Bajaj Finserv EMI Network Card
Bajaj and Trust are synonymous with each other. People still fondly recall the Bajaj brand of scooters and motorcycles. Bajaj brings the same trust and high level of customer service to the finance and insurance sector. Bajaj Allianz Insurance has various products in the life and non-life insurance segments. Similarly, Bajaj Finserv caters to the financial needs of their customers by offering Credit Cards and different kinds of loans such as Personal Loans, Consumer Loans, and Home Loans. One such Credit Card product is Bajaj Finserv EMI Network Card. This card enables people to purchase consumer durable items and pay for the same in equated monthly instalments (EMI).
Why Bajaj Finserv EMI Network Card?
Bajaj Finserv EMI Network Card is similar to the standard Credit Card, as it enables you to purchase consumer durables like AC, TV, mobile phones, laptops, computers, and many more items. It is also possible to book hotel or flight tickets, pay gym membership, and purchase furniture using Bajaj Finserv EMI Network Card. The best aspect of the Bajaj Finserv EMI Network Card is that it allows you to repay the same in easy EMIs. Usually, these EMIs are interest-free EMIs for short tenures ranging from three to nine months. There are options to extend the EMI to 24 months at affordable rates of interest. It is similar to a pre-approved loan. Customers can use this EMI Network Card across 60,000+ Bajaj Finserv partner outlets in more than 1300 cities in India.
Bajaj Finserv EMI Network Card - Features and Benefits
The card has the following features and benefits:
- Pre-approved loan
Depending on your eligibility, Bajaj Finserv EMI Network Card comes with a pre-approved loan offer of up to 4 Lakhs. Customers can use the Bajaj Finserv EMI Network Card to purchase a variety of consumer durable items and other purposes across more than 60,000 Bajaj partner outlets in 1300+ cities.
- Flexible repayment tenures
Bajaj Finserv EMI Network Card allows customers to repay the loan in flexible tenures ranging from 3 months to 24 months (in the multiples of 3).
- Minimum documentation
Apart from the one-time submission of necessary KYC documents, Bajaj Finserv EMI Network Card users do not have to submit any other document at the time of purchase.
- Facility to shop online
The prominent e-commerce platforms like Amazon, Flipkart, PayTM, Samsung, Pepperfry, MakeMyTrip, Yatra, and others accept payment through Bajaj Finserv EMI Network Card.
- No foreclosure charges
Bajaj Finserv offers the opportunity to foreclose the loan after the payment of the first EMI without levying any foreclosure charges.
Bajaj Finserv EMI Network Card - Eligibility
Bajaj Finserv EMI Network Card has simple eligibility norms:
- Applicants should be within 21 to 60 years of age
- A regular source of income is necessary to qualify for this card
Bajaj Finserv EMI Network Card - Documents Required
Applicants should submit the following documents at the time of application:
- PAN Card
- Aadhaar Card
- 1 cancelled cheque
- Duly signed ECS mandate for recovery of instalment
How to Apply for Bajaj Finserv EMI Network Card?
Applying for the Bajaj Finserv EMI Network Card is a straightforward process.
- Walk into any of Bajaj Finserv partner outlets in your city
- Choose the product you wish to purchase
- Submit the essential documents listed above
- Get the approval for your Bajaj Finserv EMI Network Card instantly
- Get the virtual Bajaj Finserv EMI Network Card in your Bajaj Finserv Wallet
- Existing Bajaj customers can apply for Bajaj Finserv EMI Network Card online through the customer portal, Experia.
- Check out whether you satisfy the eligibility criteria
- Log in to the customer portal on the official website of Bajaj Finserv
- Go through the loan-related details carefully and apply for the Bajaj Finserv EMI Network Card
Bajaj Finserv EMI Network Card - Where to Use
Bajaj Finserv has tie-up arrangements with more than 60,000 partner outlets spread over 1300 cities in India. Walk into any of these stores and inform the dealer of your intention to use Bajaj Finserv EMI Network Card for your purchases. Select the consumer durable items you want and pay for the same using your Bajaj Finserv EMI Network Credit Card. If your purchase is over the approved limit, you have to pay the difference in cash, cheque, or otherwise.
How to Shop Online on EMI without a Credit Card?
Visit any online e-commerce retail store and check whether Bajaj Finserv EMI Network Card is acceptable for payment. If so, proceed with the purchase. Indicate the mode of payment as Bajaj Finserv EMI Network Card at the time of making the payment. You will get an OTP on your registered mobile number. Enter the OTP to confirm the transaction. Bajaj Finserv will send an SMS confirming the purchase and indicating the amount of EMI that you have to pay for the selected tenure.
Bajaj Finserv EMI Network Card - Charges
- Joining fee: 412
- Annual fees: 117 including GST
- Processing fees: Depends on the product purchased on the EMI Network.
- Air conditioner, refrigerator, microwave: 549 + applicable taxes
- Washing machine: 649 + applicable taxes
- Laptops, tablets, smartphones: 749
- Camera: 767
- Lifecare Treatments
- Eye care, laproscopy, hair restoration, bariatric surgery, and others: 767
- Home, Kitchen, and Furniture
- Furniture, mattress, home decor, and others: 767
- Modular kitchen: 1017
- Sports, Fitness, and Travel
- Sports & fitness equipment: 767
- Flight tickets & holiday packages: 479
- Men's Fashion/ Women's Fashion
- For transaction up to 9,999: Convenience fee of 49 + applicable GST
- For transaction of 10,000: Convenience fee of 99 + applicable GST
- Over limit fee: applicable 49 + GST (on transaction of more than the card limit)
Bajaj Finserv - Other Products
Apart from Bajaj Finserv EMI Network Card, Bajaj Finserv offers the following products to its customers.
- Bajaj Finserv Credit Card
- Bajaj Finserv Wallet App
- Bajaj Finserv Personal Loan
- Bajaj Finserv Business Loan
- Bajaj Finserv Loan against Shares
- Bajaj Finserv Mortgage Loan
- Bajaj Finserv Home Loan
- Bajaj Finserv Lease Rent Discounting
- Bajaj Finserv Gold Loan
- Bajaj Finserv Education Loan on Property
- Bajaj Finserv Two and Three-wheeler Loan
- Bajaj Finserv Loan against Property
- Bajaj Finserv Personal Loan for Self-Employed
Bajaj Finserv EMI Network Card Vs. Credit Card
Credit Cards also allow customers to purchase consumer durables and make the payment in instalments. The Bajaj Finserv EMI Network Card does the same. However, the Bajaj Finserv EMI Network Card has specific features that distinguish it from the Credit Card.
- EMI purchases on a standard Credit Card entail payment of interest along with the principal. Therefore, you end up paying more than the cost of the product you buy.
- The Bajaj Finserv EMI Network Card is a pre-approved loan where you repay the same in instalments without any interest. Thus, you save money on the interest component.
Bajaj Finserv EMI Network Card - Contact Information
- Visit the official webpage of Bajaj Finserv EMI Network Card and search for the Store Locator. Enter the name of your city, product category, product name, and you get the name and address of the partner.
- Contact Bajaj Finserv at 020-39575152
- Email your query to email@example.com
Bajaj Finserv EMI Network Card - Frequently Asked Questions
What is the loan amount on the Bajaj Finserv EMI Network Card?
Bajaj Finserv decides your pre-approved loan amount based on the documents you provide to them. The maximum loan amount on the Bajaj Finserv EMI Network Card is 4 Lakhs.
How do I access my Bajaj Finserv EMI Network Card on the Bajaj Finserv Wallet App?
The Bajaj Finserv Wallet App is available on Google Play Store and App Store. Alternatively, customers can send SMS to 9278066666 to get the download link. Log in to the app using your mobile number and OTP. This app helps you to view your EMI Network Card along with all details such as available loan limit, your open and closed accounts, and the list of stores near you.
Is the Bajaj Finserv EMI Network Card a Credit Card?
No, the Bajaj Finserv EMI Network Card is not a Credit Card. It is a pre-approved loan that you can use to purchase consumer durables, home decor, furnishing, fashion garments, and many more. These cards are valid at select stores having an arrangement with Bajaj Finserv. The highlight of the Bajaj Finserv EMI Network Card is that you repay the loan in EMIs at 0% interest cost.
Is it necessary to make a down payment when I use the Bajaj Finserv EMI Network Card?
It depends on the category of products you wish to purchase. Travel bookings and gym membership plans could require you to make a down payment. Usually, there is no requirement of a down payment when you buy consumer durable items.
Is there any provision to apply for family cards on Bajaj Finserv EMI Network Card?
Yes, it is possible to apply for family cards for up to two family members.
How do I repay the loan availed by me on my Bajaj Finserv EMI Network Card?
You provide an ECS mandate at the time of application of your Bajaj Finserv EMI Network Card. Bajaj Finserv uses this mandate to recover the instalment from the linked account. You receive an SMS alert before the due date. It is your responsibility to fund your account and ensure the payment of the EMI.
Is there any option to foreclose the loan?
Yes, Bajaj Finserv permits foreclosure of the loan after the payment of the first EMI.
Are there any hidden charges and interest on the Bajaj Finserv EMI Network Card?
No, there are no hidden charges. There is no interest, as well. Bajaj Finserv divides the loan amount by the number of instalments to arrive at the EMI amount.
Do I need paying an additional amount to the retailer for any transaction done on the Bajaj Finserv EMI Network Card?
There could be some amounts depending on the products and schemes in force at that particular time.
What is the procedure to follow if I misplace/lose my EMI Network card?
The ideal thing is to block the card by calling Bajaj Finserv at 020-39575152. It can help in preventing misuse of your Bajaj Finserv EMI Network Card. You can also place a request for a new EMI Network card.