You can easily convert your daily expenses to easy EMIs using a Bajaj Finserv EMI card. Additionally, you can also opt for a loan of up to Rs. 4 Lakhs using these cards. They are mainly of two types, namely, EMI Network Card and Insta EMI Card. If you want to know more about the Bajaj Finserv card eligibility, application process and the benefits they offer, keep scrolling.
Eligibility Criteria for Bajaj Finserv EMI Card
The eligibility criteria to qualify for a Bajaj Finserv EMI card are as follows:
- An individual’s age to qualify for an EMI Network Card ranges from 21 to 60 years.
- Age of an individual to qualify for an Insta EMI Card ranges from 23 to 65 years.
- The applicant should be a citizen of India
- An individual must have a stable income source every month.
- Applicant must have a permanent Indian residence and a valid address proof to justify their claim.
- Applicant must have a current bank account or a savings bank account in India
Once you have fulfilled the eligibility criteria, you can proceed to apply for a Bajaj Finserv EMI card online.
Steps to Apply Online for Bajaj Finserv EMI Card
If you are a new user, the steps to apply for a Bajaj Finserv EMI card online are as follows:
Step 1: Navigate to the official site of the EMI Network Card application page.
Step 2: Click on the “Apply Online” button.
Step 3: Enter the necessary details.
Step 4: Click on ‘Check Your Offer’ to view pre-approved loan offers.
Step 5: Verify your mobile number by entering the OTP.
Step 6: Enter the required details.
Step 7: Click on ‘Proceed’ to check the credit limit
Step 8: Click on ‘Proceed’ to enter the essential KYC details.
Step 9: Verify your KYC details and pay the fees required.
Step 10: Once done, submit the application to activate your EMI card.
If you are an existing customer, you can visit the official website, enter your profession and KYC details, check the pre-approved offer, and pay the fees to activate your EMI card. You should keep your documents ready to fasten the application process.
Documents Required for Bajaj Finserv EMI Card
The documents required to apply for Bajaj Finserv EMI card are as follows:
- KYC documents such as Aadhaar card and PAN card.
- A duly signed ECS mandate
- A cancelled cheque
The above documents are mainly required while applying for an EMI Network Card. However, you will not need any such documents while applying for an Insta EMI Card.
Fees and Charges Associated with Bajaj Finserv EMI Card
The Bajaj Finserv EMI card charges are as follows:
- EMI Network Card Fee: It is a one-time fee you will have to pay during the online application process.
- EMI Card Annual Fee: This fee is charged if you haven’t used the card for over 12 months.
- Add-On Card Fee: You will have to pay this fee on using additional cards.
- EMI Card Mandate Registration Charges: These are charged during the e-registration process.
- Convenience Fee: It is charged to convert expenses into easy EMIs.
- EMI Card Mandate Rejection Charges: You must pay these if you haven’t registered a new mandate within 30 days.
- NACH/ Cheque Bounce Charges for EMI Card: You will have to pay these if you have insufficient funds in your account to pay EMI.
- Penal Interest on EMI Network Card: You will have to pay these fees if you do not pay the EMI before due date.
Additionally, there are several other charges levied, such as EMI Card Loan Enhancement Fees, EMI Network Card Processing Fee, and CIBIL TransUnion Report Fees, which you need to pay in different scenarios. Therefore, you must also take into consideration the features and benefits of an EMI card to decide if it would benefit you.
Features and Benefits of Bajaj Finserv EMI Card
Some features and benefits of a Bajaj Finserv EMI card are as follows:
- You can use this EMI card to shop for over 1.2 million products across a wide range of online and offline stores.
- A credit of up to Rs. 4 lakhs is available on shopping using this EMI card.
- You do not need to provide any document every time you make a purchase.
- You can repay the loan amount flexibly within 24 months from the purchase.
- Purchasing costly items is easier as you do not need to make any down payments for the same.
- You can foreclose your loan on an EMI card without paying extra.
- You can easily monitor the expenses you make using your card via Bajaj Finserv Wallet App
Now that you have a clear idea about Bajaj Finserv card apply online eligibility, documentation and benefits, you can easily decide if you should opt for one. Additionally, you can also apply offline for the EMI card if you find the process easier.