Introduction:
Managing personal finances is an essential part of any individual’s life, and with the increasing demand for digital payment modes, using an EMI card in India has become one of the smartest ways to manage your finances efficiently. An EMI card is a financial tool that helps you divide the cost of your purchases into equated monthly instalments (EMIs), making your shopping experience stress-free and affordable.
Bajaj Finserv is one of the leading financial service providers in India that offers an EMI card with several unbeatable benefits. The Bajaj Finserv EMI card allows customers to buy products on easy EMIs, with or without paying any down payment at the time of purchasing any product.
In this article, we will discuss some tips and tricks for using the EMI card smartly to manage your finances efficiently
Benefits of EMI Card:
Before we discuss the tips and tricks, let’s list down some of the benefits of an EMI card.
1. Easy repayment – The EMI card allows you to divide the cost of your purchases into smaller EMIs, making the repayment process easy, hassle-free and affordable.
2. No or Less down payment – With the Bajaj Finserv EMI card, you don’t have to pay any down payment, reducing the burden of paying a lump sum amount upfront. Subject on certain products, even if required to pay a down payment, the amount is generally low.
3. Multiple options – The EMI card offers multiple EMI options, allowing you to choose the amount and tenure of your EMI. You can choose from different repayment tenures go for what suits your requirement the best.
4. Quick processing – The processing of an EMI card is quick and easy. You can get your card within minutes of applying based your pre-approved offer, documentation and CIBIL Score.
5. Offers and discounts – Many online and offline retailers offer special exclusive discounts and cashback offers on using the EMI card for payments.
Tips and Tricks for Smart Usage of the EMI Card:
Now that we have understood the benefits of an EMI card, let’s discuss some tips and tricks for using the EMI card smartly and managing your finances efficiently.
1. Manage your expenses:
The first step in managing your finances efficiently is to track your expenses. Make a list of your regular expenses like rent, bills, groceries, etc., and categorize them as essential and non-essential expenses. This will help you understand your spending habits and plan your budget accordingly.
2. Make a budget and stick to it:
Once you have a clear idea of your expenses, make a monthly budget and track it. Identify the areas where you can cut down on expenses and allocate a fixed amount for each category. Stick to your budget and try not to overspend.
3. Use the EMI card wisely:
The EMI card is a great tool for managing your finances, but it can also lead to overspending if not used wisely. Before making a purchase on EMI, calculate the EMI amount, interest rate, and other charges. Choose the EMI option that suits your budget and repayment capacity. The Bajaj Finserv App calculates the EMI on the products for you so you can make an informed decision and choose a tenure that best suits your needs.
4. Avail of the offers and discounts:
Many online and offline retailers offer special discounts and cashback offers on using the EMI card for payments. Avail of these offers to save money on your purchases.
5. Pay on time:
Make sure to pay your EMI on time to avoid any penalty charges. Late payments not only lead to additional charges but also affect your credit score negatively.
The Bajaj Finserv App is an all-in-one financial tool that allows you to manage your finances smartly. Here are some features of the app that make it a smart choice for managing your finances:
1. Easy EMI payments:
The Bajaj Finserv app allows you to make EMI payments hassle-free. You can check your EMI details, payment history, and payment due dates on the app. You can also set reminders for your monthly payments so that you don’t miss out on the due date and avoid delay charges if any.
2. Instant loan approvals:
The app offers instant loan approvals for personal loans, home loans, and business loans. You can apply for a loan on the app and get approval within minutes based on certain factors such as your cibil Score and documentation.
3. Credit score monitoring:
The app allows you to monitor your credit score regularly. A good credit score helps you get better loan offers and interest rates. You can check your score for free and also get a detailed credit health report on the app which will show you how you can improve your credit health and avail more pre-approved offers on the app in just a few clicks.
4. Bill payments:
You can pay your bills for utilities, mobile recharge, and DTH recharge on the app without any hassle and also earn cashback vouchers, exclusive Bajaj Coins and more rewards.
5. Investments:
The app offers a range of investment options like fixed deposits, mutual funds, and SIPs. You can choose the investment option that suits your financial goals and risk appetite.
Conclusion:
Using an EMI card in India is a smart way to manage your personal finances. By following the tips and tricks discussed in this article, you can use the EMI card wisely and plan your finances efficiently. The Bajaj Finserv App is an excellent financial tool that offers multiple features, making it a smart choice for managing your finances. The app caters to all your financial requirement right from investments, loans, insurance, shopping online, booking travel tickets online and also ordering food online at amazing deals and discounts. Download the app today from Play Store or App Store and take control of your finances efficiently.
