Typically, a Bajaj Finserv EMI Network Card grants you access to a pre-approved limit of ₹2 Lakhs. This amount is based on several factors, including your finances and your credit profile.
If you have exhausted your current limit or want to know how to increase the EMI Network Card limit, know that it occurs periodically. This is when the issuer conducts a credit review. Bajaj Finserv reviews your credit policy every quarter, and based on the assessment, your limit may change.
Read on to find out more and to learn all about how you can increase Bajaj Finserv EMI Card limit.
CIBIL score is provided by the Credit Information Bureau (India) Limited. It defines an individual’s creditworthiness. CIBIL score is a three-digit score ranging from 300 to 900.
This score provides an idea of whether you have the ability to repay the loan amount. The higher the CIBIL score, the greater the chances of increasing your EMI card limit.
Lenders consider your annual income to make sure that you can repay the EMIs on time. If you have a regular income, you can repay the EMIs on time. The higher your monthly income, the greater the amount lenders will lend.
The same applies to EMI cards. Your income influences the Bajaj Finserv EMI Network Card limit. If you have a higher monthly disposable income, you will probably keep up with the repayment commitments.
Ownership of your house is also considered because when you pay rent, a portion of your disposable income goes towards this. To lenders, it indicates a lesser EMI repayment commitment.
On the other hand, if you live in your own house, you can save up that portion of the money. This indicates you have more financial ability for prompt EMI payments.
You must be employed and have a regular source of income to repay the loan on time. A stable job and steady income will ensure that the EMIs are paid on time.
Your credit history with other lenders should be good. If you have made all the EMI payments on time, you will have a good repayment history. It is imperative that you should try to keep up with all dues.
You can visit Experia, the Bajaj customer portal, or the Bajaj Markets App to get more details about the Bajaj Finserv EMI Card limit increase. These portals also allow you to buy products online and in-store.
You can increase your credit limit whenever Bajaj Finserv revises its credit policy. However, your EMI card limit is influenced by your employment status, your CIBIL score, and your annual income.
Since your EMI Network Card loan limit will be reviewed quarterly, maintaining a good repayment history would be beneficial.
The maximum limit of the Bajaj Finserv EMI Network card is ₹2 Lakhs.
There is no minimum limit of the Bajaj Finserv EMI Network Card.
Yes, you may raise a request to increase Bajaj Finserv EMI Network Card limit.
Bajaj Finserv reviews your limit quarterly. So, your Bajaj Finserv EMI Network Card limit may increase every 3 months, based on your financial standing