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Let’s start with No-Cost EMI and then we will come to Bajaj No-Cost EMI. Accordingly, No-Cost EMI is a type of the term ‘EMI’ wherein the key difference is, No-Cost EMI doesn’t levy any charges from the card user financing their purchase on EMI.
For instance, if you use a credit card to pay for a particular product let’s say a Washing Machine, you always end up paying more than the original price of the product. Basically, when you use a credit card or a debit card, you take a consumer durable loan at a specified interest rate. Thus, you pay the interest as well as the actual cost of your product.
However, when you use a Bajaj Finserv EMI card and take a consumer durable loan for financing your purchase, the loan is offered to you at 0% interest means no-cost EMI. Thus, you pay not a single penny more than the actual cost of the product to Bajaj Finserv.
The same is acceptable across all EMI partner stores and on all major e-commerce stores such as Flipkart, and Amazon.
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