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Bajaj Finserv EMI Card Honest Review – Is It Right For You?

As most of us know, Bajaj Finserv EMI Card has been in the market for more than a decade. Some people say that this is the best EMI Card in the market, whereas some regret it and some want to take it.

So, in this article, we will find out the truth of the card and present to your the real picture.

Read this article till the end and know the good and bad side of this card and whether you should take this card or not.

Features: Bajaj Finserv EMI Card

  1. You get 3 – 24 months zero cost EMI
  2. EMI limit: Rs. 30,000 to 4 Lakhs
  3. No annual fee if it is used at least once in a year

Pros of Bajaj EMI Card

  1. No annual fee if it is used at least once a year otherwise an annual fee of Rs. 117 will be levied.
  2. Zero-interest on EMIs
  3. Good customer service
  4. Accepted by the majority of e-commerce websites like Amazon, Flipkart, etc. and also it has EMI tie-ups with more than 40,000 offline stores.
  5. Easy to use

Cons of Bajaj Finserv EMI Card

  1. No reward or cash back
  2. It can only be used at locations where Bajaj Finance has an EMI tie-upCash withdrawal is not allowed

Cashback on Bajaj EMI Card

Unfortunately, Bajaj EMI Card holder don’t receive any cashback or rewards

Late Fee

By any chance, if you miss your EMI payment on the due date then you will be charged Rs. 450.

And if the EMI is delayed by 1-2 months, then you will be charged at the rate of 4% penal interest for every month which is around 50% every year.

Requirements: Bajaj Finserv EMI Card

  1. Minimum age: 21 years
  2. CIBIL Score of 750 and above
  3. You should be employed

Does Bajaj Finserv provide no cost EMI?

You must have heard that Bajaj Finserv provides Zero/No-cost EMI. But, is it actually true?

Absolutely no.

Bajaj’s EMI is actually borne by manufacturers like Samsung, and Apple to the Bank.

So, for end consumers like you and me – there is Zero/No-cost EMI.

But still, this card doesn’t have zero cost EMI because Bajaj Finserv charges you the first year Rs. 99 + “Convenience fee”.

Credit Card Vs Bajaj EMI Card

Credit CardBajaj EMI Card
Cash withdrawal allowedCash withdrawal is not allowed
Foreign transaction allowedForeign transaction is not allowed
Interest charged from the very first day of purchaseNo interest charged
Digital wallet integration allowedDigital wallet integration is not allowed
Can be used everywhereCan only be used at locations where Bajaj Finance has an EMI tie-up



Debit Card Vs Bajaj EMI Card

Debit CardBajaj EMI Card
Cash withdrawal allowedCash withdrawal is not allowed
Foreign transaction allowedForeign transaction is not allowed
Interest charged from the very first day of purchaseNo interest charged
Digital wallet integration allowedDigital wallet integration is not allowed
Make the entire payment in one go Do not have to make the entire payment in one go

Takeaways

So, in the end, the question arises should you apply for this card or not?

We believe that the Bajaj EMI card is a very expensive card with lots of strict terms and conditions. Although, you can consider this card if you want to manage your spending in easy EMI installments.

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