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Factors To Consider Before Choosing a EMI Card in India

Purchasing durable and lifestyle products has never been so easy since the concept of EMIs (Equated Monthly Instalments) came into existence in recent years. It has definitely increased the purchasing power of individuals and helped them purchase desirable products.

However, it is well-known that going ‘All in’ with your hard-earned savings is never a good option as it affects your budget big time.

From a top-notch television to the latest refrigerator, these appliances come at a price. However, a simple emi card apply online makes all this possible. Planning to purchase anything? Just swipe the card, and

it is yours.

What is an EMI card?

Available to purchase any durable and lifestyle product, an EMI card works just like a pre-approved loan. Nowadays, availing this card has become quite popular and is becoming a popular way of making purchases, making the entire process smoother and seamless.

If you go for the best EMI card in India, the one offered by Bajaj Finser, it comes with a pre-approved loan amount (mostly up to Rs 2 lakh) and can be used to make online as well as offline purchases. Further, the total amount can be paid through monthly installments.

What are the factors to consider before choosing an EMI card in India?

●     Financial Institution

Research on the internet for various financial institutions offering EMI cards in the country. Look for reputed institutions with a good track record, reviews, and ratings.

●     Eligibility Criteria

Check the criteria set by the financial institution for obtaining such a card. This includes age, income, employment status as well as creditworthiness.

●     Rate of Interest

EMI cards usually come with a rate of interest that applies to the monthly installment payments. So, compare these rates offered by different providers and choose the one that suits your financial plan. Keep in mind that low-interest rates can help you save a lot of money in the long run.

●     Credit Limit

Consider the limit offered by the EMI card. Like, as mentioned above, I availed the one offered by Bajaj Finserv, which provides a limit of Rs 2 lakh. This much is quite enough to cover intended purchases and expenses.

●     Repayment options

Understanding the repayment options available with the EMI card is essential. As a potential consumer, you need to check if there are flexible repayment tenures, prepayment options, etc., and any associated fees or penalties for early repayment.

How to get the best no cost EMI card in India?

To avail this card, you need not go anywhere, just download the Bajaj Finserv application, and you are good to go. Now, I’m telling you about this application as I personally have used it.

  1. Download the Bajaj Finserv application on your smartphone. It is available on the Play Store (Android) and App Store (iPhone).
  2. Once you log in, you’ll see the option for EMI Network Card under the ‘Products for you’ section on the homepage.
  3. Click on it and click on Get it now.
  4. Enter all the required details and proceed

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