What is No Cost EMI and How to Buy Products on Easy EMIs
You wanted to bring home a brand new LG air conditioner priced at Rs.30,000 before the onset of summer in 2019. However, you figured that your salary might not support paying the price of the AC in one go.
At that time, you wished if you had a credit card using which you would have bought the AC on EMIs. You were disappointed and then thought that you would need to save for the next 6 months to become financially capable of purchasing the AC.
If you are also stuck in a similar situation and if your income and other monthly expenses are not letting you buy products easily, you can opt for No Cost EMI.
And yes, you don’t need to have a credit card to enjoy shopping on No Cost EMI. What? Is that even possible?
Yes, it’s the new way to pay for your big-ticket other expenses in India without compromising on your desires and hampering your budget.
With the help of the consumer durable loan facility, a salaried person can seize EMI on multiple products. In India, the Bajaj Finserv EMI Network offers the No Cost EMI facility via its consumer durable loan option.
If you wish to dig deeper so that it helps you shop without compromises in the future, then all that you need to do is continue reading this post. By the end of this post, you will be able to know about the concept, benefits and steps to buy on No Cost EMI.
What is a No Cost EMI shopping?
As the name suggests, you can divide the cost of your purchased products over a tenor and pay only an exact EMI figure. You don’t need to pay anything extra above and over your EMI amount. This way, you can end up enjoying substantial savings on all your purchases.
How No Cost EMI works?
If you are thinking how No Cost EMI works then here is an example to clear your doubts.
Example – Suppose the price of a Haier 6 Kg Fully Automatic Washing Machine that you wish to buy on No Cost EMI over a tenor of 6 months is Rs.15,000. Hence, you will only need to pay Rs.2,500 per month as the EMI and nothing extra.
As a result, compared with other EMI payment systems, you can enjoy greater savings by paying only the fixed EMI amount and nothing additional.
How to avail the No Cost EMI facility?
If you want to know how to apply for No Cost EMI, then you can avail the consumer durable loan facility from the Bajaj Finserv EMI Network.
A consumer durable loan is a loan limit facility which is offered against your eligibility and lender’s policies. If you are eligible, you can get any amount ranging between Rs.4,000 and Rs.4 lakh to shop on affordable EMIs.
You can pay for your expenses using the Bajaj Finserv EMI Network Card at one of the partner stores in India. In India, there are 60,000+ local stores registered on the EMI Network in 1300+ cities in India. You can swipe the EMI Network Card at a store to buy consumer durables on No Cost EMI.
Steps for shopping for a product on No Cost EMI facility
Shopping for your desires and needs and living a better life is now possible if you can follow some easy steps to shop on No Cost EMI. Let’s have a look.
- Go and visit one of the 60,000+ local stores in 1300+ cities in India spread across the Bajaj EMI Network
- Select any consumer durable such as a smartphone, fridge, laptop, washing machine, DSLRs, ACs, and 1 million other useful products. Once done, swipe the EMI Network Card like a credit or debit card
- You can now walk away with your purchase
What to do if you don’t have the Bajaj Finserv EMI Network Card?
Did you know shopping for your desired products on No Cost EMI is now possible even if you don’t have the EMI Network Card with you?
All that you can do is submit your KYC documents along with a canceled cheque at a partner store on the EMI Network in India. If you are eligible, you may get a quick credit limit to begin your shopping at easy EMIs.
This way, you can join 1 crore+ members on the EMI Network to start living a better life by bringing home all products on No Cost EMI.
You can submit some basic details such as your name and mobile number to check out your pre-approved loan offers today.
