EMI (Equated monthly installment)

How can I avail EMI?

You can avail EMI from any of the merchants, who allow EMI facilities. You can avail EMI for the purchase of minimum BDT 5000 with a credit card.

How many banks are available for EMI?

There are in total 25 banks available for EMI facilities. They are-

01.AL-ARAFAH ISLAMI BANK LIMITID
02.BANK ASIA LIMITED
03.BRAC BANK LIMITED
04.CITY BANK LIMITED
05.DHAKA BANK LIMITED
06.DUTCH BANGLA BANK
07.EASTERN BANK
08.EXIM BANK
09.ISLAMI BANK BANGLADESH
10.JAMUNA BANK
11.LANKABANGLA FINANCE
12.MUTUAL TRUST BANK
13.NCC BANK
14.PRIME BANK
15.PUBALI BANK
16.SHAHJALAL ISLAMI BANK
17.SOUTHEAST BANK
18.STANDARD CHARTERED BANK
19.NRB COMMERCIAL BANK LTD
20.NRB Bank Limited
21.Meghna Bank Limited
22.SBAC Bank
23.Midland Bank Ltd
24.Shimanto Bank
25.Community Bank Bangladesh Limited

What is the procedure of EMI?

During transaction, after inputting the card number, a box appears where the EMI tenure needs to be selected. After selecting the EMI tenure, the EMI escalates to the SSLCOMMERZ. The next step is to perform SSLCOMMERZ after the customer completes the EMI. The customer does not need to contact the issuing bank to convert the transaction into EMI nor does he need to submit EMI documents.

How long it takes to convert an EMI?

EMI conversion takes 7-10 working days.

I have purchased a product with But I have been charged full amount for that. Why? And what should I do now?

Ans: When transaction is made, the full amount gets deducted from the cardholder’s account and stays in a freezing state, which gets adjusted after the EMI gets converted. The reflection of the EMI can be seen in the next billing cycle of the bank statement of the customer. If the customer sees the EMI is not converted after receiving the bank statement, the customer is requested to contact at the  operation@sslcommerz.com along with the bank statement.

Why do I need to pay charges for EMI?

EMI, which means Equated Monthly Installment (EMI), is a fixed payment amount made by a customer from a bank at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full. The EMI charges depend on the merchant’s decision on who is going to pay. If the merchant decides that, the EMI charge will be paid by the customer, then the customer will bear the charge of the EMI and vice versa. The merchant will have to set the EMI configuration according his choice.

Why SSLCOMMERZ online EMI service?

1. One stop solution with connectivity to 25 leading banks which occupy majority of the card industry.

2. Complete digital process with absolutely zero manual intervention.

3. EMI conversion in real-time with no document processing = Happy Customers.

4. Easy activation and integration.

5. Hassle-free operation.

6. Superior tech support.

Merchant’s benefits:

  1. Customers often feel reluctant to purchase expensive products online because it’s hard on their wallets. With EMI facilities, customers feel comfortable purchasing products of any value and choose the payment terms of their own choosing. With SSLCOMMERZ’s EMI service, merchants can see a significant increase in their revenue.
  2. Providing EMI with 25 major banks display a great value proposition for online customers and to increase a loyal customer base.
  3. Enhanced tech-compatibility, which keeps merchants aligned with the trends and gives them a competitive edge.