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EMIs are fast becoming the way to pay for your favourite products

Date:30-03-2018

Highlights

EMIs help you shop without having to save first

Use Bajaj Finserv’s EMI Network Card to shop smart

Shop on No-Cost EMIs and access the card digitally too

Paying cash upfront is not necessarily the best way to buy your favourite products. And by choosing EMIs as a mode of payment, you can afford almost everything – from high-end gaming laptops to the latest smartphones – with just a fractional rise in your monthly outflow.

Spreading your payment across monthly instalments ensures that you can shop for products and services without spending thousands up-front. There’s no denying that this payment option has proven itself to be an excellent way for savvy Indians to get a step closer to realising their dreams and aspirations.

To keep pace with growing demands and a greater need to seek instant gratification, EMI payments have evolved with time too. Here’s a look at forms of EMI payments that you can use to enhance your quality of life.

EMI Network Card and Wallet:
An EMI Network Card is a physical card that comes with a pre-approved loan amount that you can use to make purchases both in-store as well as online. Our EMI Network Card lets you divide the cost of your favourite products into easy EMIs – no additional costs, no hidden charges – and repay it over a period of time. You can shop for over 1 million products with your EMI Network Card at more than 60,000+ partner stores across the country. And that’s not all, you can even access the same features with the Bajaj Finserv Wallet powered by MobiKwik.

Credit Card EMIs:
A credit card is similar to the EMI Network Card – you can convert your purchase into EMIs and repay it over a suitable tenor. The Bajaj Finserv RBL Bank SuperCard, for instance, is packed with great features including cash withdrawals, converting your credit limit into a loan, EMI finance options, low annual fee, and gives you great rewards for your transactions.

Debit Card EMIs:
In India, the number of debit card users outweighs the number of credit card users by leaps and bounds. For 30.86 million credit card users, we have 880 million debit card users. So, it only makes sense that debit card users get access to EMI payments too. Unlike earlier, when only credit card users could easily convert their purchases into EMIs, today, several debit card providers offer you the same convenience.

Apart from the fact that these EMI payment options allow you to pay for any purchase—from groceries to gadgets—in convenient, bite-sized EMIs, they offer several other perks that make the shopping experience more rewarding and enjoyable. Some of these are:

Deferred EMIs:
This nifty feature is a true representation of buy now, pay later, which is what EMIs facilitate. With deferred EMIs, you have the opportunity to take home the product, and pay after two or three payment cycles have passed. So, if you have bought a smart phone worth Rs.80,000 in October, you might only have to start making payments in January next year. This gives you an opportunity to shuffle your finances, and plan EMIs even more smoothly.

No Cost EMIs:
This is perhaps the most significant benefit to shoppers like you. When you opt for No Cost EMIs, you only have to repay the cost of the product or service. There are absolutely no other charges levied. This results in an instant savings!

Cashback and discounts:
Financial institutions also offer additional discounts when customers choose to make EMI payments. For example, if you buy a refrigerator, apart from the EMI benefit, you might also get a 5% instant discount, or Rs.5,000 as cashback, 3 months into repayment. This way, you can make your purchase, benefit from easy repayment and save a tidy sum—all in one move!

Additional benefits on offer
Apart from these benefits that make shopping online and offline more gratifying, EMI payments also come with conveniences that allow shoppers to choose this as their go-to payment option.

With minimal (or no) down payments, instant approval, flexible tenors, and more, it comes as no surprise that EMI payments are gaining in popularity today.

Choose the most convenient payment options from the EMI Network Card, the Bajaj Finserv Wallet, and the Bajaj Finserv RBL Bank SuperCard and bring home the latest products today!

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