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Getting a smartphone, fitness equipment, laptops and other such products, can strain your budget as they are expensive. This may lead you to compromise on the features you want or stretch your budget to fit the cost. 

 

Financing options like the Bajaj Finserv EMI Network Card, let you convert your expensive purchases into EMIs, making them more affordable. It eliminates the need to pay in lump sums and the no-cost EMI facility helps you avoid additional interest charges. 


If you have this EMI card or are planning to get one, knowing what no-cost EMI is and how to utilise this facility is essential.

How Does a No-cost EMI Work

In regular EMIs, the issuer will charge interest until you pay all the instalments. This adds to the cost, which makes the product or service more expensive in the long run. On the other hand, no-cost EMI is a type of payment plan that enables you to pay for a product or service in affordable instalments without any interest. 

 

Simply put, you need to pay the actual cost of the product or service. Consider this example to better understand how no-cost EMI works:

  • You buy a product worth ₹45,000

  • You choose a tenor of 9 months

  • The EMI amount will be ₹5,000 (₹45,000/9)

 

If you had chosen the regular EMI option, the interest amount will be added to ₹45,000 and then the total will be paid in instalments. So, you will be paying more than the original cost.

 

Note: The total incurred amount may vary if other costs and fees are applicable.

Why Choose the Bajaj Finserv Insta EMI Card for the No-cost EMI Facility

With this card, you get a limit of up to ₹3 Lakhs, which allows you to make multiple purchases on EMI without any hassles. Here are some other benefits of using the card: 

  • You can purchase a wide range of products easily from any of the 1.5 lakh partner stores 

  • You do not need to pay any interest or extra charges to convert the product’s cost into EMIs

  • You can benefit from discounts and EMI offers while purchasing products with this card

  • You may be eligible to convert the entire cost of the product into EMIs without making any down payment 

  • You enjoy the flexibility of choosing a repayment tenor of up to 60 months that matches your preferences

  • You do not need to pay any foreclosure charges in case you choose to repay the entire cost of the product early

How to Shop using the No-cost EMI Facility at Bajaj Finserv Partner Stores

Now that you know what a zero-cost EMI is, know how how you can buy products you like: 

  1. Visit any Bajaj Finserv partner store near you

  2. Explore and select the product you want to buy 

  3. Select the card as the payment option

  4. Check the EMI options available and choose card as the payments 

  5. Share the details of your card with the cashier for verification

  6. Authenticate the transaction with the OTP sent to your registered number

Frequently Asked Questions

How can I use EMI without cost?

With the Bajaj Finserv EMI Network Card, you can enjoy no-cost EMIs when making payments at partner stores. The pre-approved loan of up to ₹3 Lakhs enables you to purchase products of your choice. You can even enjoy low or no down payment requirements.

Is it possible to change my EMI plan after the transaction?

No. You cannot change your EMI plans after the transaction is complete.

What is a no-cost EMI, and how does it work?

The meaning of a no-cost EMI is simple - there is no interest charged over and above the cost of a product. As a result, you pay only the actual cost of the product in monthly instalments of your choice.

What is the benefit of a no-cost EMI?

One major advantage of this facility is that you can buy high-value products in instalments without any interest. Institutions generally charge interest for EMI facilities. As a result, the no-cost EMI option enables you to pay only the actual cost of the item you buy.

What is an example of a no-cost EMI?

Here is an example to help you better understand the no-cost EMI facility available through the Bajaj Finserv EMI Network Card. Suppose you want to purchase the latest smartphone that costs ₹60,000 through an EMI payment plan. If you choose a tenor of 12 months, the instalment amount would be ₹5,000 (₹60,000 divided by 12). 

Is no-cost EMI a good option?

Yes, the Bajaj Finserv no-cost EMI facility is a great option. This is because the issuer does not levy any interest charge and you can pay for the product in manageable instalments. The facility becomes an even better option for big-ticket purchases as the interest on it can be higher.

Is no-cost EMI preferable to a regular EMI?

Yes, as it allows you to pay in instalments without interest charges. This helps you save more as compared to the standard EMIs, where interest charges increase the overall cost of the product or service.

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