Introduction
Nowadays, shopping has become an important part of life. There is nothing good about not shopping, but sometimes it happens that we want to buy something of our choice, but we don’t have the money. Has it ever happened to you that you decide to buy something important, like a new TV, mobile, furniture, or other essential household items, but due to budget constraints, you have to stop? It often happens that our dreams remain unfulfilled due to a lack of money.
Imagine if you get this facility without a credit card and without much hassle on easy installments, how would it be? The Bajaj Insta EMI Card offers this facility, making your shopping experience easier. In a country like India, not everyone has a credit card, but the Bajaj Insta EMI Card gives the benefit of installments every year to those people only. People use this card because they do not have to pay any interest on it. Let’s introduce the Insta EMI card online:
What is the Bajaj Insta EMI card?
Bajaj Insta Ami Card is a digital card that lets you convert your shopping into easy installments. It does not work like a credit card. It is not a credit card. It offers a pre-approved loan limit. The special feature of the Bajaj EMI card is that it offers a no-cost EMI option. This means that if you buy any item or product, you do not have to pay any extra interest on it. You do not have to pay anything except the price of that product.
This card is accepted at millions of partner stores across India and on e-commerce websites like Amazon and Flipkart. Simply put, this card can make your shopping easier and more pocket-friendly.
Key Features of the Bajaj Insta EMI card
| Feature | Description |
|---|---|
| Pre-approved Loan Limit | This card offers customers a pre-approved loan limit. This limit can be up to ₹4 lakh, depending on your income. |
| No-Cost EMI | If you use this card for your shopping or essential items, you don’t have to pay extra interest. |
| Flexible Tenure | When you shop with this card, you can choose the installment tenure as per your convenience. This period can range from 3 to 60 months. |
| Digital Card | The Bajaj Insta EMI Card is a completely digital card and can be easily managed using the Bajaj Finserv app. |
| Instant Approval | The card is activated immediately after application. |
| Special Discounts | This card offers you great deals at partner stores and merchants, including special discounts. |
Benefits of the Bajaj Insta EMI Card
- Convert Purchases into EMIs: Applicable has a wide range of products, including electronics, appliances.
- Special EMI Schemes: Opt for lower EMI options with extended tenures.
- Exclusive Offers: Access to special deals and discounts at partner stores.
- No Annual Fee: Only a one-time joining fee of ₹530.
- E-Mandate Facility: Set up auto-debit for timely EMI payments on any payment apps and modes.
Eligibility Criteria for Bajaj Insta EMI Card
| Criteria | Details |
|---|---|
| Nationality | Indian citizen |
| Age | 21 to 65 years. |
| Income | Regular source of income; no minimum salary requirement. |
| Credit Score | As per Bajaj Finance’s risk policies, a higher score increases approval chances. |
| Documents Required | PAN card, Aadhaar card for KYC verification, and bank details for e-mandate registration. |
| Employment Type | Salaried, self-employed, or business owners are eligible. |
How To Apply Bajaj Insta EMI Card
- Visit the Official Website: Go to the Bajaj Finserv Insta EMI Card application page.
- Enter Mobile Number: Provide your 10-digit mobile number and verify via OTP.
- Fill Personal Details: Enter your full name, PAN, date of birth, and PIN code.
- Employment Details: Specify your employment type and gender.
- KYC Verification: Complete KYC using your Aadhaar card or DigiLocker.
- Joining Fee Payment: Pay the one-time joining fee of ₹530.
- Card Activation: Upon successful payment, your digital card will be activated.
How to Use the Bajaj Insta EMI Card
- Digital Card Access: It provides you feature of a digital card, you can use it on any online sites and e-commerce sites.
- Check Pre-Approved Limit: Before using this card, check your pre-approved limit and shop according to this limit.
- Shop at Partner Stores: You can shop at partner stores, which provide you best facilities.
- Convert Purchase into EMIs: When you shop for something, this card converts your shopping amount into easy EMIs according to your comfort.
- Payment Options: EMI is automatically debited from your bank account via e-mandate. Ensure sufficient balance on the due date to avoid late fees
- Track & Manage: Use the Bajaj Finserv App to check the remaining EMI balance, upcoming due dates, and Track transaction history.
- Tips: Always pay EMI on time to maintain a good credit score. Check for 0% interest EMI offers at partner stores for extra savings. Do not exceed your credit limit to avoid declined transactions.
Bajaj Insta EMI Card Fees & Charges
| Fee Type | Details |
|---|---|
| Joining Fee | ₹530 (inclusive of applicable taxes) — one-time fee at the time of application. |
| Processing Fee | Up to ₹1,017 (inclusive of taxes) — applicable on certain transactions; may be collected upfront or in the first EMI. |
| Bounce Charges | ₹500 per bounce — applicable if an EMI payment fails due to insufficient funds or other reasons. |
| Late Payment Charges | Penal charge at the rate of 36% per annum per installment from the respective due date until the date of receipt of the full installment amount. |
| Annual Maintenance Fee | Not applicable — Bajaj Finserv Insta EMI Card does not have an annual maintenance fee. |
Pros And Cons of Bajaj Insta EMI Card:
Everything has its own pros and cons; the Bajaj Insta EMI Card also has some pros and cons. Let’s know about these:
Pros:
- Instant Access to Credit
- Wide Acceptance
- Flexible Repayment Options
- No Hidden Charges
- Easy Application Process
Cons:
- Processing Fees
- Bounce and Late Payment Charges
- Limited Use for Cash Withdrawals
- Potential Hidden Charges
Conclusion
The Bajaj Finserv Insta EMI Card isn’t just a card; it’s a gateway to making your dreams and desires more achievable. Whether it’s upgrading your gadgets, furnishing your home, or planning that long-awaited trip, this card empowers you to buy now and pay later with ease.
Its flexible EMIs, wide acceptance, and digital convenience make life simpler, but like any financial tool, it comes with responsibilities. Paying your EMIs on time ensures a healthy credit score and keeps your financial journey smooth.
FAQ
1. Que: Is Bajaj Finserv Insta EMI card free?
Ans: Bajaj Finserv EMI Card does not come with hidden charges. You only have to pay a nominal joining fee of Rs 530/- (inclusive of applicable taxes) when you apply for the digital card online.
2. Que: Can I withdraw money from my Instagram EMI card?
Ans: No, you cannot withdraw cash using a Bajaj Finserv Insta EMI Card. The Insta EMI Card is designed for purchasing and converting them into easy installments (EMIs) from partner stores.
3. Que: Can I get a Bajaj EMI card without a CIBIL score?
Ans: No, you generally cannot get the Bajaj Finserv Insta EMI Card without a CIBIL score, as a minimum score of 720 is a key eligibility criterion.