Zero-cost EMI, or no-cost EMI, means that if you purchase an item on credit, you are not required to pay additional interest on the principal. As a result, you end up paying only the actual price of the product in easy EMIs at no added cost whatsoever.
Unlike regular EMI, no-cost EMI does not come with an interest factor. So, if you borrow ₹24,000 on your card to buy furniture on EMI, you repay only ₹24,000. This is irrespective of whether you go for a 3-month, 6-month, 12-month, or 24-month repayment tenor.
For example, if you opt to buy a laptop or mobile on no-cost EMI, you will need to select the ‘No-Cost EMI’ option at the payment gateway along with the payment (credit card) details, and the repayment tenor. Once you authenticate the payment, only the exact cost of the product would be deducted from your card. From the next month onwards, when you start paying the EMI for the purchase, you would not incur any additional interest charges on the amount borrowed.
If you are wondering whether you should consider no cost EMI for your future purchases, you can take a look at this list of benefits to help you make your mind:
No-cost EMI can be availed using an EMI card such as Bajaj Finserv EMI Network Card.
You can purchase big-ticket items conveniently and affordably.
No interest is charged on the borrowed amount.
No-cost EMI is a popular payment plan and is available both online and offline.
The Bajaj Finserv No-Cost EMI is an alternate payment option to the traditional credit card that you can avail using your Bajaj Finserv EMI Network card. It lets you save more when you purchase products on EMI. This is because when you use the no-cost EMI feature of the Bajaj Finserv EMI Network card, you convert the cost of purchasing items using the pre-approved loan into zero-cost EMIs. As a result, you end up not having to pay anything over the actual product cost.
What makes it even more exciting is that the card also comes with over 1,000 exclusive offers and incurs zero foreclosure charges. In addition, you also have the option of customising the repayment tenor on the Bajaj Customer Portal.
The no-cost EMI with the Bajaj Finserv EMI Network card and Insta EMI Card can be used on online portals and e-commerce websites such as Amazon, MakeMyTrip, Flipkart, Oppo, OnePlus, MI, Goibibo, etc. It is also compatible with over 1,2 lakh Bajaj Finserv partner stores across 2,900+ cities. You can use the pre-approved loan of up to ₹4 lakh (₹2 lakh for Insta EMI card) to shop seamlessly. Simply browse through the catalogue of over 1.2 million products and get the items you like best on EMI without a credit card.
If you wish to avail these benefits too, you can apply for a Bajaj Finserv Insta EMI Card through the 100% digital process in three quick easy steps on the Bajaj MARKETS website/ app. If you are at a partner store, you can apply for a Bajaj Finserv EMI Network Card easily at the checkout counter by submitting minimal documentation.
You can buy furniture on EMI to spruce up your home without paying any additional charges using the Bajaj Finserv EMI Network Card. Choose from sofas, beds, bookshelves, shoe racks, and more., from popular partner stores such as Hometown, Pepperfry and @ home by Nilkamal.
Buy the latest laptop from HP, Asus, Dell, Lenovo, Macbook on EMI, etc., while also protecting your savings. All you need to do is use the Bajaj Finserv EMI Network Card and enjoy no cost EMI on Amazon, no cost EMI on Flipkart, etc., and get your favourite laptop seamlessly.
Get an Oppo on EMI, Realme on EMI, Vivo on EMI, Mi on EMI, OnePlus on EMI and more, using the Bajaj Finserv EMI Network. All these partner stores allow you to purchase phones at no cost EMI when you use the EMI Network card for purchases.
Want to get the latest TV for your home but don’t have the funds for it? Simply use the Bajaj Finserv EMI Network Card to buy a TV on EMI and enjoy your favourite movies and shows at home.
You can buy flight tickets on EMI too using the Bajaj Finserv EMI Network Card. The card is applicable on partner stores and lets you buy tickets from Goibibo on No Cost EMI, MakeMyTrip on No Cost EMI, etc.
Top Product Categories to Shop on No Cost EMI
EMI without cost is an advantage you can avail when you use your Bajaj Finserv EMI Network Card at the time of payment at partner stores online and offline. The pre-approved loan of up to ₹4 lakh (₹2 lakh for Insta EMI card) on the card lets you buy the products of your choice. You are not charged any additional cost on your EMIs throughout your preferred repayment tenure.
No. Unfortunately, you cannot change your EMI plans post transaction.
No-cost EMI means that there is no interest charged over and above the principal cost of purchasing a product. As a result, the interest value that would have been charged on the product is deducted from the actual cost of the product.
The No-Cost EMI option is ideal for purchasing high-value products without having to pay extra interest costs on top of the regular EMIs. As a result, unlike other forms of credit, the EMI card lets you pay only the actual cost of the item you buy.
To understand what no-cost EMI means, here is an example. Imagine purchasing the latest iPhone on EMI, costing ₹1,20,000, using your Bajaj Finserv EMI Network Card. If the repayment tenure chosen is 12 months, you will only have to pay ₹10,000 every month (₹1,20,000 divided by 12) for the next year. As the card comes pre-equipped with the no-cost EMI feature, no interest charges will be levied on the ₹1,20,000 borrowed.
If you do not wish to spend additional money as interest charges on your borrowed funds, no-cost EMI is a great option, especially when you are making big-ticket purchases.