Zero Pay is an equal monthly installment plan that allows card holder to convert retail purchase transactions into an installment scheme where card holder pays back the amount over a period of time ranging from 3 to 24 months installment without any interest.
Zero Pay Tenure:
All products which merchant offers under this scheme can be transferred to Zero Pay ranging from 3 to 24 equal monthly installments by using SBL credit card.
Procedure: To avail the Zero Pay facility, Card holder needs to visit merchant outlet and fill out the Zero Pay application form. Merchant sent those applications to SBL cards Division and after proper verification, card holder transactions will be transferred to Equal Monthly Installment (EMI).
InInterest & Closing: Card holder can enjoy Zero Pay facility as much as the limit available.Card holder need not to pay any interest under this scheme. There is no processing fee and pre closing fee associated with Zero Pay.