Fees and Charges of the Bajaj Finserv EMI Network Card

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Fees and Charges of the Bajaj Finserv EMI Network Card

There are certain Bajaj Finserv EMI Network Card charges and fees that you should be aware of before using the card to make eligible purchases. These fees include the Bajaj Finserv EMI Network Card’s annual charges, convenience fees, add-on card fees, mandate registration charges, loan encashment fees, cheque bounce charges/NACH, processing fees and more.

In addition to these costs, other Bajaj Finserv EMI Network Card charges and fees may be applicable based on your card usage. These costs include mandate rejection charges, penal interest and statement/document charges.

Note: These charges are applicable on both the Bajaj Finserv Insta EMI Card, which is available online, and the Bajaj Finserv EMI Network Card, which you can apply for offline as well.

What are the Fees Applicable for the Bajaj Finserv EMI Network Card

The Bajaj Finserv EMI Network Card fees and the Bajaj Finserv Insta EMI Card charges are listed and explained below:

Types of Charges by Bajaj	Bajaj Finserv EMI Network Card	Bajaj Finserv Insta EMI Card
EMI Network Card Fee	₹530 (inclusive of taxes)	₹530 (inclusive of taxes)
Add-On Card Fee	₹199 (inclusive of taxes)	₹199 (inclusive of taxes)
EMI Card Convenience Fee	₹99 (inclusive of taxes, added in the 1st EMI)	₹99 (inclusive of taxes, added in the 1st EMI)
EMI Card Annual Fee	₹117 (inclusive of taxes, applicable when no loan is availed on the EMI Network Card for a year)	₹117 (inclusive of taxes, applicable when no loan is availed on the EMI Network Card for a year)
EMI Card Mandate Registration Charges	₹118 (inclusive of taxes)	₹118 (inclusive of taxes)
EMI Card Mandate Rejection Charges	₹450 (inclusive of taxes, applicable when a new mandate is not registered within 30 days of the date of the last mandate rejection by the bank)	₹450 (inclusive of taxes, applicable when a new mandate is not registered within 30 days of the date of the last mandate rejection by the bank)
EMI Card Loan Enhancement Fees	₹99 (inclusive of taxes) (added in the 1st EMI)	₹99 (inclusive of taxes) (added in the 1st EMI)
NACH/ Cheque Bounce Charges for EMI Card	₹450 (inclusive of taxes)	₹450 (inclusive of taxes)
Penal Interest on EMI Network Card	4% on the EMI amount from the date of default to the date of payment	4% on the EMI amount from the date of default to the date of payment
EMI Network Card Processing Fee	Nil to ₹1,078	Nil to ₹1,078
Document charges for EMI Card	No charges for the online download of documents ₹50 per physical copy collected at branch offices	No charges for the online download of documents ₹50 per physical copy collected at branch offices
CIBIL TransUnion Report Fees for EMI Card	₹36 to ₹46 (inclusive of taxes)	₹36 to ₹46 (inclusive of taxes)

1) Bajaj Finserv EMI Network Card Fee

The Bajaj Finserv EMI Network Card fee is a one-time fee that is levied when you apply for an Insta EMI Card online or an EMI Network Card offline. Also known as the joining fee or the instant activation fee, this is a mandatory cost that needs to be paid so you can activate the card and use the pre-approved loan amount to make eligible purchases.

2) Annual Charges for the Bajaj Finserv EMI Network Card

These charges, also known as card renewal fees, are levied if your Bajaj Finserv EMI Network Card has been inactive for a period of 12 months from the previous year’s validity month. You can find the details of the validity month on the front of your EMI Card.

For example, say you have been a Bajaj Finserv EMI Network Card member since December 2021, and you make no transactions for a year. So, the Bajaj Finserv EMI Network Card annual charges will be payable after 12 months, in January 2023.

3) Processing Fee for the Bajaj Finserv EMI Network Card

The processing fee levied for the Bajaj Finserv EMI Network Card varies for different items such as appliances, electronics, fitness equipment, medical treatments, travel costs, sports goods and more. While most products and services do not come with a processing fee, you may be charged a nominal amount for select items. This will vary based on the product, scheme, and dealer, from zero to ₹1,078.

4) EMI Card Mandate Registration Charges

These are the charges for registering an e-mandate on your Bajaj Finserv EMI Network Card or your Bajaj Finserv Insta EMI Card. E-mandate registration is the last step of the EMI card application process, where you are required to enter your bank details and complete verification with an OTP.

E-mandate registration charges are applicable for various banks such as:

Bank of Maharashtra
United Bank of India
Indian Overseas Bank
Karnataka Bank Ltd.
Development Credit Bank Ltd.
Punjab and Sind Bank
UCO Bank
IDFC Bank
Tamilnad Mercantile Bank Ltd.
Rajkot Nagarik Sahakari Bank Ltd.

5) EMI Card Mandate Rejection Charges

If any mandate that you try to register is rejected by your bank, you must register a new mandate. In case you fail to do so within 30 days of the previous rejection, mandate rejection charges will be levied.

6) EMI Network Add-On Card Fee

This Bajaj Finserv EMI Network Card fee is levied for any add-on cards that you may apply for. This fee is over and above the charges levied for the primary EMI Network Card.

7) NACH or Cheque Bounce Charges for the EMI Network Card

Also known as the ECS Return Fee, the NACH or Cheque Bounce charge is levied if the payment on your EMI amount fails due to reasons like insufficient funds or bank rejection.

8) Convenience Fee on the EMI Network Card

A convenience fee is levied to give you the benefit of converting the total payable amount into easy EMIs at the POS (point of sale) using the Bajaj Finserv EMI Network Card.

9) Penal Interest on EMI Network Card

This interest is applicable if you fail to pay the required EMI amount by the due date. It is levied from the date of payment default to the time the instalment is cleared in full.

10) Document Charges for the Bajaj Finserv EMI Network Card

Documents like your account statement, repayment schedule, no dues certificate, foreclosure letter and interest certificate can be easily downloaded from the Bajaj Finserv customer portal free of charge. However, for physical copies of the above-mentioned documents, you will have to pay ₹50 per document at the branch office.

Apply for a Bajaj Finserv EMI Network Card Today

The details outlined above should give you a clear idea of the Bajaj Finserv EMI Network Card charges and fees that you need to be aware of before applying for the card. What’s more, you can apply for your Bajaj Finserv EMI Network Card online or offline by opting for in-store financing at Bajaj Finserv partner stores.

Once you receive your card, ensure that you pay all the Bajaj Finserv EMI Network Card fees as and when they are due, so you can continue enjoying the benefits of a high pre-approved loan and No Cost EMIs on eligible purchases.

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Frequently Asked Questions (FAQs)

The processing fees for the Bajaj Finserv EMI Network Card can vary from zero to ₹1,078. It depends on the product, scheme and dealer.

The joining fee for the Bajaj Finserv EMI Network Card is ₹530. It is the same for the Bajaj Finserv Insta EMI Card as well. Do note that the joining fee or the card activation fee is a one-time fee only.

Yes, the processing fee on the Bajaj Finserv EMI Network Card may be levied according to the type of product or service purchased. While most purchases do not come with a processing fee, you may be charged a nominal amount for select items. This will vary based on the product, scheme, and dealer.

The annual fee levied for the Bajaj Finserv EMI Network Card is ₹117. It is charged when you fail to avail of a loan on the card for 12 months (starting from the validity month of the previous year). You can find the validity month printed on the face of your Bajaj Finserv EMI Network Card.

There is no interest levied on No Cost EMIs availed of using the Bajaj Finserv EMI Network Card. However, penal interest may be levied if you fail to pay the required EMI amount by the due date. This interest is levied from the date of payment default to the time the instalment is cleared in full.

To pay the EMIs due on the Bajaj Finserv EMI Network Card, you need to log into the customer portal with your credentials, click on ‘Quick Pay’ and select the ‘Online Payment’ option. Then, choose the ‘EMI & overdue payments’ option and click on LAN to complete the payment.