Digital EMI Network Card Terms And Conditions

Digital EMI Network Card Terms And Conditions
2 min read
05 Apr 2022


I hereby state, confirm and agree as under:

1) That I have applied for the Bajaj-Finserv Existing Membership Identification Number ("EMI Card") through this Application Form, from Bajaj Finance Limited ("BFL").

2) That I hereby unconditionally acknowledge and accept that:

a) The EMI Card may be issued by BFL either in physical or electronic form.

b) All particulars, information and details provided by me in relation to my application are true, correct and up to date in all respect and that I have not withheld any material information and I am obligated to keep BFL immediately updated of any change in the information provided by me in this Application Form.

c) I shall submit all documents/ KYC, in such form and manner as may be required by BFL in relation to my application. Further in case of any changes in my registered KYC or bank account details, same needs to be updated to BFL.

d) I shall make payment of the applicable fee and/or charges, as specified herein by BFL with respect to EMI Card and as more specifically detailed under Annexure I, below.

e) I understand that the aforesaid fee and/or charges are subject to changes and are non-refundable and non-transferable.

f) I understand that in the event of rejection of my application during the document verification process, a refund will be initiated within 15 days of rejection by BFL only in the case where the application was rejected despite there being no misrepresentation of information in the application form vis-à-vis the documents submitted.

g) I understand that the aforementioned fee and /or charges are non-refundable in the event of misrepresentation of information on application form vis-à-vis the documents submitted by me.

h) I hereby agree to pay the Joining Fee or authorize BFL to deduct the Joining Fee from my bank account, details whereof are provided by me to BFL.

i)I understand that the aforementioned fee and /or charges are non-refundable in the event of non-submission of documents for document verification at the store within 90 days of payment of fee.

j) BFL has the sole and absolute discretion, without assigning any reasons to accept or reject my application.

k) I have read and understood the Master Terms and Conditions applicable to Loans for Consumer Durable, Digital, Lifestyle products & EMI Cards (“Master Terms”) prescribed by BFL and available on

Website and understand the applicability of the same for issuance and usage of EMI Card and hereby agree to be bound by the same at all times including any additions/ amendments thereto from time to time. I agree to keep myself updated of any revisions in the Master Terms as may be communicated by BFL through any Acceptable Means of Communication (as defined in the Master Terms).

l) I shall keep my credentials including the login id and password/ PIN issued by BFL and/or reset by me (“Credential”) as confidential and not to share the same with any person/ third party. Any use or misuse of the credentials including the transactions carried out using the credentials shall be my sole responsibility and BFL shall not be held responsible for any loss/ damage incurred on account of such use or misuse.

3) I authorize BFL:

a) To exchange, share or part with all information relating to this application to credit bureaus/credit reference agencies, its group companies, financial institutions, Credit Information Companies (‘CIC’), Central KYC Registry (CERSAI) or any authorized third-party agency as BFL may deem necessary or appropriate for use or processing of the said information and shall not hold BFL or any of its group companies or its/ their agents/ representatives) liable for use/ sharing of the information as stated above.

b) To seek/ obtain any other information, relating to me, from any third party.

c) To procure/ avail my CIBIL report and provide it to me by deducting applicable charges for the same

d) To share certain information related to EMI Card, which may include my KYC and transaction details with its business associates (subject to confidentiality restrictions) for integrating the EMI Card usage on such business associate’s website/ wallet, etc. as may be required for facilitating my use of EMI Card.

4) I hereby authorize group companies, affiliates and/or business associates of BFL and their respective representatives to send me communications regarding loans, insurance and third-party products and services, through telephone calls/ SMSs/ emails/ post/ WhatsApp etc. including but not limited to promotional communications. I understand that I can at any time opt to withdraw my consent to receive any communication.

5) That this Application Form, together with all its contents may be submitted to:

a) The subsidiaries and affiliates of BFL, any service provider/ third party with reference to rendering services in connection with the product(s) availed by me.

b) to any Regulator, Court, Law enforcement agency, Quasi-Judicial authority etc. on a need to need basis.


1) EMI Card is neither a credit card nor a stored value card, etc. and is used only for authentication of Customer’s identity while providing the Loan.

2) All EMI cardholders, who have not availed loan using the EMI Card in the preceding year, will be charged an Annual Fee, as detailed in Annexure I below. Preceding year will be calculated starting the issuance month mentioned on the EMI Card. In case the Customer uses the EMI Card for availing the Loan within the stipulated time period as prescribed by BFL, then the Annual Fee levied shall be refunded.

For example: If the EMI Card is issued in the month of February 2019 (referred to as ‘Member Since’, on the EMI Card) the date for payment of the annual fee will be March 2020.

3) For each valid transaction initiated and approved by the BFL on the EMI Card, a new Loan account will be created by BFL, provided that BFL may at its sole discretion reject such transaction initiated through the EMI Card. Further BFL may require additional documentations including KYC from the Customer for approving the said loan transaction.

4) BFL may at any time, at its sole discretion and without assigning any reason, decide to withdraw the EMI Card service and/ or terminate any specific EMI Card and will have no liability to the EMI Card-holder or any other person in this regard.

5) BFL is not an issuer/ provider of the products purchased/ services availed by the Customer through the EMI Card. Accordingly, BFL shall not be responsible for the quality or any assurances and/or representations made in relation to such products/ services provided by third parties. BFL shall not be liable for any delay in delivery or no-delivery of product and/or with respect to the quantity, quality, conditions, fitness, suitability or otherwise whatsoever of the product.

6) The NACH mandate given by Customer in favor of BFL can be used to recover all Outstanding amount including fees, penalties, cost and other applicable charges in connection with any Loan availed by the Customer from BFL.

7) Terms used but not defined herein shall have the meaning ascribed to them in the Master Terms

8) In the event of an unauthorized access to or use of an EMI Network Card, the cardholder shall immediately contact us at or +91 8698010101 to block your EMI Network Card.

The customers availing moratorium from BFL, will not be entitled for the benefits of third party products namely Digital Fone Safe (DFS)/ Screen Protect/ Mobile Protect, until the loan dues pertaining to the moratorium period are paid by such customer to BFL.


1) The usage of the EMI Card is subject to the terms and conditions mentioned in this application and Master Terms accessible on as may be amended by BFL from time to time.

2) The usage of the EMI Card would be construed as the deemed acceptance of the Master Terms applicable to the EMI Card.

3) By using the EMI Card, the customer may engage in the following transactions:

a) Use it for identification and authentication, by providing/ entering the EMI Card number or by providing the registered mobile number of the cardholder (as per BFL’s records) at Merchant Counter or BFL’s branches or online platform, the issuance date and the name of the cardholder; where the Customer is required to show one photo identification card or enter his/her PIN or Transaction Code. Once the Customer identity is authenticated, the EMI Cardholder will receive an SMS providing the commercial terms of the proposed Loan being offered (“Transaction SMS”) and containing a specific numeric code (the “Transaction Code”)

b) To avail loan for purchase a Consumer Durable (CD) (LED, refrigerator, AC, smartphones, laptops etc.), Lifestyle (LSF) (furniture, life care elective procedures, educational services etc.) or Retail (apparel, footwear, small appliances, travel, coaching classes, hotels, flights, eyewear, accessories etc.) product, from outlets/ stores owned and operated by Dealers & POS – Online & Offline, and such other products as may be authorized by BFL from time to time (“Products”) from the Dealers empaneled with BFL on equated monthly instalments from BFL where EMI Card is available & authorized;

c) enquire about the available loan amount for CD, LSF or Retail purchase; and/or enquire about personal loan eligibility and/or apply for the same at BFL’s call center, branch or online customer portal

4) EMI Card shall not be used for any unlawful / unauthorized purpose.

5) As a token of acceptance to the terms and conditions provided in the Transaction SMS, the customer shall convey his/her acceptance by entering the PIN or Transaction Code or OTP at the counter or BFL branch or OTP at the online platform, as the case may be.

6) BFL would charge convenience/ processing fees at its sole discretion on the Loan availed by customer using EMI Card, same would be communicated to the Customer through the Transaction SMS and shall be binding on the customer.

7) Notwithstanding payment of Instant Activation Fee by the Customer, the EMI Card cannot be used for purchase on eCommerce platforms and of retail (apparel, footwear, small appliances, travel, coaching classes, hotels, eyewear, accessories etc.) products, until successful registration of the ECS/ NACH mandate for the loan availed by the Customer as per this Application Form


By submitting this Application Form, I hereby expressly authorize BFL, its group companies, affiliates and/or business associates and their respective representatives to send me communications regarding loans, insurance and their respective products and/or services (collectively “Other Products”) through telephone calls/ SMSs/ emails/ post/ bots/ bitly etc. including but not limited to promotional communications. I agree and understand that such Other Products if availed, are governed by their own set of terms and conditions, which shall be in addition to and not in derogation to the terms and conditions prescribed by BFL herein. I understand that I can at any time opt not to receive any telecommunication.


While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply