What is No Cost EMI?
You might have heard the term, No Cost EMI, hundreds of times online and must be wondering what it means. Well, No Cost EMI simply means no interest on your payable EMIs. In other words, no EMI cost means that zero cost EMI is charged in addition to the total cost of that product.
Bajaj Finserv EMI Network Card comes with the feature of No Cost EMI and it does not charge you any additional interest or charges on any of your purchases. Read more to understand the meaning of no cost EMI better.
How does No Cost EMI work?
In September 2013, RBI released a circular which prevented the lenders from charging any extra interest on consumer loans. Thus, the term No Cost EMI was introduced. It meant that whenever you purchased a product and opted for no cost EMI, the total EMI you would pay on that specific purchase is deducted from the price of the product without any additional interest being levied. As a result, the zero cost EMI translates as a discount on product cost equivalent to the interest that would have been charged on the product.
Where can you use it?
The No Cost feature can be used with the Bajaj EMI Card. The Bajaj Finserv EMI Network Card is an exclusive partner EMI Card which comes with a pre-approved limit of Rs. 1.5 Lakhs. It allows you to purchase your favorite products at No Cost EMIs.
The No Cost EMI feature can be used with the Bajaj Finserv EMI Network card on online portals such as the Bajaj Finserv EMI Store. It can also be used on e-commerce websites such as Amazon, MakeMyTrip, Flipkart, Yatra, Paytm Mall, Samsung, Pepperfry, Goibibo, etc. The Bajaj Finserv EMI Network card is also applicable at over 84,200+ Bajaj Finserv partner stores across 1300+ cities.
Benefits of No-Cost EMI
Pre-approved loan limit of up to ₹1.5 lakhs.
Continuous access to exclusive offers for Bajaj Finserv EMI Network Card holders.
Convenient repayment tenures ranging from 3–24 months.
Zero foreclosure charges or interest.
No cost EMI benefit on a huge range of appliances.
Eligible in 84,000+ partner stores in 1300+ cities.
In short, the Bajaj Finserv No Cost EMI feature on the Bajaj Finserv EMI Network Card lets you make worry-free purchases on a large range of products. Don’t wait! Apply for your Bajaj Finserv EMI Card today and get premium shopping experience.