Is Buying Electronics on EMI the Smartest Way to Go?

Undoubtedly, buying electronics on Equated Monthly Instalment (EMI) is one of the smartest decisions you can make. Be it a laptop, smartphone, fridge or any other electronics, they are all available on EMIs. To buy electronics on EMI, you either need a credit card or an EMI card. 

However, not everyone owns a credit card due to a few cons that come with it, such as a higher rate of interest and a short period of no-cost EMIs.

I personally believe that if you are planning to purchase electronics on EMI, then an EMI card is the way to go. I’ve been using it for quite a while now, and it is just amazing.

What is an EMI card?

It is a card which works as a pre-approved loan helping you to purchase any durable and lifestyle product you desire. It is one of the most popular and effortless ways of making purchases, as it makes the entire purchasing process seamless. Currently, it is one of the most trending ways to buy electronics on EMI. When you buy an EMI card in India, remember that it can be used for both online and offline purchases. 

It’s been around two and a half months since I availed of this card to purchase a new gaming laptop. It was priced at Rs 98,999. Is there any point in giving this hefty amount in one go when you can pay some part each month without any interest amount? So the next time someone asks you how to buy electronics on EMI without credit card, guide them about this card. 

What is the difference between both cards?

An EMI card is a pre-approved loan in your wallet, and you can use the loan facility to purchase any product of your choice. On the other hand, a credit card is an instrument issued by a financial institution that lets you purchase products on credit where the interest rate charges are usually very high.

While the credit card offers a maximum of six months of no-cost EMI, the EMI cards provide a lot more time period. Further, for an EMI card, there are some simple eligibility requirements, while for a Credit card, it is mandatory to have a good credit score. 

So, when it comes to EMI cards, you’ll only come across the Bajaj EMI card. When I heard about these cards, I went on the Internet to look up the best one and landed up at Bajaj only. So, I’ll only share some of its benefits here. Undoubtedly, longer tenure for EMI repayment without any interest is one of the best things this card offers. And if you have a question such as ‘How to buy electronics on emi without credit card’ in your mind, EMI cards is the answer.

  • Flexible Repayment Tenure

It allows repayment within a flexible tenure varying from 3 to 24 months. 

  • E-wallet

You can also use this card digitally on the Bajaj Finserv Wallet App, which will help you make in-store payments via the app only. So, you don’t have to carry it everywhere like a credit card.

  • Pre-approved loan

It comes with a pre-approved loan amount of Rs 2 lakh.

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