About EMI

EMI provides an option to your customers for making total payment in easy equal monthly installments at the applicable interest rates from the list of banks and partners. This payment option encourages your customer to make big value purchases without worrying about paying the full amount upfront. Customers pay principal amount and interest in monthly equal installments.

With Razorpay, you can offer your customers EMI as a payment method to buy various products on EMI using Debit Cards, Credit Cards, No Cost EMI, Low Cost EMI and Cardless EMI.

Watch Out!

Instant Refunds are not supported on EMI, Cardless EMI and Pay Later.

EMI Types

EMI Types | Availability

Credit Card EMI | ✓ (SBI Credit Card requires Approval)

Debit Card EMI | ✓

No Cost EMI | ✓ (Debit and Credit card EMIs)

Low Cost EMI | ✓ (Debit and Credit card EMIs)

Cardless EMI | Requires Approval

You can view the EMIs enabled for your Razorpay account from the Account & Settings → Payment Methods tab.

Additional Payment Methods

You can raise requests for additional payment methods. Know more about Payment Methods.

Payment Flow on Standard Checkout

On your website or app, customers select the products and proceed to Checkout.

On the Checkout page, the customers:

1. Enter the Phone Number and click Continue

2. Select EMI, No Cost EMI or Low Cost EMI as the payment method as highlighted below.

3. Select a preferred EMI type, Credit, Debit or Cardless.

4. Choose a bank from the list and select the EMI tenure. This flow is for Credit Card EMI. Click Continue.

5. Enter the required details and choose if they want to Save this card as per RBI guidelines or pay without saving the card.

6. Click Continue.

After the successful payment, Razorpay redirects customers to your application or website. Customers’ monthly statements will reflect the EMI amount with interest charged by the bank. You receive the full amount in your bank account as per your settlement cycle.

Try EMI Flow on Checkout

You can try the EMI flow by clicking the Pay with Razorpay button. This initiates a ₹5,500 payment. Provide the relevant details and complete the payment.

Live Transaction with Auto Refund

This is a real transaction and money will be deducted from your account. However, the amount debited will be auto-refunded to your account in 5-7 working days.

Pay with Razorpay

Test Card

You can use the test cards to test domestic payments, international payments and subscriptions. Know more about Test Card details.