EMI cards have become an integral part of the Indian economy, providing a convenient way for consumers to purchase products without having to worry about the financial burden of paying for it all at once. These innovative financial tools have taken the market by storm, and if you're in the market looking for the best no cost EMI card in India, look no further than the Bajaj Finserv Insta EMI Card.
For those who are unfamiliar with the concept of EMI cards, they allow consumers to purchase items and pay for them in installments, usually with zero or minimal interest rates. This makes it easier for consumers to manage their finances while still enjoying the benefits of the product they have purchased. However, not all EMI cards are created equal, with some offering better benefits than others.
If you're looking for the best no-cost EMI card in India, here are some factors you should consider:
1. Partner network
One of the most important things to consider when choosing an EMI card is the partner network. This is important because the partner network determines where you can use the card, and hence, the benefits you can enjoy. For example, if you're looking for a card that offers EMI options for travel bookings, then the Goibibo EMI option should be high on your list. Similarly, if you're looking for a card that offers EMI options for electronic items, then you should look for a card that has partnered with electronic stores such as Croma or Reliance Digital.
2. Zero or minimal processing fees
EMI cards are supposed to make it easier for consumers to purchase products, and hence, they should not come with high processing fees. The best no-cost EMI cards in India are those that charge zero or minimal processing fees to customers. This ensures that you don't end up paying more than what you would have paid if you had bought the product outright.
3. Interest rates
While most no cost EMI cards come with zero or minimal interest rates, some may still charge interest rates. It is important to read the terms and conditions carefully and compare interest rates across different cards to ensure that you get the best deal.
4. Tenure
The tenure of the EMI is an important factor to consider as it determines the number of installments you will have to pay. Most EMI cards offer tenures ranging from 3 to 24 months. It is important to choose an EMI card that offers a tenure that suits your financial situation.
Now that you know what factors to look for when choosing the best no cost EMI card in India let's look at some of the best options available in the market.
1. Bajaj Finserv EMI Card
The Bajaj Finserv EMI Card is one of the most popular no-cost EMI cards in India. This card has partnered with a wide range of brands and retailers, including Croma, Reliance Digital, and Vijay Sales, among others. The Insta EMI Card comes with a pre-approved limit of Rs. 3 lakh and can be used at numerous avenues – online as well as offline.
The card offers flexible repayment tenures ranging from 1 month to 60 months and comes with no processing fees. In addition, the card also offers instant approvals and pre-approved offers for select customers. Furthermore, when you make your purchase with the Insta EMI Card, you can convert your high-ticket purchases into No Cost EMI. This means that you only pay back the principle amount and do not pay extra in terms of interest.
2. Paytm EMI Card
The Paytm EMI Card is another popular option in the Indian market. The card offers zero processing fees and offers EMI options for a wide range of products, including electronics, appliances, and travel bookings. The card offers tenures ranging from 3 to 12 months and can be used on the Paytm app and website.
3. HDFC Bank EasyEMI Card
The HDFC Bank EasyEMI Card is another popular no-cost EMI card in India. The card offers EMI options for a wide range of products, including electronics, appliances, and travel bookings. The card offers tenures ranging from 3 to 24 months and comes with zero processing fees. In addition, the card also offers exclusive discounts and cashback offers on select purchases.
4. ICICI Bank Coral Credit Card
The ICICI Bank Coral Credit Card is not strictly an EMI card, but it offers EMI options for select purchases. The card offers zero processing fees and offers EMI options for a wide range of products, including electronics, appliances, and travel bookings. The card offers tenures ranging from 3 to 24 months and comes with exclusive discounts and cashback offers on select purchases.
5. Amazon Pay ICICI Bank Credit Card
The Amazon Pay ICICI Bank Credit Card is a relatively new entrant in the Indian market, but it is already making waves. The card offers EMI options for a wide range of products sold on Amazon India. The card offers tenures ranging from 3 to 12 months and comes with zero processing fees. In addition, the card also offers exclusive discounts and cashback offers on select purchases.
In conclusion, choosing the best no cost EMI card in India requires careful consideration of various factors such as partner network, processing fees, interest rates, and tenure. If you're looking for a card that offers No Cost EMI options at numerous avenues ranging from electronics to travel bookings – the Insta EMI Card option is a great choice.