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Technology

No-Cost EMI: What is it & how does it work

 Though the concept of EMIs or Equated Monthly Instalments has been around for a long time now, its popularity has significantly grown recently with more and more companies pitching in to offer the provision of purchasing merchandise using EMI’s. These include gadgets, home appliances, furniture, clothes and even flight tickets, among many others. While this has remarkably improved sales, companies are focusing on furthering the convenience parameter by offering the option of No Cost EMI. No cost EMI is a type of EMI which offers you the ease and satisfaction of paying not a rupee more than the purchase price. So what does it entail? No cost EMI divides only the cost of your purchase equally within the repayment tenure of the EMI to calculate the total sum you are expected to pay each month.

 

Benefits of no-cost EMI

To understand how No cost EMI works and how you can reap its benefits, let’s consider an example. Say, you use the No cost EMI option to buy a television that costs INR 60,000, and you adjust the tenure to pay back the amount in 6 months. In that case, you will be required to pay only INR 10,000 per month. The important part is that no amount is charged over and above your purchase price, thus incurring you no additional monthly EMI charges. This is why No cost EMI is often alternately known as zero cost EMI.

 

Where do you get the best offers in no-cost EMI

Now that you are informed about the No cost EMI option as a payment mode, where can you use it to avail the best offers? Several platforms allow you to avail the no-cost EMI facility with your debit or credit card. In addition, some of the popular platforms use a specially designed, easy to use no cost EMI financing option in the form of an exclusive card such as the Bajaj Finserv EMI card. The Bajaj Finance card can be used to shop on a number of online stores including Bajaj EMI store, Amazon, Flipkart, Pepperfry, etc., as well as over 84,200 offline partner stores across 1300 cities in India.

 

No cost EMI and zero down payment on Bajaj EMI Store

The option of No cost EMI using Bajaj Finserv EMI Card is applicable on the Bajaj Finserv EMI Store. The Bajaj EMI Store is a unique online marketplace that lets you buy a wide range of items including home appliances, electronic gadgets, fitness equipment and many more. It also lets you avail a large number of offers and deals as well as benefits like zero downpayment, no cost EMI and same-day delivery. To avail these offers and No cost EMI on Bajaj EMI Store, you need to login to the Bajaj EMI store website and browse through the collection. Once you have chosen the product, proceed with the payment process by selecting the EMI tenure and confirming your address and hit buy.

No Cost EMI is an effective way to tick items off your wishlist today while paying for them later. Opt for this unique advantage before your next shopping spree.

 

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