What is a No Cost EMI?

Getting a smartphone, fitness equipment, and other such high-cost products, can strain your budget. Paying a lump sum upfront may mean that you end up compromising on the model or delay your purchase. 

Avoid both these scenarios and make big-ticket purchases more pocket-friendly with easy EMIs. This facility allows you to spread out the cost of your purchase across a flexible tenor without paying added interest charges. 

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

In the case of regular EMIs, the issuer charges interest until you pay all the instalments. This increases the cost of the product or service in the long run. Easy or zero-cost EMIs help you pay for a product or service in affordable instalments without any interest. 

Consider this example to understand better how easy 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)

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

Opting for the easy EMI option is enticing because it allows you to make big-ticket purchases without financial strain. However, you must consider these factors before you select this payment method:

• Assess your finances and ensure that the monthly EMI payments fit comfortably within your budget 

• Confirm the interest-free period of the EMI option to avoid the regular interest rates that may apply

• Check whether the easy EMI option is available on the exact product you want to purchase

• Verify whether opting for the EMI will affect your credit score, as it involves a financial commitment

• Check if the EMI scheme allows for prepayment without penalties, giving you the option to clear your debt ahead of time

This facility provides a simplified and convenient way to get immediate financing. Check out some of the advantages of easy EMIs:

• Spread the cost of your purchase into easy monthly payments with no additional interest 

• Enjoy zero down payment on select products, meaning no upfront costs at the time of purchase 

• Available on a wide range of products, from electronics to appliances, and more 

• Flexible repayment tenors let you choose a plan that suits your budget

• No hidden fees or charges, ensuring a transparent payment experience

• Shop at numerous partner stores or online platforms offering easy EMI options

• Convert large expenses into manageable instalments, easing financial pressure

• Easily track your payments and remaining balance through the Bajaj Finserv App

While they may seem similar, both EMI options differ in certain aspects. The following table helps understand the differentiating points:

This card provides a limit of up to ₹3 Lakhs to help you make multiple purchases on EMI without any hassles. Here are some other benefits of using the card: 

• Purchase a wide range of products easily from any of the 1.5 lakh partner stores 

• Avoid paying any interest to convert the product’s cost into EMIs

• Benefit from discounts and EMI offers while purchasing products with this card

• Avoid paying any down payment depending on your purchase

• Get a repayment tenor of up to 60 months as per your needs

• Avoid foreclosure charges if you want to repay the entire cost of the product early

Follow these steps to buy the products you want on easy EMIs: 

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 the one that fits your needs 

5. Share your card details with the cashier for verification

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