Shopping on EMI Without a Credit Card – Is It Really Possible?

In recent years, the trend to purchase expensive lifestyle, as well as durable products on EMI (Equated Monthly Instalment), has witnessed an upsurge due to the convenience that comes with it. But, not many know that shopping on emi without credit card is the latest big thing in the industry. Yes, you heard it right. The best alternative to it is the EMI card. 

Unlike credit cards, where the interest rate is usually high, an EMI card helps you with a longer interest-free term when you plan to buy anything. 

What is an EMI?

It is a set amount of money the borrower gives to a lender on a fixed date each month. It is important to keep in mind that it is allocated towards interest and the principal so that the loan is paid off in total over a specific time period. 

What is an EMI card?

One of the best alternatives to without credit card emi shopping, an EMI card is a card which allows one to buy expensive durable or lifestyle items with easy monthly EMIs. Like a credit card, this card also comes with a pre-defined credit limit. Currently, it is considered one of the most efficient ways to purchase electronics. I’ve also experienced purchasing expensive items via a credit card, but it was not feasible for me due to its high-interest rate. 

However, an EMI card offers interest-free EMIs, which means that despite breaking down the whole payment in parts, there is no need to pay extra interest. Trust me, if you are thinking about how to buy electronics on EMI without credit card, this is a perfect way.

Remember, only a few organisations offer this type of card. I have been using the one offered by Bajaj Finserv, which helped me purchase my new Samsung Flip. So, the next time a question such as ‘how to buy things on emi without credit card?’ arises in your mind, you know the answer. 

What are the pros of an EMI card?

  1. Its repayment tenure is flexible; one can choose from 3 months to even 24 months.
  2. It is opposite to a credit card, where you usually make a purchase on credit. Notably, an EMI card comes with a pre-approved loan amount of Rs 2 lakh.
  3. Here, the no-cost EMI period is much longer than the mainstream six-month period, automatically enabling you to purchase without hesitancy. So, when you are planning without credit card EMI online shopping, this is one of the best ways to go with. 

How to get an EMI card in India?

  1. Install the Bajaj Finserv app on your mobile phone
  2. Sign up
  3. Once you log in, you’ll see EMI Network Card under the ‘Products for you’ section on the homepage. 
  4. Tap on it and then tap on Get it now. 
  5. Enter all the details and proceed further.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button