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    Bajaj Finserv EMI Card

    As an individual it is really hard to get over the urge of buying something that catches our attention. Even though the price of the product exceeds the budget, the temptation of owning the product is hard to relinquish. Let it be buying a new smartphone, furniture or electronic items it is hard to control the urge of buying it. In that regard, the Bajaj Finserv EMI card can be quite beneficial as it enables individuals to get their desired items and pay off the amount in equated monthly instalments. The offering of the EMI card by Bajaj Finserv helps the customers embrace a smarter way of owning their favourite products without exceeding their monthly budget.

    Features of Bajaj Finserv EMI card

    The EMI card which can be used to transact both in person as well through the Bajaj Finserv Wallet mobile app is different from a credit card. The card unlike credit cards does not compel customers to pay the outstanding amount in one go.

    Below, we take a look at the features available to the customers of the EMI card:

    • Pre-approved loan available: The EMI card offered by Bajaj Finserv comes with a pre-approved loan. Having the card enables the customers to have their hands on a loan without having to go through the formalities.
    • Instant Approval: The EMI card is loaded with a pre-approved amount. To avail this feature, the customers need to swipe the card and choose an EMI plan that suits their needs. After doing so, the pre-approved amount is approved instantly which can be used in the purchases one makes.
    • Loan tenure available is flexible: The EMI card provides a variety of options to the customers in choosing the tenure to repay the loan. This is quite beneficial as it enables the individual to access his/her resources well prior to fixing the repayment tenure.
    • No foreclosure charges levied: Another feature that comes with the EMI card is that no extra charges are levied if the loan amount is repaid before the end of the agreed loan tenure. So, if the customers have the resources to repay the amount before the due date, he/she can do without worrying about paying extra charges.
    • Access to online account: Customers can access all the details on the online customer portal. This enables them to monitor various aspects with respect to their EMI card like interest certificate, payment schedule etc.

    Benefits Of Having An EMI Card

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    Most of the features that comes with the Bajaj Finserv EMI card can be accounted as benefits as they provide the customers certain options that are generally not available when we talk about credit cards. Below, we take a look at some other benefits that are available to individuals who avail the EMI card:

    • Having an EMI card relieves customers from needing to carry documents as the card itself carries all the required documents.
    • There is no restriction on the amount of transaction that can be done using the EMI card.
    • Reward points are offered on every purchase that one makes, which can be redeemed in the future to buy other products.
    • The customer is eligible for exclusive pre-approved offers provided by the partner retailers and manufacturers.
    • Online shopping is made much simpler and secured with the help of the EMI card.

    What Is Required To Be Eligible To Avail A Bajaj Finserv EMI Card?

    Considering the features and benefits that comes with the EMI card, it is quite natural that the next question that comes to one’s mind is the eligibility criteria. To avail the EMI card offered by Bajaj Finserv, one requires to be a salaried employee. The individual also needs to be above 21 years of age and should not be exceed the age of 60 years.

    Next the eligible persons need to provide certain documents to make sure that the process to avail the EMI card can be started.

    The following documents are needed to be provided by the individuals:

    • One passport sized photograph
    • A cancelled cheque
    • Government issued Photo ID
    • Residence proof
    • Duly signed ECS mandate

    Fees And Charges Involved With Having An EMI Card

    Fees and charges Amount
    EMI cards available Gold and Titanium
    Joining Fee Gold - Rs. 412 Titanium - Rs. 884
    Annual Fee Rs. 99 + GST
    Processing fee Depending on the special offers prevalent at the time of purchase.
    Interest rate No interest charged on loan offered under durable finance.
    Add-on Card facility Not available
    Card replacement fee Rs. 100

    How To Apply For The EMI Card?

    One can apply for the Bajaj Finserv EMI card through three ways. They are: online mode, through customer portal or while buying products at partner stores of Bajaj Finserv.

    • Applying online: One can apply for the EMI card online by visiting the official website of Bajaj Finserv. The individual would be asked to make a payment of Rs. 399 following which a bank representative would come and collect the required documents. However, if the document collection service is not available in one’s area. he/she need to visit the nearest Bajaj Finserv branch and submit the documents.
    • Applying through customer portal: If one is a existing customer of Bajaj Finserv, he/she can apply for an EMI card through the customer portal as well. The customer only needs to make the online payment of Rs. 399 following which the EMI card will be sent in two weeks.
    • Applying at partner stores: Apart from the above mentioned ways of getting the EMI card, customers can also apply for it while purchasing products. If one is buying products that falls in the category of durable, digital or lifestyle on EMIs from any of the partner stores they can apply for the EMI card then and there itself. This enables customers to save some time as they don’t need to visit the bank branches.

    Faqs Regarding Bajaj Finserv EMI Card

    • What kind of loans can I expect?

    By using the EMI card, one become eligible for durable loans.

    • Do EMI card come with the facility of foreclosing my loan?

    Yes, the facility is provided to the customers who use the EMI card provided by Bajaj Finserv.

    • Is there a minimum period before I can foreclose by loan?

    Yes, you can foreclose your loan only after six months from the date of loan disbursement.

    • What are the tenure available for repayment of loan amount?

    For loan repayment, the tenure available to the customers range in the period of 8 to 24 months.

    • What is the interest and processing fee for the loan?

    There is no interest charged on the loan amount offered under durable finance. But when it comes to loans not covered under durable finance nominal interest is charged as per prevailing interest rates and policy. As for processing fee, it is charged depending to special offers prevalent at that time.

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