Federal Bank Offers EMI on Debit Cards to Customers for Purchase of Two Wheelers

two wheeler

Mumbai, Sep 22, 2020: Federal Bank introduces EMI facility for holders of Federal Bank Debit Cards to purchase two-wheelers. Eligible customers of Federal Bank can own their favourite two-wheeler by making a payment of ₹ 1/- at 947 showrooms of Hero MotoCorp, Honda Motorcycle and TVS Motor. The financing process involves no paperwork or bank visit and is done completely online. Unlike conventional two-wheeler loans, hypothecation in favour of the Bank is not required for vehicles purchased on Debit Card EMI from Federal Bank. Customers can choose a repayment period of 3/6/9/12 months. There is no processing fee charged on loans under this scheme.

Customers who purchase two-wheelers from 793 Honda Motorcycle showrooms across the country availing EMI on Debit Card from Federal Bank will also get a cashback of 5% as a festival offer. Customers can check their eligibility for EMI by sending an SMS in the format DCEMI to 5676762 or giving a missed call to 7812900900.

With the sale of passenger vehicles and two-wheelers showing an upward trend on the back of demand spurred by the festive season and social distancing protocols and a reduction in GST for two-wheelers on the cards, this option of easy finance and cashback offer is expected to give further impetus for Federal Bank customers wishing to own brand-new two-wheelers. The Bank offers EMI on Debit Cards for purchase of consumer durables at over 36,000+ stores PAN India. The Bank has recently started offering EMI for purchases on e-commerce portals Amazon and Flipkart too