Amidst the festive season, we all have one thing in common – Shopping! It is a well-known fact that since the concept of Equated Monthly Installment (EMI) came into play, the entire shopping experience has transformed.
Gone are the days when people actually used to postpone or cancel their purchases due to the high price. Everyone thinks that EMI shopping is only possible with a credit card. Wrong! Without credit card EMI shopping is the new big thing.
What is an EMI?
To understand how the entire concept works, let’s know the basics first. Basically, EMI is a fixed amount of money paid by a borrower to the lender each month on a specific date.
What is an EMI card?
This card is one of the most trending and best replacements for a credit card. So this card works as a pre-approved loan that helps you to purchase any lifestyle and durable product. These cards have become very popular as they offer a very smooth purchasing cycle and also help with shopping on EMI without credit card. It is essential to understand that an EMI card can be used for both online and offline purchases.
If I share my personal experience, honestly, I’ve been using this card for around four and a half months. I availed of this card as I had to purchase a new smart television. Its MRP was Rs 1,09,990. Now, why would I give this much money in one go when I can easily pay it off in a few months without paying any interest?
What are its benefits?
I’ve experienced shopping on EMI with a credit card, and due to the higher interest rate and short no-cost EMI period, I’ll not recommend it. So shopping on EMI without credit card is only possible via an EMI card.
Please don’t consider this content piece promotional, as I’m just sharing my experience. While searching for an EMI card, I came across the Bajaj Finserv EMI card. Luckily, one of my colleagues was already using this card, and he told me about its perks, following which I applied for the same.
Here are some of its benefits –
It comes with a pre-approved loan amount of Rs 2 lakh.
You can also use this card digitally on the Bajaj Finserv Wallet App on your smartphone. No need to carry it everywhere.
Flexible Repayment Tenure
It allows repayment within a flexible period varying from 3 to 24 months.
How to get an EMI card in India?
- Download the Bajaj Finserv app
- Sign up with your personal information
- Once you log in, on the home page you’ll see the option for EMI Network Card under the ‘Products for you’ section
- Tap on it and tap on Get it now
- Enter all the details and proceed further
Remember, there are certain checkpoints to avail of this service. Firstly, your age should be between 21 to 60 years. Secondly, you should have a regular source of income.
So, remember, if you are planning to go without credit card EMI shopping, an EMI card is the best way to go.