If you are someone who likes shopping and prefers to pay in installments, you may be familiar with the EMI Card concept. An EMI Card is a type of debit or credit card that allows you to buy products or services on EMIs (Equated Monthly Installments). In this article, we will take a look at some of the top EMI cards in India, their features, and benefits, and help you make an informed choice when choosing an EMI card.
Purchasing on Equated Monthly Installments (EMIs) has become a popular way for consumers to afford expensive products without having to pay a lump sum upfront. Shopping on EMIs offers numerous benefits such as interest-free monthly payments, flexible repayment options, no requirement for collateral, and the convenience of availing credit without significant savings. This method enables consumers to avoid the burden of significant debt and maintain their financial stability while still enjoying access to high-end products. Purchasing on EMIs is also a great way to budget expenses and make timely payments. Overall, it provides a convenient and affordable solution for consumers to make significant purchases without the stress of upfront payment.
One of the most significant benefits of EMIs is the lower interest rates that are offered by banks and financial institutions. While credit card companies may charge high-interest rates, EMIs are usually offered at lower rates, making it more affordable for consumers to make significant purchases. EMIs also come with pre-approved credit limits, which allow consumers to make purchases within their given limit without any additional approval requirements. Having a pre-approved credit limit is especially helpful for consumers as it reduces the time and hassle involved in seeking approvals for each purchase. Additionally, it can help keep consumers from overspending beyond their means, as their credit limit serves as a guide for making purchasing decisions. Overall, EMIs provide various benefits that make it a popular and affordable way for consumers to finance their purchases.
What is an EMI card?
An EMI Card is a payment method that enables you to purchase items on credit and pay for them over a set period of time. It is a popular option for people who want to purchase products that are expensive, but don’t want to pay for them upfront. The payment for the purchase is spread out over a period of time, making it more affordable for the customer.
Top EMI Cards in India
1. Bajaj Finserv EMI Card
This card is offered by Bajaj Finserv, a leading financial services provider in India. The Bajaj Finserv EMI Card is a pre-approved loan that allows you to shop for a wide range of products on EMI without any hassle. With this card, you can shop for electronics, appliances, furniture, and much more, and pay for them in easy instalments. The Bajaj Finserv EMI Card also comes with various offers and discounts, making it a popular choice among shoppers.
Features and Benefits:
– Preapproved loan amount of up to Rs. 2 lakh
– No-Cost EMI options available
– Repayment tenures of up to 24 months
– Wide range of products available for purchase
– Instant approval and minimal documentation
2. HDFC Bank EasyEMI Card
The HDFC Bank EasyEMI Card is a credit card that comes with pre-approved loan offers. This card allows you to convert your purchases into EMIs at the point of sale, making it convenient for you to shop and pay later. The HDFC Bank EasyEMI Card also offers several discounts and cashback rewards that can make your shopping experience a more enjoyable one.
Features and Benefits:
– Pre-approved loan offers that can be converted into EMIs
– Option to choose your repayment tenure
– No additional documentation needed
– Discounts and cashback offers available
– Option to customize your card as per your style and preferences
3. ICICI Bank Instant Platinum Credit Card
The ICICI Bank Instant Platinum Credit Card is a type of credit card that comes with pre-approved loan offers. This card automatically upgrades you to a platinum credit card, helping you enjoy a range of benefits and privileges. It is an ideal card for those who are new to credit and are looking for a hassle-free credit card.
Features and Benefits:
– Instant approval and hassle-free application process
– Pre-approved loan offers of up to Rs. 4 lakh
– No annual fees and zero liability on lost card
– Revolving credit facility available
– Discounts and cashback offers available on purchases made through the card
4. Axis Bank Buzz Credit Card
The Axis Bank Buzz Credit Card is a type of credit card that comes with several discounts and offers on online shopping. This card is designed for people who love to shop online and offers cashback offers and discounts on popular e-commerce platforms.
Features and Benefits:
– Discounts and cashback offers on popular e-commerce platforms
– No annual fees
– No cost EMI options available
– Fuel surcharge waiver
– Up to 10% cashback on Bill payments and recharges
5. SBI Card Unnati
The SBI Card Unnati is a credit card that comes with a range of offers and benefits. This card is designed for people who are new to credit as it does not require any income proof or credit history. This card also offers cashback rewards and discounts on a wide range of products and services.
Features and Benefits:
– No annual or joining fees
– Pre-approved loan offers
– Cashback rewards and discounts available
– No income proof or credit history required
– Secure online transactions
Conclusion
Choosing the right EMI card can help you make your shopping experience more enjoyable and affordable. Each EMI card comes with its own set of features and benefits, and it is important to choose the one that best suits your needs and preferences. While the Bajaj Finserv EMI Card is a popular choice among shoppers, HDFC Bank EasyEMI Card, ICICI Bank Instant Platinum Credit Card, Axis Bank Buzz Credit Card, and SBI Card Unnati are other excellent options to consider. So, do your research and make an informed choice when choosing your EMI card. And if you are considering getting an EMI Card, download the Bajaj Finserv app to make the process fast and hassle-free.
