What is Zero Down Payment and How to Avail it with an Insta EMI Card?

Zero down payment option offers you the convenience of not paying at the time of purchase.
What is Zero Down Payment and How to Avail it with an Insta EMI Card?
3 min
25 May 2023

How many times have you been tempted by ‘EMI’ and ‘No Cost EMI’ offers from your bank or online platforms, only to realise you have to make a substantial part payment? Unfortunately, for most of us, the answer is quite often. While EMIs and No Cost EMIs make high value purchases affordable, the large down payment often makes us walk away from the purchase. The zero down payment facility provides us with the financial flexibility to purchase items on EMIs without emptying our wallets with a lump-sum payment. Let us understand the zero down payment meaning, and how you can avail of zero down payment financing.

Zero down payment and its meaning

Lenders today offer EMI plans with credit, debit, and EMI cards that allow you to distribute the payment equally over several months, sometimes without levying any interest. While paying for any product or service in instalments, you are usually required to make a part lump-sum payment, and the remaining amount is converted into EMIs. This lump-sum payment you make while purchasing the item is known as a down payment.

Depending on factors like the product’s cost, this down payment can either be a token amount or a substantial burden. For instance, let us say you wish to purchase a new gaming laptop that costs around Rs. 1.5 lakh. As it is a large amount, you want to spread it over several months, and your credit or debit card can be used to avail of EMI plans. You will likely have to make a significant down payment at the time of purchase, making it difficult to purchase the item even if you pay the remaining amount in instalments.

Understanding the consumer’s dilemma, Bajaj Finance allows you to shop on zero down payment by using the Insta EMI Card. By removing the down payment component, you can convert the entire cost into affordable monthly instalments. Like this, zero down payment schemes are designed to provide you with immediate access to your desired purchases while spreading the cost over time.

Benefits of shopping on zero down payment with Insta EMI Card

If you are not sold on the idea of 0 down payment just yet, you should know about the benefits extended by zero down payment financing.

Instant access to your desired item

Normally, you have to wait for a few weeks or months to save up for the hefty down payment while buying your favourite DSLR camera or LED TV. But, when you shop on zero down payment facility, you can purchase the product instantly and convert the cost into instalments.

Better cash flow management

You can have better control over your cash flow by purchasing items through zero down payment financing. Instead of relying on your savings to make a lump-sum payment, you can spread out the cost over manageable monthly instalments.

Increased purchasing power

When you do not have to make a large down payment, you can afford big-ticket purchases without straining your budget or compromising quality. You can buy products and services that align with your aspirations and lifestyle.

Pocket-friendly payments

EMI cards that offer zero down payment financing, like the Bajaj Finserv Insta EMI Card, offer the benefit of affordable monthly payments. You can comfortably repay the amount over several months, making it easier to manage your expenses and stay on track with your financial goals.

Improve credit score and history

Are you worried about your credit score? Showcase responsible credit behaviour by opting for zero down payment financing through the Insta EMI Card and making monthly payments always on time. This will positively impact your credit score and credit history. You will also be seen as someone who can manage debt effectively. Moreover, a healthy credit profile opens doors to future financial opportunities. You can easily obtain favourable loan terms or qualify for higher credit limits.

Flexibility and convenience

With zero down payment financing, you experience convenience and financing that you will not encounter with traditional payment methods. For example, with the Bajaj Finserv Insta EMI Card, you can make purchases online or at partner stores. You have the freedom to shop whenever – and wherever – you want. You also get to choose the flexible repayment tenure that aligns with your finances, ensuring a comfortable and hassle-free payment experience.

Eligibility criteria and documents required for 0 down payment using Insta EMI Card

Anyone can get an Insta EMI Card as long as you meet the basic criteria mentioned below. If you meet the criteria, you will need a set of documents to complete your application process.

  • You should be an Indian citizen residing in India.
  • You should be between the age of 21 years to 65 years.
  • You must have regular source of income.
  • Your credit score must be 720 or above.

You only need a few essential documents like your PAN card, address proof, and a signed ECS mandate.

That is it!

Products available on zero down payment using IEMI

You can visit Bajaj Mall or offline retail shops like Croma to shop for your favourite electronics and home appliances or explore other partner e-commerce websites to purchase your desired product. From top-selling air conditioners to the latest smartphones here are a few popular items that you can shop using your Bajaj Finserv Insta EMI Card.

  • Air conditioners
  • Refrigerators
  • LED TVs
  • Washing machines
  • Smartphones
  • Laptops
  • Smartwatches
  • Bluetooth speakers
  • Headphones
  • Bicycles
  • Ceiling fans
  • Furniture
  • Water purifiers, and more

How can you avail of a zero down payment offer with Insta EMI Card?

Now that you understand the meaning of zero down payment and its benefits, you would want to put your new-found knowledge into action. With zero down payment financing through Bajaj Finserv Insta EMI Card, you can buy items across categories – from technology and fashion to home appliances and more. Here is how you can shop guilt-free.

How to shop using Insta EMI Card online?

Step 1 If you are shopping online, visit Bajaj Mall or any of your favourite e-commerce platform
Step 2 Go to the product catalog and check the ‘zero down payment’ box under ‘Offers’ in the filter section
Step 3 Select the product you like and add it to your cart
Step 4 Choose your preferred No Cost EMI and tenure combination and finalise the purchase

Apply for Bajaj Finserv Insta EMI Card

How to shop using Insta EMI Card offline?

Step 1 Visit any of the Bajaj Finserv EMI Network partner store
Step 2 Select the product that your wish to purchase
Step 3 Get assistance from any of the sales representatives the store
Step 4 Opt for in-store financing and choose the zero down payment option
Step 5 Choose your preferred No Cost EMI and tenure combination and finalise the purchase

And that is it. You can buy any product on No Cost EMI, and enjoy zero (0) down payment benefits with the Bajaj Finserv Insta EMI Card.

With zero down payment financing, you can make high-value purchases without bearing the brunt of hefty upfront payments. Want to buy the latest OLED TV or a flagship smartphone from a top brand? You no longer have to postpone your dreams; simply use the Bajaj Finserv Insta EMI Card to convert the purchases into affordable No Cost EMIs. By shopping on zero down payment, you can forget about hefty down payments and enjoy your new-found financial flexibility.


1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

What is a zero down payment?

A zero down payment refers to a situation where a buyer makes no upfront payment while purchasing a product or service. Instead, the entire purchase amount is financed, and the buyer pays in instalments over a specified period.

Can I buy a phone with zero down payment?

Yes, many retailers and financial institutions offer the option to buy a phone with zero down payment. This means you can own the phone without making any initial payment and pay for it through convenient instalments.

Does No Cost EMI have a down payment?

Typically, a No Cost EMI does not require a down payment. It allows you to purchase a product or service without paying any interest or additional charges, making it a cost-effective way to buy high-value items.

Is down payment and EMI the same?

No, a down payment and EMI are different concepts. A down payment is an initial payment made at the time of purchase, while EMI (Equated Monthly Instalment) is the fixed amount paid regularly over a specific period to repay the remaining cost of the purchase.

What is the meaning of down payment?

A down payment is the initial amount paid upfront when buying a product or service on credit. It is a percentage of the total purchase price and reduces the remaining amount that needs to be financed through instalments.

What is an example of a 0 down payment?

An example of a 0 down payment is when you purchase a television worth Rs. 30,000 on a No Cost EMI plan, and you do not have to make any initial payment. You can pay for the TV in equal instalments over a specified tenure without incurring any interest charges.

What is the benefit of a down payment?

Making a down payment has several benefits. It reduces the burden of EMI payments and lowers the total cost of the purchase by reducing the principal amount. A down payment also reflects your commitment to the purchase, making you eligible for better financing terms and lower interest rates.

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