No, it is not possible to purchase gold on Bajaj Insta EMI Card. The Bajaj EMI Card cannot be used to buy gold or gold jewelry as per RBI guidelines. Even gold purchases made with credit cards cannot be converted to EMIs. However, you can take a gold loan using Bajaj EMI Card.
No Cost EMI means the consumer can turn his purchases into No Cost EMI up to a predetermined credit limit. This indicates that there are no interest fees involved; you are only paying the full cost of the item.
Since gold is an excellent investment with a consistent market value, purchasing it on No Cost EMI allows you the option to pay in installments of cash. However, due to the high cost of gold and the associated expenses, the majority of buyers choose loans.
Not only because loans make it feasible to pay the full amount needed to purchase gold, but also because banks and other financial organizations currently provide very competitive interest rates. Various lending institutions in India now provide gold for purchase on No Cost EMI. You can buy anything and pay for it over time in weekly or monthly installments. This allows you to buy gold in little amounts as it suits you.
How To Buy Gold on Bajaj EMI Card
The complete sum needed to purchase gold can be covered by loans nowadays because of the alluring interest rates provided by banks and other financial institutions. You can buy the goods you want with No Cost EMI. Gold on Bajaj EMI Card can’t be purchased, as per RBI regulations.
Gold jewellery also cannot be bought with an EMI Bajaj Finance Card. The Bajaj EMI Card can be used to make no-cost EMI purchases of all appliances, including smartphones, TVs, laptops, air conditioners, refrigerators, washing machines, air coolers, water purifiers, etc.
The majority of retailers of consumer goods have a designated desk where Bajaj Finserv representatives can assist you in making your purchase using your Bajaj EMI Card or even in applying for a new one.
You can use your Bajaj EMI Card by visiting one of the partner stores that are a member of the network, choosing a product, and paying with the Card. You can purchase your items with No Cost EMI. Compared to those offered by banks and other financial institutions, the interest rate on EMIs is significantly lower. Simply make a monthly payment of a specific amount to be deducted from the final price of the product. You may pay the remaining balance in full now or in a series of payments over time.
Advantages of taking a gold loan from Bajaj Finserv
The benefits of gold on a Bajaj EMI Card can be described below:
- For a large sum of money, you can exchange your gold for: You will be able to benefit from the simplicity of obtaining a loan up to Rs. 2 lakh, whether it is for personal or professional requirements. Bajaj Finserv meticulously assesses your gold using a carat metre in-house to add to the security of your priceless asset and to raise the value of your gold to your advantage.
- Utilize simple and convenient repayment choices: Flexible repayment terms are only one advantage of getting a gold loan from Bajaj Finserv. As a result, you can repay the debt without experiencing financial hardship. Additionally, you are not charged extra to use the foreclosure facility or make partial prepayments.
- Flexible debt repayment: You can choose from a wide range of alternatives at Bajaj Finserv while repaying your loan balance. If you decide to pay only the interest on your gold loan each month or quarter, the principal amount could be paid as part of your tenor at the end of the tenor. EMI payments that include both the principal and interest sum are also an option.
- Apply the realistic partial release and top-up facility: If you need some or all of the gold or jewelry you’ve pledged to Bajaj Finserv back for a particular occasion or other cause, you can get a part-release option. You can therefore retrieve the gold you pledged when you need it. Additionally, if you need extra money from your gold loan in the future, it can be topped up.
- You may protect your gold with Bajaj Finserv.: You will receive full compensation depending on the current gold price if it is stolen. To apply for a gold loan, you only need to provide your KYC documentation for verification.
You can purchase more than a million items with your Insta EMI Card, and can spread the cost of your purchases over a duration of 3 to 24 months using No Cost EMI. But Gold cannot be purchased with a Bajaj EMI Card provided by Bajaj Finserv.
Bajaj Finserv does not allow customers to use their Bajaj EMI Cards to purchase gold. But rather than purchasing gold from Bajaj Finserv using an Insta EMI Card, you can apply for a Gold Loan from the company. Bajaj Finserv provides gold loans with competitive interest rates and complete transparency. Your gold is protected by Bajaj Finserv in a strong room with top-notch security measures.