paid to foreclose the EMI. This amount might include any remaining EMIs, processing fees, or other charges.


Make the payment for the outstanding amount using your preferred mode of payment. This can usually be done through online banking, NEFT/RTGS, mobile banking, or at an SBI branch.

Foreclosure Confirmation

After the payment is successfully processed, SBI will confirm the closure of the EMI. They might send you a confirmation email or SMS. You can also verify the closure by checking your credit card statement.

No Objection Certificate (NOC)

Some customers might receive a No Objection Certificate (NOC) from SBI after the EMI is successfully foreclosed. This document states that you have cleared your dues and there are no outstanding payments.

Update on Credit Report

The EMI foreclosure should be updated on your credit report to reflect that the loan obligation has been closed. This can positively impact your credit score if you have been making timely payments.

It’s important to note that there might be certain terms and conditions associated with EMI foreclosure, such as foreclosure charges or processing fees. Make sure to clarify these details with the customer care representative before proceeding with the foreclosure process.

Additionally, the process might vary based on changes in SBI’s policies or procedures, so it’s recommended to reach out to their official customer care channels for the most accurate and up-to-date information.

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