With an EMI card, you get an opportunity to convert your expenses into easy EMIs. It thus helps people to pay their bills quickly and in a convenient manner. Similarly, EMI cards help you pay your car insurance premiums as well.
Are you wondering how does it work? This article will help you understand the same.
Car Insurance Premium Payments With Easy Instalments
Many insurance providers have come up with an easy way for people to pay their car insurance premiums – through EMI card. Car insurance on EMI is a unique and flexible payment option to pay the premiums. Moreover, it also enables instant claim settlement approvals for claim amounts up to INR 20,000.
How Does The EMI Card Work?
The EMI card comes with a pre-approved loan amount (for instance, an amount of up to INR 1.5 lakh). This pre-approved loan amount can be utilised for purchases of gadgets, lifestyle items, and more (online as well as offline). However, certain EMI card needs you to make the first transaction at their partner stores only. The payment of the expenses incurred through the card can be made with instalments.
The repayment tenure can be between 3, 6, 9, 12, 18, and 24 months depending on your payback convenience. Also, you do not have to deal with foreclosure charges that EMI or loan schemes otherwise charge. EMI card also allows you to keep track of the transactions, purchases, and payments made through it.
Apart from shopping online and offline, the card also allows you to pay for financial instruments such as car insurance premiums through easy instalments.
How To Get The EMI Card?
Apply for the EMI card online. The online application process is as follows –
- Apply for the card online
- Make an online payment for the fees associated and complete the IMPS registration
- Submit the requested KYC documents at the partner store
- Get the card activated
Pay Car Insurance Premiums With EMI Card Available On Finserv MARKETS
The Bajaj Finserv EMI Card is exclusively available on Finserv MARKETS online. So, when purchasing Bajaj car insurance with us, you can pay the premium amount with this flexible payment option. Some of the highlighting features and benefits of the same are as follows –
- You get a high pre-approved loan amount of INR 1.5 lakh on your Bajaj Finserv EMI card
- You can choose to repay the expenses incurred through your EMI card with a flexible tenure ranging from 3 months to 24 months
- Application and activation of the card requires minimal documentation
- There are no foreclosure charges involved
- Transactions on Bajaj Finserv EMI card are safe and secure
Many people are reluctant to purchase comprehensive coverage due to the slightly higher premium charges that come along with it. The same happens when renewing car insurance online.
But with an EMI card, paying car insurance premiums has now become easy and convenient. This further allows you to purchase extensive coverage to keep your precious possession safe and sound.