From Home Décor to Smartphone Shopping – Shop in No Cost EMIs

The online shopping culture has been on a rise in India over the last decade and the Covid-19 crisis has given this phenomenon an even stronger push. The reason is that during the Covid-driven lockdown, people were forced to stay inside their homes and many of their regular needs were met through online shopping. Even after the lockdown ended, people have been avoiding going out to shop, with social distancing becoming the norm in the new normal. Hence, it is not a surprise that the Indian e-commerce market is projected to surge 84 per cent to $111 bn by 2024. In fact, the Indian e-commerce space is expected to surpass the US to become the second largest e-commerce market in the world by 2034.

These figures are just a reflection of the changing preference among people in the way they shop. Aspirational Indians, especially youngsters, are also adopting the buy-now-pay-later option in a big way .

Buy Now Pay Later

The option to Buy Now and Pay Later eases the financial burden on consumers by enabling them to pay later for a purchase that happens today. This is done by converting the price of the product into small EMIs (equated monthly installments). From the latest smartphone or laptop to home decor items or that new fitness equipment, this feature lets the consumers fulfill their shopping desires in a convenient and affordable manner. Youngsters find this approach more convenient compared to other financing options that could require tedious paperwork. All you need is a few clicks or taps of your finger at checkout and your purchase is converted into No Cost EMIs without any complications.

While this is an extremely convenient feature from a shopper’s point of view, you must be careful about the amount of interest that you are being charged for this facility. Some lenders levy an exorbitant rate of interest along with processing fees. This interest can cost you a lot more than what your purchase is worth, and, in the worst case, land you in a debt trap.

Choose a better option – Bajaj Finserv EMI Network Card

Instead of worrying about the interest rates being charged by different lenders, you could simply choose the Bajaj Finserv EMI Network Card that offers the same ‘buy-now-pay-later’ facility. Your big purchases get converted to small EMIs without any additional interest charges. So, instead of paying much more than the price of that new phone or that gaming console, you end up paying exactly what the price-tag says.

To illustrate, consider a scenario where you purchase a premium laptop worth Rs 1 lakh and opt for a loan at 12 per cent per annum, to be repaid in 12 EMIs. With a one year term for the loan, you end up paying Rs 1,06,619. So, while you do get the convenience of paying for your purchase in 12 EMIs of Rs 8,885 each, you end up paying Rs 6,619 extra for that facility. On the other hand, if you pay using the Bajaj Finserv EMI Network Card and choose a one year tenure for your payment, you pay only Rs 1 lakh, the actual price of the laptop. Your EMIs are also lower at Rs 8,333.

The best part is that you can use the Bajaj Finserv EMI Network Card to purchase over a million products across one lakh stores, including Big Bazaar, Shoppers Stop, Croma, Reliance Digital and Max Fashion, in over 1,900 cities in India. You can also shop using this card at several online portals like Bajaj Finserv EMI Store, Amazon, Flipkart, MakeMyTrip, Yatra, Paytm Mall, Pepperfry, Goibibo, and many others.

Moreover, as a signing benefit during specified festive periods, you will get an assured cashback of Rs. 500 on successful digital activation of the card. You will also get a range of offers at the EMI Store when you opt for the Bajaj Finserv EMI Network Card.

To add to the convenience of digital shopping, you don’t even have to worry about carrying the physical card everywhere. This is because you can access the digital version of the card through the Finserv MARKETS App. In terms of functionality, the physical and the digital versions of the card offer exactly the same features. Hence, you do not miss-out on any benefit even if you do not carry the physical card.

How to get the Bajaj Finserv EMI Network Card

Although you can get this card offline, you also have the choice of conveniently applying for it digitally from the comfort of your home without the need to make any physical visits. You can get it in just a few easy steps with a 100 per cent digital process and your card gets activated instantly. Here is what you need to do:

  • Log in to the Finserv MARKETS website or download the Finserv MARKETS App.
  • Go to Cards->EMI Card and click on Apply Now to reach the Bajaj Finserv Login Alternatively, click on Get Card on the mobile App.
  • Fill out a short form to check your eligibility.
  • Pay a card fee of just Rs 530 (Rs 449 + 18% GST).
  • You will get a SMS to view your digital card on the Finserv MARKETS App.

If you want to apply for the card offline, you can visit any Bajaj Finserv EMI Network store and fill out the application form. You would also need to submit your KYC documents. On approval, you will receive a User ID and password for the Bajaj Customer portal where you can check the status of your application.

With the pick-up in Covid-19 infections again in the past few weeks, it is critical that we maintain social distancing norms and avoid unnecessary visits outside. In such a situation, you can still fulfil all of your shopping needs using the Bajaj Finserv EMI Network Card right from the convenience and comfort of your home. So what are you waiting for? Download the Finserv MARKETS App and get your hands on the Bajaj Finserv EMI Network Card today!