How Bajaj Finserv earns money with no-cost EMI?

How Bajaj Finserv earns money with no-cost EMI?

However, for consumers who pay the full amount upfront in cash or through a card, the amount charged is less and the whole amount is kept by the retailer. In this manner, you indirectly pay Bajaj Finance when using the zero EMI option and this is how Bajaj Finserv makes a profit.

Is there any interest on no-cost EMI?

While availing the no-cost EMI facility, you will not have to pay any down payment, processing fee, or an interest. Will my bank charge an interest? Yes, the bank will charge you an interest. However, the interest that they charge will be given to you upfront as a discount at the time of buying the product.

What is the benefit of no-cost EMI?

A no-cost EMI offers you a plan where you can pay for a product or service in affordable monthly installments with zero interest. This means that you are only paying for the total price of the product, with no extra charges.

Is Bajaj finance a zero interest scheme?

The Bajaj Finserv’s No Cost EMI facility helps you convert the cost of your purchase into interest-free EMIs with no additional fees or hidden charges involved. The Insta EMI Card comes with a pre-approved loan of up to Rs. 2 lakh, with a flexible tenor of up to 24 months.

What do you mean by zero down payment?

Zero down payment means that you incur no costs upfront. Your financier pays the entire cost and you repay via EMIs.

How can I settle my Bajaj Finance Loan?

Procedures to Follow When Closing a Personal Loan

1. Highlights.
2. Closing loan account on the due date is called regular closure.
3. Closing the loan account prior to due date is pre-closure.
4. Inform the bank of the type of closure.
5. Ask for NOC (for regular closure) and NDC (for pre-closure)

How can I get a loan with 0 interest?

Where can I get a no-interest loan?

1. Furniture and electronics retailers.
2. Medical providers.
3. Auto dealers.
4. Nonprofit interest-free loans.
5. Ask family or close friend for a loan.
6. 401(k) account loan.
7. A personal loan from a credit union or bank.
8. Credit cards that offer an introductory 0\% APR.

What do you mean by 0 down payment?

Zero down payment means that you incur no costs upfront. Your financier pays the entire cost and you repay via EMIs. It helps you shop without going over your monthly budget.

Can I buy a bike with a Bajaj EMI card?

No, you cannot buy a bike with a Bajaj Finserv EMI Network Card. Can I buy gold with Bajaj Finserv EMI Network card? As per the RBI guidelines, you cannot buy gold using the Bajaj Finserv EMI Network Card. Can we convert Bajaj Finserv EMI Network card to cash?

How does a Bajaj EMI card work?

You will need to visit one of the 60,000+partner stores that are part of Bajaj Finserv EMI Network.

Select your product and swipe your card to pay for your product.

Get your product on easy EMIs.

What is Bajaj EMI card?

Bajaj Finserv EMI Card is a payment instrument with a pre-approved loan amount. It is a smarter way to pay for all your purchases, from electronics and furniture to life care services and groceries on easy EMIs.