Technological developments have made living more convenient and easy. With a large number of products and great deals, shopping has not only become irresistible but also easy, convenient and hassle-free. Like most people, you may also be relying on your credit card to pay for your purchases.
A credit card allows you to delay the payment on your shopping and may seem like a boon at first. However, new generation equated monthly installment (EMI) card commonly known as the EMI Card can provide several benefits that are not available with your credit card.
Let’s take a look at some of features of Credit and EMI cards:
Credit card EMIs
You may convert the payment of your purchase to an EMI using your credit card. This allows you to pay the entire amount over a period of time. However, the total amount paid increases because of the processing fees and finance charges levied by credit card companies.
These are primarily cards that come with a pre-sanctioned loan amount. You are allotted a certain pre-approved amount that may be used to make several purchases, such as electronics, home appliances, gadgets, and much more. The amount used to fund your purchase can be repaid in easy installments or EMIs. However, using this option for online shopping on EMI without credit card has one major advantage. Unlike a credit card, this type of card does not levy any interest charges while calculating the repayment amount. This helps you save money on your purchases, which may accumulate to a significant sum over the long-term.
Differences between EMI and credit card
|EMI Card||Credit Card|
|Finance charges||Interest-free EMIs after making the down payment||3% on usage and up to 40% in case you miss a payment|
|Pre-approved limit||INR 75,000||INR 57,000|
|Procedure||Quick and convenient; completed online||Requires several documents making it lengthy and cumbersome|
Bajaj Finserv EMI card
The Bajaj Finserv EMI card allows EMI shopping without a credit card. This card comes with a pre-approved amount of up to INR 4 lakh. Applying for the card is simple, quick and hassle-free. The application can be done either online or offline. You need to submit basic documents to receive instant approval without any delays or formalities.
Apply for the card in three simple steps:
- Visit our portal
- Online payment of the joining fee
- Get free home delivery of the card
Repaying for the amount spent on the Bajaj Finserv EMI card for shopping may be done in easy installments. You may opt for EMI tenure between three and 24 months based on your financial situation. Moreover, you may enjoy exclusive offers and deals from brands like LG and Samsung across the Bajaj Finserv EMI store with this card.
Choose the smarter option of paying for your purchases with an EMI card!
Get your Bajaj Finserv EMI card for online shopping today and pay for your purchases in easy interest-free installments.
“Finserv Markets, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!”