5 Reasons Why Shopping Without Credit Card EMI Is the Smart Way to Go

Ever since the concept of Equated Monthly Instalment (EMI) came into play, the entire shopping experience has completely transformed. You can easily purchase almost anything from appliances to gadgets to even apparel on EMI. 

Look around you. Most of the gadgets or appliances are financed through the no-cost EMI route. This is because of the convenience and ease that comes with it. This route has enabled many people who were postponing their buying to come into the market right now. 

However, the most popular way to purchase EMI products is via a credit card. But is it worth it? If you purchase products via a credit card, it means interest! So, this might not be a smart way to go with it. And it’s not compulsory that everyone has a credit card. 

So, what’s the alternative here if you are planning shop on EMI without credit card? An EMI card. I’ve personally used one and will share my experience for a better understanding of all the readers. 

What is an EMI card?

It is a card which works as a pre-approved loan helping you to purchase any lifestyle and durable product of your choice. Nowadays, it has become a popular way of making purchases as it makes the complete purchasing cycle pretty smooth. When you plan shopping on EMI without credit card, that is when these EMI cards come into play. Remember, they can be used for both online and offline purchases.   

It’s been around three months since I availed of this card to purchase a new laptop. Then, it was priced at Rs 1,19,000. Now, think to yourself, is there any point in giving this hefty amount in one go when you can pay some part each month without any interest? 

What is the difference between an EMI card and a Credit Card?

EMIs are accessible from both an EMI card as well as a Credit Card. But, there is a slight difference between them, which is very important to understand. 

An EMI card is a pre-approved loan in your wallet, and you can use the loan facility to purchase any product of your choice. Mostly, there is no interest here. Whereas a credit card is an instrument that lets you purchase products on credit where the interest rate charges are usually high.

While most credit cards offer a maximum of six months of no-cost EMI, EMI cards offer a lot more. Moreover, for an EMI card, there are certain simple eligibility requirements, while for a Credit card, it is mandatory to have a good credit score. So, it is highly recommended to opt for without credit card EMI shopping and instead go for the EMI one. 

What are the benefits of an EMI card? 

Here, I’d like to share that I got the EMI card from Bajaj Finserv, so I’d share my experience. See, when you’ll even search for the best EMI card on your search engine, you’ll ultimately land on their app only. This is because they are the best in the industry.

(Note: This is not promotional content. I’m not endorsing any brand or organization.)

  • E-Wallet

You can also use this card digitally on the Bajaj Finserv Wallet App, which will help you make in-store payments via the app, and you’ll not have to carry your card everywhere.

  • Flexible Repayment Tenure

It allows repayment within a flexible time period varying from 3 to 24 months. 

  • Pre-approved loan

It comes with a pre-approved loan amount of Rs 2 lakh. 

How to get an EMI card in India?

  1. Download the Bajaj Finserv application on your phone
  2. Once you log in, you’ll see the option for EMI Network Card under the ‘Products for you’ section on the homepage
  3. Tap on it and click on Get it now
  4. Enter all the details and proceed further

Remember, not anyone can just randomly go for this card as there are certain checkpoints to avail of this service. Firstly, your age should be between 21 to 60 years. Secondly, the most important one is that you should have a regular income source. So, remember, if you are planning to go without credit card EMI shopping, an EMI card is the way to go. 

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