With increase in inflation and commodity prices rising by the minute, meeting unexpected expenses can be anxiety-inducing. Instead of closing your FDs or breaking into your savings accounts during such emergencies, you can consider taking a small loan. Most financial institutions have a minimum limit of ₹2 Lakhs on their personal loans. However, at times you might need a smaller amount of money and loans may not seem like a viable option. Subsequently, interest charges levied on loans will only add to your existing burden. This is where the Bajaj Finserv EMI Network Card comes into play.
Through EMIs, you can fund your immediate needs while paying for them at a later date. Generally, if you opt for EMIs you will have to pay a small amount of the purchase price as down payment and pay the remaining amount in instalments. But with the EMI card by Bajaj Finserv you need not pay any down payment. Additionally, the No Cost EMI feature of the card exempts you from any interest charges as well. Thus making the EMI Card a feasible alternative to help cover any urgent expenses.
There are multiple reasons why the EMI card by Bajaj Finserv is a better option than taking a loan. They are stated below:
Unlike loans, the Bajaj Finserv EMI Network Card does not require any time for the loan amount to be disbursed. With the EMI card you get a pre-authorised loan amount of ₹2 Lakhs right away which you can use to purchase essential items.
You can apply for the EMI card by Bajaj Finserv online from the comfort of your homes. The online application procedure does not require the submission of any documents and can be done in no time.
The No Cost EMI feature offered by the Bajaj Finserv EMI Network Card implies that there won’t be any interest charged on the borrowed amount. Whereas if you take a loan, you will have to incur the interest charged on the principal amount.
The tenure to repay the borrowed amount on the EMI card ranges for 3 to 24 months. This gives you the liberty to opt for a repayment tenure that is tailored to your personal requirements. The total purchase cost will be evenly divided based on the repayment tenure and you will be required to pay the same every month.
The EMI card by Bajaj Finserv allows you to shop at over 1.2 Lakh merchant partners that are spread over 2900+ cities/towns. Consequently, you can explore up to 1.2 million products while seated on your couch.
The Bajaj Finserv EMI Network card charges are hardly any. In addition to zero interest charges, the EMI card is exempt of charges on foreclosure as well. At any given point during your repayment tenure if you wish to pay the amount in full and close your EMI account, you can do so without having to pay foreclosure charges. Moreover, unlike regular EMIs, under the No Cost feature of the EMI card by Bajaj Finserv, you need not make any down payment either.
Having gained a clear understanding of how beneficial the EMI card by Bajaj Finserv is, you might now wonder how you can lay your hands on it. As mentioned above, the application process is quite simple provided you meet some basic eligibility criteria.
The eligibility criteria to apply for the EMI card by Bajaj Finserv is as follows:
Furthermore, if you go ahead with the online application you will not have to submit any documentation. If you wish to pursue the offline mode of application, you will have to provide the essential KYC documents.
Here’s how you can apply for the Bajaj Finserv EMI Network Card online:
You will now be able to use your EMI card by Bajaj Finserv and make the most of all the perks it offers.
If you’re a fan of the old school way, you can follow the steps provided below to apply for the EMI card offline:
With a thorough understanding of how EMIs are a much better option than getting a loan, you should be able to make a decision that helps you resolve your immediate financial complications. Moreover, you cannot get multiple personal loans at a time to meet unanticipated expenses due to rigid eligibility criteria and the associated regulations.
Whereas, the EMI card has a much more relaxed eligibility criteria and seamless application procedure. Additionally, the Bajaj Finserv EMI Network card charges are quite negligible when compared to all the benefits that the card offers. Hence, if you’re in search of smart financing options, the EMI card by Bajaj Finserv is the way to go.
Disclaimer: This article is published in association with Bajaj Finserv and not created by TNM Editorial.