The internet and online retail have transformed how we shop. And no-cost EMI cards are transforming how we pay!

Today, you do not need to walk or drive down to the store. Why would you?

The store is right there on your mobile or your computer. You can access it anytime and anywhere. Besides, the number of products available boggles the mind. How can you not keep shopping?

Yet, shopping does run up big bills. Pay by cash and you deplete your bank balance. Pay by credit card and the dues pile up.

One smart way to shop today is by availing equated monthly instalment (EMI) plans. But, there is an even smarter way to shop: the no-cost EMI using the EMI card.

Shopping on EMI

In the old days, you postponed big purchases until you had the funds. Say, you needed an air-conditioner worth Rs 30,000 in May. But you had only Rs 16,000 to spare that month. There was nothing to do but sweat through the summer, until you collected the other Rs 14,000.

The rise of EMIs changed this. You could buy the air-conditioner in May, when you needed it. You simply repaid the amount in fixed instalments.

But an air-conditioner bought on EMI would typically cost a little more. Lender banks charge interest on the loaned amount. This interest rate commonly ranges between 12% and 15%. There may also be a processing fee on the transaction. These charges push up the cost of the air-conditioner. Instead of the affordable Rs 30,000, you ultimately end up paying a lot more!

Shopping on no-cost EMI

Can you eliminate this extra cost? You can, if you have an EMI card from Bajaj Finserv. You can then shop on no-cost EMI.

Now, a no-cost EMI actually comes with absolutely no hidden charges. The EMI card gives you a loan with which to shop.

Suppose you want to buy an air-conditioner available for Rs 30,000. Under a no-cost EMI plan, you pay only Rs 30,000. If the loan tenure is of six months, you pay six monthly instalments of Rs 5,000 each. And that’s it! Your dream air-conditioner is yours at no extra charges or interest!

To know more about how it works, head over to Flipkart on ‘No Cost EMI Day’ this week. You can shop for no-cost EMI products if you have the EMI card. Here are some product categories available under the deal.

Five Categories of no-cost EMI Products

  1. Mobile phones: Need a new smartphone to use for more shopping? There are several good buys here. Check out the modular LG G5 or the Apple iPhone 6S Plus.
  2. Television sets: The price tags on flat-screen LED TV can be scary. But a no-cost EMI plan may be easier on your pocket. On offer are big brands like Samsung, Panasonic, and Sony.
  3. Air-conditioners: Prepare for next summer with brand new split and window ACs. The brands include Blue Star and Voltas, among others.
  4. Washing machines: The humble washing machine has made doing the laundry so simple. Is your old one due for a change? You could look at both fully automatic and semi-automatic options. IFB, Haier, and LG are just some of the available brands.
  5. Kitchen appliances: Update your kitchen with air-fryers, dishwashers, and chimneys. Just remember the no-cost EMI scheme applies only to products priced Rs 10,000 and above.

None of the above product categories comes cheap. That is why a no-cost EMI option seems like such a bargain. Moreover, EMI cardholders get a little gift on each successful transaction. They receive a 25% discount voucher from Jabong. And that makes the no-cost EMI deals all the more fun!

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