Hello Readers ,In this post we are going to express our views on EMI Cards which offers consumers to buy products on Monthly Installments . Since Credit Card market has boomed by 300% in last 3-4 Years , EMI term has came into limelight .
As we know that Banks or Card issuers give Credit Cards to Salaried & Business Professionals only . So For students & other Freelancer people EMI Card is the easiest way to get consumer durable loans .
What is EMI Card ?
EMI Cards are just like Credit Cards but are accepted at very limited Outlets or Websites . You have to choose monthly payment option while making purchase .
You can use EMI Cards against purchase of Goods such as Electronics and on Flights bookings etc.
The purchase made through EMI Card needs to be paid on monthly basis & it can attract higher charges if you miss any repayments . So , EMI Cards are good only if you have regular flow of income .
1 . Bajaj Finserv Insta EMI Card :
Bajaj Finserv is one of the leading EMI Card for purchases of consumer goods online as well as offline .
|EMI Card Fee||INR 590|
|Processing Fee||INR 117 For Each Loan|
|Annual Fee||INR 117|
|Convenience Fee||INR 69 On Each Loan|
|Addon Card Fee||INR 199|
Steps To Apply For Bajaj Card :
- First of all , Visit Bajaj Finserv application portal from HERE
- Now , Enter your Mobile Number & verify it
- Enter details like PAN Card , Name , Age , Gender
- Now , It’ll show the credit limit that has been offered to you .
- After completing Personal details proceed to Digi locker KYC
- Now , Proceed to make INR 599 EMI Card Fee Payment
- At End , They’ll ask for activating E-Mandate ( NACH ) through your bank account
NOTE : First transaction on Bajaj Insta EMI Card can be done on offline outlets only which accepts Bajaj EMI Cards . Also, First transaction can be done only in your local city within 10KMs range .
Online transactions on Bajaj Insta EMI Card generally gets enabled after a month of doing offline transaction .
2. IDFC Easy Buy EMI Card :
IDFC Offers Easy Buy EMI Card for its customers to purchase consumer durable in convenient way . Its Easy Buy EMI Card can be used at few online merchants and various offline retailers .
|EMI Card Fee||INR 499|
|Processing Fees||As Applicable|
|Annual Charges||INR 99|
|EMI Bounce Charges||INR 400|
|Foreclosure Charges||5% Of Outstanding Amount|
Steps To Apply For IDFC Easy Buy EMI Card :
- Firstly , Visit IDFC’s Consumer Durable Loan Page From HERE
- After that verify your Mobile Number with OTP
- Enter all required details like PAN Number , Date Of Birth , Residential & Employment Details
- Now , Proceed to Documentation & Credit limit will be assigned you for shopping .
- You can use your IDFC Easy Buy EMI Card Online too .
Also Check : How To Foreclose ICICI Bank Credit Card EMI Online
3. Kotak Smart EMI Card :
Kotak Mahindra Bank offers EMI Card for its Offline Customers . One can use The Smart EMI Card to make purchases through various categories on Offline Partner Stores .
|EMI Card Fee||INR 499|
|Annual Fee||INR 299|
|Processing Fee||INR 99 To INR 2999|
|EMI Bounce Charges||INR 500 + GST|
|Foreclosure Charges||4% + GST|
Steps To Apply For Kotak Bank Smart EMI Card :
- Firstly , Visit any of the tie up stores
- Select the product that you wish to purchase and ask for the Kotak Smart EMI Schemes
- Take the necessary details from the store assistant , You can check eligibility criteria from HERE
- Complete the digital loan process and make the required amount for Down Payment
- An OTP will come to authenticate every future transactions on your Smart EMI Card .
Final Words :
So guys , In this post we have covered about Bajaj Finserv EMI Card , IDFC First Easy Buy EMI Card as well as Kotak Bank Smart EMI Card . In most of cases EMI Cards doesn’t require any higher Credit Scores and it proves to be a boon for Students and non-salaried people .