By Ronni Peel
Buying big-ticket items can strain your finances. Juggling large lump sums is difficult, especially when unexpected expenses crop up. This is where having access to instant credit comes in handy. IDFC FIRST Bank offers an Easy EMI card that simplifies the financing process for buying consumer goods.
Read on to understand the benefits of the IDFC FIRST Bank Easy EMI Card.
What is an Easy EMI card?
An Easy EMI card from IDFC FIRST Bank converts high-value purchases into convenient monthly instalments or EMIs. You can use your existing IDFC FIRST Bank debit card to purchase between Rs. 2,000 and Rs. 500,000 at select merchant stores. The loan amount is repaid through EMIs over flexible tenors of 3, 6, 9, 12, 18 or 24 months.
Critical Benefits of Easy EMI Card
The following are the key benefits:
- Instant loan approvals with no paperwork: As an existing bank customer, you can walk into partner stores and buy goods on EMI with instant swipes on your debit card.
- High credit limits up to Rs. 5 lakhs: You can access large amounts without providing additional documents.
- Budget-friendly EMIs: Choose tailored EMIs suited to your monthly cash flows from a range of tenor options.
- No-cost EMI options: Select purchases offer zero-interest EMIs, allowing you to buy now and pay later at no extra cost.
- Buy essentials and appliances: This program allows you to buy various goods, from smartphones and home appliances to fitness equipment and laptops.
How to Avail of an Easy EMI Loan
To avail of an Easy EMI loan, check your pre-approved loan limit by logging into your IDFC FIRST Bank account online or via the mobile banking app. This will give you visibility of the maximum amount you can borrow. Next, visit a participating merchant outlet to make the intended purchase.
You can also shop online through the merchant’s portal or mobile app. Select the ‘EMI’ payment option at the point of sale and choose your preferred repayment tenor between 3-24 months based on your budget. The merchant representative will then provide an EMI request form for you to sign, and you will be issued a purchase receipt mentioning the loan details.
Benefits of Easy EMIs
The following are the Benefits of Easy EMIs:
- Convenient repayment: Streamline cash flows by converting one-time spending into easy instalments and loan payments online using Internet banking.
- Flexibility to reschedule: You can foreclose the loan early to pay less interest or extend the tenor if need be within ceiling limits.
- Interest rates as low as 0%: Leading lenders offer 0% interest ‘No cost EMI’ deals on select brands and merchants for added savings.
- More comprehensive access: Shop online and offline at thousands of outlets offering IDFC FIRST Bank’s Easy EMI program.
- Peace of mind: Auto-debits ensure timely payments and keep your finances and credit history in order. Building a loan repayment track record also helps one access higher credit in the future for bigger goals like home appliances, furniture, or vehicles through personal loans.
Conclusion
An Easy EMI card from IDFC FIRST Bank facilitates instant credit and services such as a mobile banking app that is a consumer durable loan app to fulfil aspirations conveniently. It streamlines your spending ability and loan repayment journey into one easy swipe. Start upgrading your purchases today with this hassle-free financing program!
