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How No Cost EMI Can Lighten Your Burden Of Expenses

While shopping is a delightful experience, making a dent in our savings account isn’t worth the risk. Especially when it could leave you unprepared for emergencies that demand instant cash transactions. In this regard shopping at No Cost EMI is a good option.

So what is No cost EMI?

No Cost EMI means that you are required to pay no additional charges over and above the principal amount loaned against the purchase. In other words, availing No Cost EMI translates to zero interest on top of the actual cost of the product. In September 2013, RBI released a circular, preventing lenders from handing out loans and EMI at zero percent interest rate. Accommodating this rule, lenders who offer you no cost EMI, do so by deducting the total interest you would have had to pay from the price of the product. Therefore, no-cost EMI essentially translates as a discount on the cost of the product, equivalent to the interest that the buyer would have had to pay for the purchased item.

Which No Cost EMI should I opt for?

If you are looking to try the No Cost EMI option to shop for your favourite items, the Bajaj Finserv EMI Card is a great alternative to the traditional credit card. The Bajaj EMI card is an exclusive card that comes with a pre-approved loan that lets you divide the purchase amount into equated monthly instalments over a tenure customized by you. During this tenure, you are required to pay back only the actual price of the product without any interest or additional charges. For example, imagine you have bought a smartphone model costing INR 18,000 using the Bajaj Finserv No Cost EMI Card and decided on a tenure of six months. In that case, you would only have to pay INR 3,000 per month only.

There are many benefits of buying items using the Bajaj Finance EMI Card. Some of them are mentioned below-

  • No Cost EMI offers you the opportunity of deferred payment. As a result, you can buy high-value products without having to pay for them upfront
  • Unlike regular EMIs, No Cost EMIs do not require you to incur any additional interest charges. This gives you the comfort of spreading the repayment tenure over a longer period of time depending on your capacity to save and pay back
  • You do not have to depend on your credit card to make purchases. As it comes with a pre-approved loan, you are also saved from the hassles of applying for a loan

You can opt for Bajaj Finserv EMI Card apply online process that can be completed from both the website as well as the Finserv MARKETS app. Just check your eligibility, make a payment and you would receive an SMS to view your Bajaj EMI card on the Finserv MARKETS app. Yes! The Bajaj Finserv EMI Card apply online process is that simple and can be completed from the comfort of your home.

If you are someone who often finds themselves struggling with expenses and savings, and are looking to save big on interest rates and additional charges, the Bajaj Finserv EMI No Cost EMI card is just the thing for you.

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