EMI Card Network

[chinnodu]

I got a WhatsApp ad message about Bajaj credit Card. Network of the Card shows EMI. Is there any such new card Network?

Can educate more about it please

 

[helloworld]

https://www.bajajfinservmarkets.in/emi-card/bajaj-finserv-emi-network-card-faqs

btw, not good card.

 

[Adwait]

Can anyone using emi card confirm if bajaj creates new loan account in cibil for every purchase or the single account continues

 

[pinki]

Can anyone using emi card confirm if bajaj creates new loan account in cibil for every purchase or the single account continues

Different loan account for every purchase.

I was the user earlier

 

[suhasa010]

Well, is it a new network or just a Visa wrapper?

 

[helloworld]

Well, is it a new network or just a Visa wrapper?

- u visit electronics store and there is a stall who provide instant emi for your purchase..

to do that,

- you need to submit your income docs
- you need to submit your address proofs
- etc. if anything needed.

- next time if you visit the same store or different store there is a stall but again you have to provide all documents.

they come up with easy solution, take required docs at once and provide you pre-eligibility amount along with one account number.

next time when you visit the store, you just have to submit the account number to opt for emi purchase instead submitting all documents.

---

If they print that account number in PVC card with bank logo, that is the above image. and infact its equal to account number written on a peace of paper, instead here you have printed it on plastic card.

so, its a xerox work rather actual network.. do not assume its a credit card.

 

[suhasa010]

- u visit electronics store and there is a stall who provide instant emi for your purchase..

to do that,

- you need to submit your income docs
- you need to submit your address proofs
- etc. if anything needed.

- next time if you visit the same store or different store there is a stall but again you have to provide all documents.

they come up with easy solution, take required docs at once and provide you pre-eligibility amount along with one account number.

next time when you visit the store, you just have to submit the account number to opt for emi purchase instead submitting all documents.

---

If they print that account number in PVC card with bank logo, that looks like in above image. and infact its equal to account number written on a peace of paper, instead here you have printed it on plastic card.

so, its a xerox work rather actual network.. do not assume its a credit card.

Wow. Interesting.
Thank you.

 

[Anshit]

Bajaj Finserv forces this card to everyone who buys anything on EMI from them, They give you a limit on it for your next EMI purchase with them, it is pretty useless because if you go next time the Bajaj Finserv will determine the EMI and down payment based on your CIBIL regardless the amount on the card, The worst part is they will charge you a fee if you don't make purchase in stipulated amount of time but I guess you can ignore the fee...

 

[praful47]

I got a WhatsApp ad message about Bajaj credit Card. Network of the Card shows EMI. Is there any such new card Network?

Can educate more about it please

This is a Bajaj finserv EMI card which is also known as No Cost EMI Card .
This card can be used for online and offline purchase both and purchase can be converted into easy EMI .
One can apply this card on their website and based on cibil , age , and employment limit is provided ( no doc required) .
If one applies there is one time joining fee which is 590 and additional NACH activation charges .

*Remember for every new purchase NACH activation charges is required to be paid .

If one don't use this card for a year then 99-199 something charge is to be paid .

If you don't have any credit card then you can take this otherwise no use .

 

[helloworld]

If you don't have any credit card then you can take this

even then there are better alternatives. one simply can't take loan card, its burden to their financials and ruin cibil.

 

[praful47]

even then there are better alternatives. one simply can't take loan card, its burden to their financials and ruin cibil.

Just for knowledge... What alternatives ?

 

[helloworld]

Just for knowledge... What alternatives ?

for starters idfc wow, remaining depends on income, existing cibil score (if any), relationship with bank. but never opt for loans provided by apps, emi cards to begin.

- Onecard
- Axis Airtel
- HDFC Moneyback+
- SBI SimplyClick

 

[praful47]

for starters idfc wow, remaining depends on income, existing cibil score (if any), relationship with bank. but never opt for loans provided by apps, emi cards to begin.

- Onecard
- Axis Airtel
- HDFC Moneyback+
- SBI SimplyClick

That's what I told if you don't have any cc you can take Bajaj emi card

 

[helloworld]

That's what I told if you don't have any cc you can take Bajaj emi card

never opt for loans provided by apps, emi cards to begin.

. . .

 

[chinnodu]

This is a Bajaj finserv EMI card which is also known as No Cost EMI Card .
This card can be used for online and offline purchase both and purchase can be converted into easy EMI .
One can apply this card on their website and based on cibil , age , and employment limit is provided ( no doc required) .
If one applies there is one time joining fee which is 590 and additional NACH activation charges .

*Remember for every new purchase NACH activation charges is required to be paid .

If one don't use this card for a year then 99-199 something charge is to be paid .

If you don't have any credit card then you can take this otherwise no use .

Nicely explained the pros and cons

 

[praful47]

Nicely explained the pros and cons

If you found this useful ... Please mark it a solution.

 

[chinnodu]

If you found this useful ... Please mark it a solution.

How to mark it as solution?