1. What is SBI Credit Card Flexipay?

SBI Credit Card Flexipay is a convenient EMI (Equated Monthly Installment) option that allows cardholders in Malaysia to convert large purchases into affordable monthly payments with interest.

2. How Does the EMI Calculator Work?

The calculator uses the standard EMI formula:

Where:

• \( P \) — Principal loan amount (MYR)
• \( R \) — Monthly interest rate (annual rate divided by 12, in decimal)
• \( N \) — Loan tenure in months

Explanation: The formula calculates the fixed payment amount the borrower must pay each month to gradually pay off the debt over the loan period.

3. Importance of EMI Calculation

Details: Calculating EMI helps in financial planning, understanding repayment capacity, and comparing different loan options before making a purchase decision.

4. Using the Calculator

Tips: Enter principal amount in MYR, annual interest rate in percentage, and loan tenure in months. All values must be valid (principal > 0, rate > 0, tenure ≥ 1).

5. Frequently Asked Questions (FAQ)

Q1: What is the typical interest rate for SBI Flexipay in Malaysia?
A: Interest rates typically range from 8% to 18% per annum depending on the card type and promotional offers.

Q2: Are there any processing fees for Flexipay?
A: SBI may charge a one-time processing fee (usually 1-3% of principal) which is not included in this calculation.

Q3: Can I prepay my Flexipay EMI?
A: Yes, but prepayment charges may apply. Check with SBI for current prepayment policies.

Q4: How does this differ from normal credit card payments?
A: Flexipay converts a purchase into fixed EMIs with predetermined interest, while normal credit card payments require paying the full amount or incurring revolving interest.

Q5: Is GST included in this calculation?
A: This calculator shows the base EMI amount. Any applicable taxes would be additional.