Online shopping has become one of the most preferred modes of shopping in the world today. The convenience and ease that comes with online shopping have made it a preferred option for most people. Unfortunately, not everyone can afford to buy what they need in one lump sum payment. That is why the Bajaj Finserv Insta EMI Card has become the gateway to convenient shopping for millions of people.
Bajaj Finserv Insta EMI Card is a payment solution that lets customers buy what they want online on easy EMIs. With the Bajaj Finserv Card Online, customers can shop hassle-free and convert their purchases into EMIs with just a click of a button. In this article, we will take a closer look at the Insta EMI Card and how it works.
What is the Bajaj Finserv Insta EMI Card?
The Bajaj Finserv Insta EMI Card Online is a digital payment card that allows customers to shop online on easy EMIs. With the Bajaj Finserv Card Online, customers can pay for their purchases in easy EMIs ranging from 3 months to 24 months.
The card comes with a pre-approved loan that customers can use to pay for their purchases. The loan is added to the customer’s credit limit, which gives them the flexibility to shop more. Customers can enjoy interest-free EMIs when they pay their dues on time.
How does EMI calculation work?
EMI stands for Equated Monthly Installment. It is the amount you pay every month to repay your loan. The Bajaj Finserv Insta EMI Card Online offers easy EMI options ranging from 1 month to 60 months.
The EMI amount is calculated based on three factors - the loan amount, the interest rate, and the tenure. The formula for EMI calculation is as follows:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where P is the loan amount, R is the interest rate per month, and N is the tenure in months.
Let's assume that you want to buy a smartphone that costs Rs. 20,000. If you opt for a 6-month EMI plan at an interest rate of 15%, the EMI amount will be calculated as follows:
EMI = [20000 x 0.0125 x (1+0.0125)^6]/[(1+0.0125)^6-1]
= Rs. 3,560.15
In this scenario, the EMI amount will be Rs. 3,560.15 for six months.
Benefits of the Bajaj Finserv Insta EMI Card
There are several benefits of using the Bajaj Finserv Insta EMI Card for shopping. Some of the key benefits include:
1. Faster approval: The Bajaj Finserv Insta EMI Card Online comes with fast approval, which means that customers can complete their purchase and get approved in a matter of minutes.
2. EMI options: The Bajaj Finserv Insta EMI Card Online offers easy EMI options ranging from 1 month to 60 months. Customers can choose the tenure that suits their budget and pay for their purchases conveniently.
3. Interest-free EMIs: Customers can enjoy interest-free EMIs if they pay their dues on time. This makes it easier for customers to plan their budgets and pay for their purchases without any worries.
4. Flexible repayment options: The Bajaj Finserv Insta EMI Card offers flexible repayment options, which means that customers can make part payments or pre-pay their loans without any penalty charges.
5. Easy to use: The Bajaj Finserv Insta EMI Card Online is easy to use, and customers can convert their purchases into EMIs with just a click of a button.
6. Wide range of products: Customers can use the Bajaj Finserv Card Online to buy a wide range of products, including electronics, appliances, furniture, and even travel bookings.
How to use the Bajaj Finserv Insta EMI Card Online for shopping?
Using the Bajaj Finserv Insta EMI Card online for shopping is easy. Here's how to use it:
Step 1: Apply for the card: Customers can apply for the Bajaj Finserv Card Online by visiting the Bajaj Finserv website.
Step 2: Get approved: Once the application is submitted, customers will receive an instant approval decision.
Step 3: Shop: Customers can shop on any online store that accepts the Bajaj Finserv Card Online as a payment option.
Step 4: Convert to EMI: At the time of checkout, customers can choose to convert their purchases into EMIs.
Step 5: Select the tenure: Customers can select the tenure that suits their budget and pay for their purchases conveniently.
Step 6: Pay: Customers can pay their EMIs through the Bajaj Finserv website, mobile app or through auto-debit.
Conclusion
In conclusion, the Bajaj Finserv Insta EMI Card is a payment solution that has revolutionized the way people shop online. With its easy EMI options and fast approval, customers can shop hassle-free and pay for their purchase in convenient instalments. Whether it's electronics, appliances, furniture or travel booking, the Bajaj Finserv Card Online is your gateway to convenient shopping.