EMI Card Eligibility

Everything You Need to Know About EMI Card Eligibility Criteria

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EMI Cards, also known as equated monthly instalment Cards, are becoming an increasingly popular method of payment in India. EMI Cards allow customers to make purchases and pay for them in easy monthly instalments without burdening their finances. However, getting an EMI Card is subject to certain eligibility criteria, depending on the financial institution. In this article, we will cover everything you need to know about EMI Card Eligibility Criteria, including who provides EMI Cards, which ones are the best and a comparative analysis of all the EMI Cards available in the Indian market.

Are EMI Cards available in India?

Several financialinstitutions provide EMI Cards for their customers in India. Some popular EMICards providers include:

  1. Bajaj Finserv EMI Card
  2. HDFC Bank EMICard
  3. ICICI Bank EMICard
  4. SBI Card Flexipay
  5. Kotak Bank EMICard
  6. Axis Bank EMICard
  7. Yes Bank EMI Card
  8. StandardChartered Bank EMI Card

Which are the bestEMI Cards, and which ones are top selling?

The best EMI Cardfor you will depend on your needs and the offers provided by the financialinstitution.However, some EMI Cards are popular and offer some of the bestdeals.

1. Bajaj FinservEMI Card

Bajaj Finserv EMI Card is a top-selling EMI Card in India. This card provides easy payment options on a wide range of products, from electronics to furniture. Cardholders can avail of this card with minimal documentation, and the application process is straightforward.

2. HDFC Bank EMI card

HDFC Bank EMI Card is one of the top-selling EMI Cards. This cardprovides easy instalment options and attractive cashback offers.

3. ICICI Bank EMI card

ICICI Bank EMI Card is another popular EMI Card offered by ICICI Bank.Customers can avail of thiscard to pay for various products, from electronicsto home appliances.

4. SBI CardFlexipay

SBI Card Flexipay is a flexible EMI Card that provides easy repaymentoptions to customers. Thecardholders can avail of this card for purchasinga wide range of products.

Comparativeanalysis of all the EMI Cards available in the Indian market

While various financial institutions offer EMI Cards, some differences set them apart. Here’s a comparative analysis of the EMI Cards offered by different banks.

1. Bajaj FinservEMI Card

Bajaj Finserv EMI Card allows you to convert your purchases into easy monthly instalments, ranging from 3 to 24 months. Cardholders can choose tenures at their convenience and avail of this card at no cost. The card also offers pre-approved offers and discounts on partner outlets.

2. HDFC Bank EMI Card

HDFC Bank EMI Card provides the option of converting purchases into easymonthly instalmentsranging from 3 to 12 months. The Cardholders can avail ofthis card with minimal documentation and nodown payment. The card also offersdifferent discounts and cashback offers.

3. ICICI Bank EMI Card

ICICI Bank EMI Card provides various instalment options ranging from 3to 48 months. The card also offers zero-cost EMI options on selected productsand brands.

4. SBI CardFlexipay

SBI Card Flexipay provides easy EMI options available on big-ticketpurchases like electronics,home appliances, etc. The cardholders can choosetheir repayment tenure ranging from 6 to 36 months.

5. Kotak Bank EMI Card

Kotak Bank EMI Card is a zero per cent interest card that allows cardholders to convert their purchases into easy instalments. The cardholderscan also choose tenures ranging from 3 to 18 months.

6. Axis Bank EMI Card

Axis Bank EMI Card provides the option of converting purchases into easyEMIs range from 3 to 12months. The cardholders can avail of this card freeof charge and enjoy no-cost EMI options on selected products and categories.

7. Yes Bank EMI Card

Yes Bank EMI Card allows cardholders to choose from variousinstalment options, ranging from 3 to 12 months. The cardholders can avail ofthis card with minimal documentation and no down payment. The card alsoprovides cashback and discount offers.

8. StandardChartered Bank EMI Card

Standard Chartered Bank EMI Card allows thecardholders to choose tenures ranging from 3 to 24 months. The cardholders canconvert their purchases into easy EMI options with minimal documentation.

Top-selling EMI card- Bajaj Finserv EMI card criteria and how to apply?

Step 1: Check your eligibility

The Bajaj FinservEMI Card is available to both existing and non-existing customers of the

institution. However, certain eligibility criteria must be met.

  • You must bebetween the ages of 21 and 60 years old.
  • You must have a regular income source that can be verified.
  • You must have agood credit score.

Step 2: Fill outthe application form

Once you haveconfirmed your Bajaj Finserv EMI Card eligibility, you can proceed with the application process. There

are two ways to apply for the Bajaj Finserv EMI Card:

Option 1: OfflineApplication

Visit any BajajFinserv branch and fill out an application form. You will need to provide some

documentation such as your PAN card, Aadhaar card, and a cancelled cheque.

Option 2: OnlineApplication

Another convenientway to apply for the Bajaj Finserv EMI Card is through the Bajaj Finserv App.Follow these simple steps:

  1. Download theBajaj Finserv App from the Google Play Store or the App Store.
  2. Register on theapp using your mobile number or email address.
  3. Navigate to the’EMI Card’ section and click on ‘Apply Now.’
  4. Fill out the application form with your personal and financial details.
  5. Upload thenecessary documents such as your PAN card, Aadhaar card, and a cancelled cheque.
  6. Review yourapplication and submit it.

Step 3:Verification and Approval

Once you have submitted your application, it will be reviewed by Bajaj Finserv. If yourapplication is approved, you will receive an SMS or email confirming your eligibility for the EMI Card. You will thenreceive a physical card in the mail within 7-10 business days.

Alternatively, ifyou applied through the Bajaj Finserv app, you may receive a digital EMI Cardwithin 24hours of approval. You can activate this digital EMI card by followingthe instructions on the app.

 Conclusion

EMI Cards are anexcellent way to finance purchases and make purchases more affordable andmanageable. The eligibility criteria vary from bank to bank, but one shouldconsider carefully beforeavailing of any Card. Bajaj Finserv EMI Card, HDFCBank EMI and ICICI Bank EMI Card are some of thetop-selling EMI Cards. Itsbenefits vary from bank to bank but analyzing all the available EMI Cardsbefore making a choice is essential.

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