Everything You Should Know About EMI Without Credit Card
There are many occasions in life when we don’t have enough funds to buy our desired products. Most of us are salaried individuals and have a strict budget to follow in the month.
In the same context, your budget may not allow you to shop for your desires. Even if you do, you may find it tough to manage other monthly expenses.
Thus, should you keep waiting till the time you have saved enough to buy it? Not anymore, you can shop for your favourite products on EMI without credit cards.
Bajaj Finserv EMI Network presents a unique facility to help you shop on No Cost EMIs. And yes, you don’t need to have a credit card to buy anything on No Cost EMI.
Amazed? Don’t be; go through this post to know how you can buy anything on EMI without credit card.
What is a No Cost EMI facility?
As the name suggests, the No Cost EMI facility is a unique method that will help you buy all your favourite products on EMI. The biggest benefit of purchasing anything on No Cost EMI is that you won’t have to pay anything extra.
As a result, you can simply divide the cost of the purchased product into EMIs and repay over a flexible tenor. Let’s make this clear with an example!
Example – Suppose you buy a Xiaomi Redmi 5 smartphone using your credit card on EMI whose price is Rs.9,000. You availed an EMI of 3 months which will be Rs.3,000 per month including the interest charges of Rs.1,170 at 13%.
Hence, your final EMI amount for the next 3 months will be Rs. 3,000 + 390 = Rs.3,390. You will need to pay extra Rs.390 per month x 3 = Rs. 1,170 as the credit card interest charges, which will ultimately increase the final price of the smartphone.
As a result, you won’t be able to enjoy any savings and instead end up paying more for a purchased product.
On the other hand, if you purchase the mobile phone using the No Cost EMI on the Bajaj Finserv EMI Network, you only need to pay Rs.3,000 for 3 months.
You can just divide the cost of the mobile phone over a tenor of 3 months, and pay only the fixed EMI of Rs.3,000. Hence, you won’t need to pay anything extra.
This way, you will be able to save on the extra amount that you would have paid on a credit card EMI payment as discussed.
Hence, buying anything on No Cost EMI will not only help you pay in EMIs but even save huge without making additional payments.
What is Bajaj Finserv EMI Network?
Bajaj Finserv EMI Network is a payment system that enables anyone to shop and pay for his/her purchases on the No Cost EMI.
Be it electronics, furniture, life care, groceries and others; you can shop on No Cost EMI for 1 million+ products only on the Bajaj Finserv EMI Network.
Hence, whatever may be your aspirations, you can grab all on No Cost EMI on the Bajaj Finserv EMI Network.
How to shop on EMI without credit card?
With Bajaj Finserv EMI Network here to help you shop on No Cost EMI without credit card, you need not have a credit card to break the cost of a product into a tenor.
There are two methods on how you can shop at No Cost EMI; have a look:
- You can visit one of the 60,000+ local outlets available in 1300+ cities in India across the Bajaj Finserv EMI Network. You can select your desired product, swipe your EMI Network Card, and take home your purchased products.
- You can also shop on No Cost EMI at a partner store even if you don’t have an EMI Network Card. All that you have to do is submit your KYC documents along with a cancelled cheque at an outlet.
Benefits of shopping using the Bajaj Finserv EMI Network Card
Other than just enjoying the No Cost EMI facility, shopping via the Bajaj Finserv EMI Network Card gives you many more benefits. Have a look:
- Pre-approved loans of up to Rs.4 lakh
The Bajaj Finserv EMI Network Card is loaded with a pre-approved loan amount of up to Rs.4 lakh. With such a huge amount already made available, you can shop limitless and pay in EMIs.
- Flexible tenor to repay
You get a flexible repayment tenor ranging from 3-24 months to divide the cost of a purchased product into a tenor as per your repayment capacity.
- Easy documentation
You only need to submit your KYC and income details to subscribe to the Bajaj Finserv EMI Network Card without hassles.
- Nil foreclosure charges
At any point during the tenor of your EMI, if you wish to foreclose the loan account, you are free to do that. You need not pay any charges to foreclose the loan account.
Do you have some other financial needs? Bajaj Finserv offers some pre-approved offers on many financial products like personal loans, home loans and more. These offers are created to make the loan application and processing hassle-free.
You can discover your pre-approved online loan offers by sharing your basic details such as name, and mobile number.