Credit cards and EMI cards are not interchangeable. They differ in terms of the application process, the paperwork process, the interest rates charged, the costs associated with foreclosure, and the eligibility requirements.
EMI cards are simple and convenient payment options. Compared to credit cards, they offer easier eligibility requirements. Since they don’t charge any interest or foreclosure fees, they do let you buy things for no money down payments.
One of the largest online merchants of consumer goods, Flipkart offers items including electronics, furniture, clothing, and more. The EMI card can be used to pay for any expensive purchases you want to make. You can make credit purchases on Flipkart and pay back the money in set installments over a predefined period thanks to the no-cost EMI feature, which offers equivalent monthly installments.
Top 3 Reasons to Use Insta EMI Card While Shopping from Flipkart
- Application Process and Documents Required
Anyone between the ages of 23 and 60 who has a stable source of income is eligible to apply for a Bajaj Finserv Insta EMI Card. You must be at least 18 years old, have a steady source of income, a decent credit score, and in some situations, a savings account or fixed deposit to be eligible to use a credit card. Bajaj Finserv Insta EMI Card can be applied for without any supporting documents.
Online applications for one are simple. You only need to present your Aadhaar card, PAN card, a voided check, a passport-size photo, and a legally signed ECS mandate if you decide to apply for the Bajaj Finserv Insta EMI Card offline at any of the partner locations.
On the other hand, in order to be approved for a credit card, you must also submit a signed ECS mandate, proof of salary, proof of age, bills and receipts, financial transactions to demonstrate a solid credit history, an Aadhaar card, a PAN card, a cancelled check, a passport-size photo, and your passport.
- Interest Rate
The Bajaj Finserv Insta EMI Card doesn’t charge interest on purchases like credit cards do. Therefore, you don’t have to pay interest; you just pay the cost of the item you bought in installments. The Bajaj Finserv Insta EMI Card fees are reasonable, and the No-Cost EMI feature enables you to make financial savings on your purchases.
Purchases made using credit cards are subject to high-interest charges. There is a required minimum payment that must be made each month, and on top of the balance you owe from your purchases, this payment also adds interest. This requirement suggests that you must continue making payments until your credit card is cancelled or you cease using it, whichever comes first.
- No Foreclosure charges
If you have a Bajaj Finserv Insta EMI Card, you can easily and without any additional fees foreclose the credit amount on your card after paying the first EMI. If you pay off your credit card debt before the due date, you will incur a foreclosure fee of about 3%.
We may conclude that a credit card and the Bajaj Finserv Insta EMI Card are very dissimilar. So, go ahead and apply for a Bajaj Finance Insta EMI Card if you’re seeking a financial payment method that will allow you to, among other things, afford the newest technology and equipment.
Once you have the card, you can use it to shop at any online or offline partner stores for more than 1 million products and take advantage of EMI without a credit card. Flipkart makes it simple to purchase appliances like air conditioners and televisions on EMI. You can choose an EMI tenure of 3, 6, 9 or 24 months depending on your capacity to pay back the EMI while avoiding a down deposit.
Steps required To use Bajaj Finserv Insta EMI Card on Flipkart
- Check out the Flipkart website.
- Look through the selection of things and choose the one you want to purchase.
- Select the no-cost EMI option on Flipkart using the Bajaj Finserv Insta EMI Card at the payment gateway.
- Choose the payment period on Flipkart from any range of 3 to 24 months for free EMI.
- After securely confirming your order with an OTP, you’re done.
Benefits of using the Insta EMI Card for Online Shopping on Flipkart
When buying on Flipkart, the following perks of the Bajaj Finserv Insta EMI Card are available:
- Purchase items from Flipkart with EMI without using a credit card.
- Take advantage of a high-limit pre-approved EMI Limit to purchase a product on an EMI.
- Take advantage of free EMI on Flipkart products to reduce your spending.
- Pay back the EMI over a flexible time frame of your choosing (from 3 to 24 months).
For clients wishing to make large-ticket purchases on Flipkart with no down payment, no-cost EMIs, and a flexible duration, the Bajaj Finserv Insta EMI Card is a blessing. Therefore, if you don’t already have a Bajaj Finserv Insta EMI Card, this would be a fantastic time to do so.
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Top 3 Reasons To Use Insta EMI Card While Shopping from Flipkart
