In the fast-paced world of today, owning the latest technology isn't just about staying connected - it's about experiencing innovation first-hand. The Apple iPhone is a symbol of cutting-edge design and functionality. But let's face it, this sleek device often comes with a price tag that can make your wallet wince. That's where EMI options come in handy as they transform those hefty prices into manageable amounts.
With innovative financial solutions like the Bajaj Finserv Insta EMI Card, you can hold that shiny new iPhone in your hands without the immediate financial punch. This is possible by breaking down the cost into smaller, monthly payments.
What is EMI?
To Know What is EMI You Need to Know That a financial concept that divides the cost of a product or service into equal monthly payments. Bridging the gap between your desires and your current budget, EMIs allow you to make significant purchases without emptying your bank account in one go.
When you opt for EMI as a mode of payment, you agree to pay a fixed amount each month for a set period. This amount includes a portion of the principal (the original cost of the purchase) and the interest charged by the lender. As you make these payments, you're gradually paying off your purchase while using it.
For instance, if you buy an iPhone worth Rs. 80,000 on a 12-month EMI plan with an interest rate of 15% per annum, your monthly payment would be around Rs. 7,141. This way, instead of paying Rs. 80,000 upfront, you spread it over a year, making it more manageable for your monthly budget.
Why purchasing an iPhone on EMI makes sense
The iPhone has long been an aspirational symbol of technological prowess and style. Its advanced camera system, powerful processors, and sleek design make it a coveted device for many. However, its premium pricing can often put it out of immediate reach for many consumers.
Buying an iPhone on EMI is a prudent financial decision because it allows you to own a high-end device without compromising your financial stability or dipping into your savings.
Moreover, the EMI route for an iPhone purchase aligns well with the device's longevity. iPhones are known for their durability and long-term software support. By the time you finish paying your EMIs, your iPhone is likely still performing well and receiving the latest iOS updates, ensuring you get value for your money over time.
Bajaj Finserv Insta EMI Card: Your gateway to iPhone ownership
The Insta EMI Card is designed to make your iPhone on EMI purchase smoother than ever with hassle-free EMI transactions online and offline, whichever you prefer. Here's how:
● Instant approval: No need to delay your purchase because of the long wait times generally associated with traditional credit cards or loan approvals.
● Pre-approved limit: Enjoy a generous credit limit of up to Rs. 3 lakh, giving you the freedom to choose from various iPhone models.
● Widespread acceptance: Use the card on any of the major e-commerce platforms, like Amazon and Flipkart, if you prefer online shopping. If you prefer in-store shopping, you can visit any of the 1.5 lakh+ partner stores located in over 4,000 Indian cities.
● Flexible repayment: Choose a tenure that suits your budget, ranging from 1 to 60 months.
Low Cost EMIs: Avoid the high interest rates typically associated with credit card EMI options.
When you're ready to buy your iPhone on EMI, walk into any Bajaj Finserv partner store or shop online. Present your Insta EMI Card during checkout, choose your preferred tenure, and walk out with your new iPhone after making a nominal upfront payment. Your purchase amount will get converted into easy, low-cost EMIs payable over your selected tenure. What's more, if you make your purchase during the festive season, you can avail of zero down payment deals at partner stores. This means you can walk out without any upfront payment.
The perks of choosing the Insta EMI Card
Your Insta EMI Card comes with a wide array of benefits that go beyond just easy payments:
● Enjoy the affordability of low-cost monthly instalments for your purchases.
● Avoid initial payments during festive zero down payment offers at partner stores.
● Use your considerable pre-approved limit for various purchases, not just your iPhone.
● No hidden charges or foreclosure penalties if you decide to pay off your loan early.
● Extended reach and widespread acceptance.
● Improve your credit score with regular, timely payments of your EMIs.
Each of these advantages is crafted to make your big-ticket purchases both possible and financially prudent. The low-cost EMIs ensure you're not burdened with high interest rates, while the zero down payment offers (when available) allow you to bring home your iPhone without any upfront cost.
The ability to make multiple purchases within your pre-approved limit means you can also pick up accessories or other gadgets to complement your iPhone. And with no hidden charges, you can rest easy knowing exactly what you're paying for.
Moreover, the card's wide acceptance across online and offline stores means you're not limited to specific retailers. This allows you to shop around for the best deals on your iPhone, ensuring you get the most value for your money.
Building a better financial future with the Insta EMI Card
By consistently meeting your EMI obligations, you're not just paying for your iPhone, you're investing in your financial credibility. Each on-time EMI payment positively impacts your credit score. Fixed monthly payments help you budget better and develop good financial habits. A good repayment history can lead to better financial products and loan terms in the future, whether you're looking for a home loan, car loan, or any other form of credit.
Getting started with your Insta EMI Card
Eligibility criteria and document requirements
Applicants must:
● Be Indian nationals
● Be between 21 and 65 years of age
● Have a regular income source
● Maintain a credit score of 720 or more
● Produce valid PAN and Aadhaar card numbers, proof of address for KYC verification, and bank information for e-mandate registration
Application process
● Online: Visit the Bajaj Finserv website, enter your mobile phone number, complete OTP authentication, and fill in the application form to determine your credit limit. Complete the KYC verification with your Aadhaar card or DigiLocker, and pay the one-time joining fee of Rs. 599. Have your card activated for use after you successfully register the e-mandate.
● Offline: Visit any Bajaj Finserv partner store with the necessary documents for verification. Once approved, pay the joining fee to have your card issued.
Transform how you approach high-value purchases like an iPhone with the Bajaj Finserv Insta EMI Card. Enjoy the benefits of EMI, the prestige of owning an iPhone, and the added advantage of building a solid credit profile. So, why delay? Apply for your Bajaj Finserv Insta EMI Card today and purchase the latest that technology has to offer responsibly.
