It's that time of the year again, when Flipkart's New Year Sale hits the online market, providing exciting discounts and deals on a variety of products. This year, the sale is expected to begin in the first week of October and will last for almost a week. However, what sets this year's sale apart is the availability of EMI Card Deals that promise to make shopping a lot easier and affordable.
If you're someone who loves online shopping but struggles with managing EMI payments, the Big New Year Sale might just be what you need. Flipkart's EMI Card Deals not only offer huge discounts and cashbacks but also ensure that you can pay for your purchases in easy installments. Here's everything you need to know about managing EMI payments during the New Year Sale.
1. Choose the Right EMI Plan
Flipkart offers several EMI plans through its partner banks, such as HDFC, SBI, ICICI, and more. These plans can be customized to suit your budget and repayment capacity. It's important to choose a plan that offers the lowest interest rate, as well as a repayment tenure that fits your financial goals. For instance, if you plan to pay off your purchase within a year, opt for a 12-month EMI plan. However, if you prefer a longer repayment period, you can choose a plan that goes up to 24 or 36 months.
2. Check the Eligibility Criteria
Before you apply for an EMI plan, make sure you meet the eligibility criteria set by the bank. This may include factors such as your credit score, income level, employment status, and more. Generally, banks require a minimum credit score of 750 or above to qualify for an EMI plan. Additionally, some banks may have specific criteria based on the type of product you're purchasing. For example, if you're buying a high-end smartphone on EMI, the bank may require you to submit additional documents such as income proof, identity proof, and address proof.
3. Avail the Discount
One of the biggest advantages of using an EMI card during the New Year Sale is the availability of discounts and cashbacks. Customers using an EMI card from partner banks can avail of additional discounts ranging from 5% to 10% on their purchases. This means you can buy your favorite products at a lower price and also save on interest payments. However, make sure to read the terms and conditions carefully, as some banks may offer discounts only on specific products or categories.
4. Plan Your Purchases
To make the most of the EMI Card Deals during the New Year Sale, it's important to plan your purchases in advance. This can involve creating a wishlist of products you're interested in buying, comparing prices across different websites and sellers, and checking customer reviews to ensure the quality of the product. Additionally, make sure to read the EMI terms and conditions carefully before making your purchase, so that you're aware of the interest rate, processing fees, and other charges.
5. Track Your Repayment Schedule
Once you've made your purchase on EMI, it's important to keep track of your repayment schedule and ensure that you pay your EMI installments on time. This can be done through your bank's online portal or mobile app, which will show you your EMI due dates and the amount due. Delayed or missed payments can not only attract penalties but also have an adverse impact on your credit score.
In conclusion, the Flipkart New Year Sale offers a great opportunity to save money and enjoy exciting deals on a wide range of products. By using an EMI card, you can ensure that you don't miss out on the sale, while also managing your finances effectively. However, it's important to choose the right EMI plan, check the eligibility criteria, and plan your purchases carefully to make the most of the offers. So gear up for the New Year Sale and get ready to shop till you drop!