Enjoy the convenience of flexible repayment tenure with the Insta EMI Card

Enjoy the convenience of EMI card payments from a range of flexible repayment tenures. Manage your finances on your terms.
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Enjoy the convenience of flexible repayment tenure with the Insta EMI Card
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3 min
10th June’23

Shopping on EMIs is your key to affordable shopping. EMIs or Equated Monthly Instalments, as the name suggests, allow you to convert large purchases into easy, manageable monthly instalments. For example, if Vidhi plans to buy the latest Apple MacBook Pro, instead of paying around Rs. 1.3 lakh at once, she can choose the EMI option. By doing this, she will own the MacBook Pro right away without paying the whole amount and pay conveniently in small amounts over a decided repayment tenure.

What is the repayment tenure of the Insta EMI Card

The Bajaj Finserv Insta EMI Card offers flexible repayment tenures. This means you can choose a period between 1 month and 60 months to pay back your EMIs, depending on your convenience. The Insta EMI Card’s flexible repayment tenure allows you to manage your purchases and financial obligations better.

What are the features of the Bajaj Finserv Insta EMI Card

The Bajaj Finserv Insta EMI Card has many features that make it a must-have financial solution for all your purchase needs.

  1. Easy EMIs: The Insta EMI Card allows you to convert your expensive purchases into easy EMIs with minimal interest charges. Instead of a hefty upfront payment, you pay over time in bite-sized instalments.

  2. Flexible repayment tenure: You can choose a repayment period from 1 month and 60 months based on your financial situation, making it easy to manage your monthly expenses.

  3. Zero down payment: The Insta EMI Card benefits are even more pocket-friendly with a zero down payment option on select products while shopping on Bajaj Mall. This benefit lets you make purchases without making any payment upfront.

  4. Easy online shopping: The Insta EMI Card can be used on popular e-commerce platforms like Amazon, Bajaj Mall, Flipkart, MakeMyTrip, and more. Now, you can shop online on multiple platforms and pay for the products in interest-free instalments.

  5. Extensive partner network: The digital card gives you access to over 1 million products from more than 1.5 lakh partner stores across 4,000+ cities, making various products easily accessible.

Check the Insta EMI Card features and benefits

How to apply for Bajaj Finserv Insta EMI Card?

Here are the steps you must follow to apply for the Bajaj Finserv Insta EMI Card.

  • Step 1: Enter your 10-digit mobile number and verify the OTP sent to your phone.

  • Step 2: Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.

  • Step 3: Select your employment type and gender.

  • Step 4: Click on submit to know your card limit.

  • Step 5: Verify your KYC using your Aadhaar Card or DigiLocker.

  • Step 6: Post successful KYC, pay a one-time joining fee of one-time Insta EMI Card Fee.

  • Step 7: Click on ‘Activate Now’ and enter your bank account number and IFSC code to complete the e-mandate process.

  • Step 8: After successful e-mandate registration, your card is ready to use.

After successful e-mandate registration, your Bajaj Finserv Insta EMI Card will be ready for use.

Apply for the Bajaj Finserv Insta EMI Card

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Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked question

What is the maximum repayment tenure of the Bajaj Finserv Insta EMI Card?

The maximum tenure for paying your Insta EMI card instalments is up to 60 months. This means you can divide the cost of your purchases into small monthly instalments spread over two years. The Insta EMI Card’s flexible repayment tenure benefits you immensely while purchasing expensive products. The high cost gets evenly distributed, making repayment easier.

Can we extend EMI tenure?

With the Bajaj Finserv Insta EMI Card, you have the flexibility to choose a repayment period from 1 month and 60 months. However, once the tenure is fixed, it cannot be changed. On certain occasions, we also offer a repayment tenure of 36 months on Bajaj Mall.

What is the maximum tenure for Easy EMI?

The maximum tenure for No Cost EMI varies depending on the product or service being purchased and the terms offered by the seller or financial institution. In some cases, Easy EMI can extend up to 60 months, allowing customers to spread the cost of their purchase over a more extended period without incurring high interest charges.

How does the EMI card repayment tenure work?

The EMI card repayment tenure refers to the duration within which you must repay the purchase amount in equal monthly instalments. It is pre-determined at the time of the purchase, and you can choose a repayment tenure that suits your financial capacity. The total purchase amount is divided into EMIs based on the chosen tenure, making it easier for the cardholder to manage the repayment over time.

What is an EMI card repayment tenure?

An EMI card repayment tenure is the period during which you are required to repay the amount borrowed through the EMI facility. It is determined at the time of purchase and can vary depending on the financial institution and the specific EMI plan chosen by the cardholder.

Can I change the repayment tenure after availing of an EMI card?

In most cases, the repayment tenure for an EMI card purchase is fixed and cannot be changed after availing of the facility. It is essential to carefully choose the tenure that suits your financial capabilities before confirming the purchase.

Are there any benefits to selecting a shorter repayment tenure?

Opting for a shorter repayment tenure can be advantageous for those who wish to repay the borrowed amount quickly.

Are there any advantages to choosing a longer repayment tenure?

Choosing a longer repayment tenure can reduce the monthly EMI amount, making it more manageable for individuals with a tight budget.

Can I prepay or foreclose my EMI card before the chosen tenure ends?

Yes, many financial institutions allow you to prepay or foreclose your EMI card before the chosen tenure ends. However, some lenders may levy prepayment charges, so it's essential to check the terms and conditions before making a prepayment.

How can I calculate the EMI amount for a specific repayment tenure?

The EMI amount can be calculated using the EMI formula: EMI = [P x R x (1+R)^N] / [(1+R)^N-1], where P is the principal amount, R is the monthly interest rate, and N is the number of EMIs. Alternatively, many online EMI calculators are available to help individuals determine their monthly instalments based on their chosen tenure.

What happens if I miss an EMI payment during the repayment tenure?

Missing an EMI payment can lead to late payment charges and adversely affect your credit score. It is essential to ensure timely repayments to avoid any penalties and maintain a positive credit history.

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