ECS stands for Electronic Clearance Service. An ECS mandate is a confirmation from you that you don’t have any objection to a certain amount from being withdrawn by Bajaj Finserv against your purchase. The amount gets withdrawn for months depending on the EMI repayment tenor selected. The ECS limit on the Bajaj Finserv EMI Network Card is an amount that gets withdrawn from your bank account via ECS.
When you buy a product on EMI also need to submit your KYC documents and a cancelled cheque along with a signed ECS mandate.