Paytm Mall No Cost EMI on Bajaj Finserv EMI Network Card

Owned and operated by One97 Communications, which is also the parent company to Paytm, Paytm Mall is one of the leading online marketplaces in India. The online store sells a large variety of products including Smart TVs, 4K Ultra HD TVs, Amazon Fire TV sticks, home theaters, air purifiers, refrigerators, air conditioners, home theaters and more. Paytm Mall also provides no cost EMI shopping to customers using the Bajaj Finserv EMI Network Card.

When you apply for Bajaj Finserv EMI Network Card, you get a pre-approved loan that you can use to buy products at No Cost EMIs at online stores such as Paytm Mall and across 80,000 retail outlets in India. Unlike a credit card where interest is levied after the grace period is over, a Bajaj Finserv EMI Network card is interest-free. You don’t have to pay anything extra apart from EMIs or installments that equal the total cost of the product.

For example, if you bought a Smart TV costing Rs. 36,000 and decided to pay in 12 installments, you will have to pay just Rs. 3,000 per month as EMI. Nothing extra is charged by Bajaj Finserv except a nominal fee you pay when you apply for a Bajaj Finserv EMI Network Card.

The Bajaj Finserv EMI Network card can be used for no cost EMI shopping at select leading online websites and stores such as Amazon, Flipkart, Paytm Mall, MakeMyTrip, Yatra, Samsung and Vivo.

• Interest charges

When you head over to Bajaj Finserv EMI Network card apply process, you get a pre-approved loan ranging from Rs. 30,000-400,000 on applying for the Bajaj Finserv EMI Network card. No interest is charged on the loan. Whereas when you purchase with a credit card, you need to pay interests for payments made after the grace period of 45-50 days. You not only pay applicable rate of interest on the loan based on tenure, you also need to pay extra processing charges to convert a purchase into EMIs.

• Tenure

While some banks and NBFCs offer no cost EMIs, they put a limit on the tenure. The lender, and not the customer, decides the tenure of the loan, when it comes to no cost EMIs. But with the Bajaj Finserv EMI Network card, customers have the flexibility to decide the tenure according to their convenience which ranges from 3-24 months.

• Foreclosure charges

Almost all banks and NBFCs charge extra for foreclosing a loan prematurely. If you buy a 4K Ultra HD TV this Diwali using your credit card and convert the purchase into EMIs, you will be better off continuing with the EMIs rather than foreclosing it because it’ll cost you 1-3% extra. However, with an EMI card you don’t have to pay anything for foreclosing the loan after six months.