How to shop for electronics on EMI without a credit card

Nowadays, people don’t postpone or cancel their purchase plans due to the high prices. However, when it comes to electronics, there is no doubt that they come with a heavy price. Whether the latest smartphone or a big television, gadgets are pretty expensive. However, one of the latest trends and simple purchasing options is to buy electronics on EMI (Equated Monthly Instalment). It offers a smooth purchasing process without hampering your financial plans. 

Now, this is not about just going to a shop and giving out any card. One needs to be careful while using a card too. In my personal experience, I’ve been using the trending EMI card for over two months now. 

What is an EMI?

An EMI is a set amount of money the borrower gives to a lender on a fixed date every month. It is essential to keep in mind that it is allocated towards interest and the principal so that the loan is paid off in full over a specific period. 

What is an EMI card?

An EMI card is a card that allows you to buy expensive items with easy monthly EMIs. This card comes with a pre-defined credit limit like any other credit card. In current times, it is considered one of the most efficient ways to purchase electronics. Believe me or not, I’ve also experienced purchasing expensive items via a credit card, but due to its high rate of interest, it was not at all feasible for me. 

However, an EMI card offers interest-free EMIs, which means that despite breaking down the whole payment in parts, there is no need to pay extra interest. Trust me, if you are thinking about how to buy electronics on emi without credit card, this is a perfect way.

Remember, only a few companies offer this type of card. Personally speaking, I have been using the one offered by Bajaj Finserv, from which I purchased my new smartphone.

What are the benefits of an EMI card?

  • Stretches your budget 

When you see that the no-cost EMI period is much longer than the mainstream six-month period, you automatically plan to purchase a more expensive version of any electronic appliance or gadget. 

  • Flexibility

It offers flexible repayment tenure from 3 months to two years. This gives the buyer a sense of satisfaction as it helps chalk out their financial plan accordingly. 

  • Pre-approved loan

It comes with a pre-approved loan amount of Rs 2 lakh. It is opposite to a credit card, where one makes a purchase on credit. So it is one of the best ways for without credit card emi online shopping.

How to get an EMI card in India?

    1. Install the Bajaj Finserv app
    2. Sign up with your personal information
    3. Once you log in, on the homepage, you’ll see EMI Network Card under the ‘Products for you’ section. 
    4. Tap on it and then tap on Get it now. 
    5. Enter all the details and proceed further.

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