IndusInd Bank launches EMI on debit cards

IndusInd Bank on Wednesday announced the launch of EMI (Equated Monthly Instalments) facility on Debit Cards to enable its customers to convert their high-value transactions into easy instalments.

A debit cardholder of the Bank can walk into any participating store and can avail the facility by simply swiping/tapping their card at a merchant PoS terminal.

Debit cardholders of the Bank can avail this facility of buying products and then choose an EMI option with tenures from 3, 6, 9, 12, 18 and 24 months. Customers can even check their eligibility through SMS by typing MYOFR and sending it to 5676757.

Speaking about the proposition, Ms. Charu Mathur, Chief Digital Officer & Head-Business Strategy, IndusInd Bank, said, "IndusInd Bank has always been at the forefront at driving customer convenience by introducing products that bring unparalleled value to their banking experience. We are delighted to launch an EMI facility for our debit cardholders that will enable them to purchase products of their choice from a wide array of categories, and also give them the flexibility of making payments in easy instalments over a period of time. With the festive period having dawned upon us, we are confident that such exciting propositions will add to the customer's celebration, and propel their purchase decisions.

To begin with, IndusInd Bank has partnered with over 60,000 offline merchant outlets, including large format retailers, hypermarkets, multi-brand and stand-alone stores to facilitate purchases across categories like Consumer Durables, Electronics, Apparels, Automobiles, Home Décor, Hospitals and more. The Bank will soon be partnering with leading e-commerce platforms to enable online purchases as well.

Shares of IndusInd Bank were trading 0.23 per cent higher at Rs 1,196.75 on NSE at 1:44 pm.

IndusInd Bank caters to the needs of both consumer and corporate customers. As on June 30, 2021, IndusInd Bank has Branches 2,015/ Banking Outlet and 2,870 ATMs spread across 760 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi.