Written By – Jaya Pathak
Insta EMI card is basically a digital payment medium through which you can convert your shopping for a wider range of products and services at various destinations with convenience, flexibility and a seamless experience. It provides a credit limit up to rupees 3,00,000 which can be used at both online and offline medium across India.
This card is offered by Bajaj Finserv. It is basically a digital equated monthly installment payment card which has a credit limit up to rupees ₹3,00,000. If you want to join it, then you have to pay rupees 530 which includes GST and it is a onetime payment. It does not require any additional charge annually. This card is accepted at offline as well as online stores.
If you want to make your shopping experience simpler and affordable, then this card serves as a saviour. You don’t have to think twice before buying any expensive electronic gadgets, groceries and even healthcare. You can shop whatever you want over thousands of products and services as it does not put any burden on your finances. It also offers some exclusive discounts and offers which is available for the card holders. If you are not able to pay immediately for your flight ticket then you do not have to postpone your plans. Rather you can use this card through which you can pay for your flight and repay the amount later on.
How does Insta EMI Card work?
This card works for both online as well as offline mode of shopping. For the online mode, you have to choose the product and services from a partner store platform. Then select Bajaj Finserv EMI as the payment amount. Select the repayment duration. With your registered mobile number, you have to complete the OTP verification. Once your product is delivered then EMI repayment takes place from the very next month.
For an offline medium, you have to visit any store and choose a product. With the Insta EMI card, you have to share your mobile number and you have to go through the eKYC verification through OTP. Take your product and then the cost is converted into equated monthly installments from the very next month.
What is the difference between a credit card and Insta EMI card?
- A credit card requires full credit assessment whereas Insta EMI card instantly is provided to pre-approved users.
- Credit card is a physical card whereas Insta EMI card is a digital card.
- Credit card has an interest rate on equated monthly installments whereas Insta EMI card comes with no cost EMI options.
- Credit card is universally accepted whereas Insta EMI card is accepted at the stores and online platforms which are partners.
- An annual fee of around Rs. 500 to ₹1000 is charged per year from the users of credit card whereas a joining fee of rupees 530 is charged one time with no annual fee for Insta EMI card users.
- Usually, the repayment duration on a credit card is around 3 to 24 months whereas for Insta EMI card, the repayment duration is about 3 to 60 months.
Notable features of Insta EMI Card
- It offers an easy application process where you can apply for the Insta EMI card through both online as well as offline medium. The entire application process is quite simple and hassle free. You can get the approval of your card within minutes.
- It offers a flexible repayment duration which perfectly suits your needs. You can repay the amount within three months to 60 months. It depicts that you can repay the amount at your own pace without having any burden about immediate financial obligation.
- It doesn’t come with any hidden charges. You just have to pay the fee at the time of joining which is Rs 530.
- Insta EMI card is accepted at the partner stores across various categories such as fashion, furniture, healthcare and electronics.
- You do not have to make any down payment in order to avail the EMI facility on the selected product and services.
Where can you use Insta EMI?
 This card can be used on various platforms including:
- E- commerce platforms: The users of this card can shop anything including electronics, gadgets, travel tickets, furniture and opt for equated monthly installments which the user will have to pay from the next month of purchase. There are some giant commercial platforms which accept this card including Amazon, Flipkart, Make my trip, IRCTC Bajaj mall, Myntra, Paytm, Goibibo, Pepperfry, Home Town and other major online retailers.
- Stores: Insta EMI card is accepted at +1.5 lakhs physical stores which is spread out across numerous cities in India. Whether you are looking for furniture, electronics, groceries or healthcare, you just have to visit the shop in person.
You can split the payment into equated monthly installments in a hassle free manner. Some offline retailers such as Samsung, one plus, OPPO, Redmi, vivo, Google, Motorola accepts the Insta EMI card where the user can split the payment into equated monthly installments which he or she can pay later on. The users can buy smartphones, televisions, home and lifestyle material and health and wellness products and services with the partner stores and later on pay the equated monthly installments. - Regular items: Surprised to know? But yeah, it is true! You can purchase your everyday needs such as grocery, fuel as well as healthcare products and services availing Insta EMI card. You just have to select the partner superstores and stations which accepts this card then later on you can pay the equated monthly installments.
- Travel websites: Insta EMI card is not just limited to products but it also extends to services also. There are certain platforms including MakeMyTrip ,Goibibo, IRCTC, dish TV D2H and many more, which allows the user of this card to avail the service. Through the platforms such as MakeMyTrip and Goibibo, the users can book their flights and hotels. IRCTC allows the user of this card to avail rail booking facility. The subscription of dish TV as well as D2H can be paid through monthly installments.
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