Zero (0) Down Payment Financing - All you need to know

The deal sounds exciting especially when you consider that you can bring home anything from a washing machine and a refrigerator to a television, home theatre system and a smartphone without having to wait to accumulate sufficient finances. Here’s all you need to know about this attractive 0 financing facility.

What is zero down payment financing?

Zero down payment financing is a payment facility in which your financier pays the entire cost of your product, not requiring you to pay anything upfront.

Normally, you need to make a down payment of 5% to 20% of your product’s purchase price and pay the rest via EMIs. Here, this initial expense is eliminated.

What kind of products offer zero down payment facility?

You can shop for a wide range of consumer durables ranging from air conditioners and microwave ovens to water purifiers and smartphones via a zero down payment plan. At one level, the facility is brand-specific. That is, if a particular brand offers products sans an initial down payment, then your financier will extend to you the same benefits.

However, the benefits may be extended to products that aren’t normally listed for this scheme during festival seasons. Financiers and retailers do this so as to boost sales by making it easier for customers to shop.

Now that you know what is 0 financing in terms of the down payment, consider its pros and cons.

Pros and cons of a zero down payment plan

A no down payment plan means that you can bring home your purchase, however expensive, without spending money upfront. This allows you to buy your favourite products when you need to and not postpone purchases due to lack of immediate funds. This type of financing enables you to free up money for other monthly expenses.

On the other side, zero down payment means that you pay larger EMIs. You may also incur more interest as your principal is bigger. So, you can say that you get convenience at a cost.

Where to get a zero down payment deal?

A great place to avail a zero down payment offer is the Bajaj Finserv EMI Network. Here you can pick from over 1 million products sold through over 60,000 partner sellers across more than 1,300 cities in India. Many products available here come with the zero down payment facility.

Further, you can make your purchase still more convenient and affordable by shopping on No Cost EMI, a financing option that ensures that you pay nothing over the product’s purchase price. To buy, simply use your EMI Network Card online or offline or avail in-store financing at a partner store you visit.

Having considered the ins and outs of the zero down payment facility, avail its benefits to manage your finances well. When looking to bag a deal quickly, check your pre-approved offer from Bajaj Finserv. Doing so gives you instant approval through a customised offer and access to tons of 0 down payment and No Cost EMI deals as well!

This festive season, Bajaj Finserv brings to you #JustEMI wali Sparkling Diwali. During this campaign, you can shop for the latest electronics from any of our partner stores near you and get vouchers of up to Rs. 9,500*. Just shop for a minimum of Rs. 15,000 and get gift vouchers of Rs. 2,700 from Big Bazaar, Rs. 1,300 from BookMyShow, Rs. 4,000 from MakeMyTrip and a 3-month Netflix subscription worth Rs. 1,500.

That’s not all, you also get a cashback of up to Rs. 3,000 when you shop for the latest smartphones starting Rs. 15,000 on the EMI Network.