Many times, people walk into a store and select a mobile phone only to be disappointed by the fact that finance options are limited only to those who hold a credit card. As a result, many of them have to return back empty-handed. This is not unimaginable considering less than 2% of the people in India use credit cards.
To change this, a finance option known by the name of the EMI Network Card has been introduced. Most people at the very mention of EMIs think they have to pay interest. While this concept was true when an interest in the range of 12-24% was levied, this, however, is not the case anymore. With the EMI Network Card, you can now enjoy interest-free instalments.
What Is the EMI Network?
It is a payment system which gives you the freedom to buy products or any mobile phone on EMI without credit card. There are no hidden charges and the cost of purchase is simply divided into the number of instalments which you opt to pay.
Some of the other benefits of using the EMI Network Card are -
Loan facility up to Rs. 4 lakh
You get access to more than a million products using the EMI Network across more than 60000 stores, both online and offline across more than 1,300 cities and get to access loans of up to Rs. 4 lakhs.
Repayment
The loan amount gets converted into interest-free instalments in a tenor of your choice so that you do not have to worry about your purchase becoming a financial burden.
Instant Approval
The process is initiated by filling out an online form and showing the SMS of the pre-approved loan at any of the partner stores. The documentation is minimal and involves just the basic KYC documents, photograph, and a cancelled cheque.
Once approved, all you need to do is choose the product you want, swipe your EMI Network card just like any other plastic money and walk out with the product. It is that simple.
