Find out more about the EMI on your Bajaj Finserv EMI Card
When their daughter Nidhi first decided to follow her passion and become a freelance photographer, her parents were really worried. They had no doubt in her ability or skill. What worried them was the recurring expense that she would incur on a regular basis owing to the fact that she would need new and updated equipment on the go. And how would she be able to support herself with an assignment-based job that may not give her a stable income?
That is when Nidhi introduced her parents to the Bajaj Finserv EMI Card. She explained that EMI or Equated Monthly Instalments provided her a way through which she could buy all she needed instantly and pay for her purchases later in easy EMIs, in a tenure of her choosing. Whether it was her camera equipment or clothes, a high-end laptop or a smartphone, an AC or a washing machine, life care needs such as dentistry or eye care as well as domestic and international travel, Nidhi could use the EMI Card for everything. But Nidhi’s parents were still worried; after all, EMIs usually incurred interest charges and what about high down payments?
Nidhi did some more research and found that the Bajaj Finserv EMI Card charged no interest and usually did not require down payments, except in a few cases such as with purchasing a gym membership or paying for a travel plan. The EMI tenures usually varied from 3 to 12 months, depending on the retailer from whom Nidhi made her purchase. The idea of Nidhi paying no extra interest in contrast to a credit card made per parents feel more comfortable with the EMI Card. Their next question was how limited the EMI Card was when it came to where she could purchase from. Since Nidhi would be travelling all over India for her photography, they were not only concerned about how she would be able to access the retailers with a tie-up to the EMI Card, but also how she could pay her EMIs while being on the move.
Nidhi assured them that the Bajaj Finserv EMI Network was one of the largest in the country with over 30,000 retailers offering over 1 million products across more than 300 cities in India. And the best part was that she could shop online at some of the most well known e-tailers and pay her EMIs online via the Bajaj Finserv EMI portal. She could also link her account and make auto debit payments towards her purchases.
Anticipating her parent’s next question, Nidhi told them about the easy application and instant approval of the EMI Card. The exact loan amount that Nidhi would be given would be decided based on Bajaj Finserv’s credit policies and would go from Rs 30,000 up to Rs 3 lakh. Nidhi would spend a minimal amount of Rs 399 to get the EMI Card and a renewal fee of Rs 99, which was due only if she didn’t end up using her EMI Card for 1 year. To get the card, Nidhi could walk into any partner retail store, buy a product and submit a few documents such as an ECS (Electronic Clearing Service, which directly debits yours funds to your account), a cancelled cheque, KYC documents and a passport size photograph.
Once she applied, the Bajaj Finserv EMI Card would be with her in 2 weeks and she would not need to submit any more documents once she had the card in her possession. Even online transactions would not incur any processing fees or charges. From then on, her EMI Card could be swiped like a debit card at any retailer—offline or online.
Though they were very satisfied with the information on the EMI Card so far, her parent’s last question was also very valid: What were the charges if Nidhi could pay for her purchases earlier than the agreed-upon tenure. Nidhi logged on to the Bajaj Finserv EMI Card page and found that she had the option of foreclosing her loan at any time with paying any extra charges.
Now that all their worries about the EMI dues and payments were put to rest, not only did Nidhi’s parents encourage her to sign for the card, but also applied for one when they bought new furniture for their house! Soon, Nidhi moved from Ranchi, leaving her parents’ home, to Mumbai to pursue her photography and spread her wings. Not only was she able to buy new equipment for her chosen career and furnish her home with the EMI Card, but
as a member of the EMI Network, she was also privy to exclusive pre-approved offers across the partner retailers of Bajaj Finserv. Her online account helped her keep up with all her purchases over time and the amount due so that she was always informed.
Today, Nidhi is on her way to becoming a successful photographer, and her parents are rest assured about her finances. Like Nidhi, you too can start using the EMI Card to buy everything you need in a cashless manner, and take advance of not paying a penny more on the price of any product while being able to pay in easy EMIs over time.
click here: to know more about Bajaj Finserv EMI Card.
If you are an existing customer, you can apply for an EMI Card by visiting our customer portal. You can also apply for one when you visit a partner store to purchase your favourite lifestyle or consumer durable products.