No modern home is complete without a washing machine. You probably won’t even remember a time when your home didn’t have one. However, seeing as they aren’t the cheapest of appliances, shelling out the entire cost of a washer at once will severely cut into your finances. This is why you should consider buying your washing machine on EMI.

This article will discuss the advantages offered by the BFL EMI card when used to buy a home appliance like a washing machine.

As easy as swiping

The EMI Card from Bajaj Finserv is offered both to customers who have availed a Durable and Lifestyle Finance and those looking for an easy source of finance for consumer durables purchase.
You can either apply for an EMI Card when you take out a Bajaj Consumer Loan, or, if you already have a loan, apply for it online through the Customer Portal login. Just keep certain documents like your credit documents, address proof, KYC documents, and a valid PAN card. Remember, if you’re a salaried professional applying for an EMI card, you need to be in the age bracket of 21-60 years.

Once approved, you’ll get your card after your first three EMI payments, or within 7-10 working days if you’ve applied online.

Here are some of the benefits offered by an EMI Card, which will make all your expensive purchases go through smoothly.

Pre-approved loan

The EMI card is essentially a pre-approved loan that has been loaded on a card for your convenience. So when you go to buy your washing machine, the payment is instantly processed.
So you get all the benefits of a loan like equated monthly installments, without the hassles of extensive paperwork and awaiting approval.

Online payment and tracking

Once you buy washing machine online on EMI, you can pay your EMI card off online through the Bajaj Finserv website. You can even track your payment schedule, details about your interest rates, and how you’re choosing to repay the loan online at the company’s website as well.

The EMI card advantage

When you buy washing machine online, shopping EMI, you can spread out the expense over several months. If you use a debit card instead, you’d have to pay the lump sum of your purchase at once, which would be a major financial crutch.

But how is the EMI Card different from a credit card? Well, the EMI Card has a pre-approved loan loaded on it, whereas with a credit card you take credit from your financier when you make the purchase. You’d still have to pay the entire amount you took on credit at once, with added interest when the monthly bill arrives. With an EMI Card, you only repay the amount you have spent on the lifestyle purchase, that too via manageable installments every month.

The EMI Card makes your washing machine and other such consumer durables purchase a breeze. So if you’re behind on your laundry, obtain your EMI card from Bajaj Finserv right away and get washing!

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