Shopping on EMI without credit card is the new talk of the town. Long gone are the days when people actually used to apply for credit cards in order to avail certain benefits and discounts from stores. Nowadays, EMI cards are the new big thing in the market. Whether purchasing a new refrigerator or the latest smartphone, people are giving more and more preference to these cards.
The prime reason behind availing of such cards is the no-cost EMI. A normal credit card would give you this facility for a maximum of six to nine months. However, an EMI card offers the same for a whooping period of two years.
What is an EMI card?
As the term suggests, it is a financial product that allows potential consumers to purchase products on credit and pay them in monthly instalments over a fixed period. Moreover, the repayments are done without any interest amount. This card, which is linked to the customer’s credit limit, is usually offered by only a few financial institutions in our country.
With this card, one can easily purchase items such as electronics, appliances, and even furniture and, therefore, convert the cost of the purchase into simple monthly EMIs.
I availed this card from an application called Bajaj Finserv application. This is because, after thorough and deep internet research, I saw only this application offers such a card.
What are its advantages?
● Easy Financing
This card enables the consumer to convert purchases into simple monthly instalments, making managing all expenses easier. This option is quite useful when one plans to buy expensive items like electronics, appliances etc., without paying the full amount upfront.
● No interest rate
When you plan online shopping on emi without credit card, these cards, they often come with zero interest rates. This is quite beneficial as you have to pay back the amount you actually spent in the beginning.
● Instant Approval
Such cards are pretty easy to obtain if you choose the right platform. One can easily apply for it online and get it within just a few hours. Moreover, it requires minimal basic documentation and quick verification.
● Flexible Repayment
EMI cards offer a lot of flexibility when it comes to repayment. You can easily choose the tenure of the EMI based on your convenience and financial capacity. The tenure usually ranges from 3 months to 36 months.
● Budget Management
By converting the purchases into fixed monthly instalments, these cards help in better budget management. Here, you can easily spread the cost of a purchase over several months, making it more manageable.
Which are the Top Payment Platforms for Shopping Without a Credit Card on EMI?
- Bajaj Finserv
- Snapmint
- InstaCred
- ZestMoney
Out of all these platforms, in my personal opinion, Bajaj Finserv is the best as it has made without credit card emi shopping quite easy. I’m not promoting this brand or anything like that, but this card has a lot of offers attached to it, which helps the consumers a lot. It is highly recommended!
