Eligibility criteria and documents required for Bajaj Finserv Insta EMI Card
Anyone can get an Insta EMI Card as long as you meet the basic criteria mentioned below. If you meet the criteria, you will need a set of documents to complete your application process.
Eligibility criteria
⚫ Nationality: Indian
• Age: 21 years to 65 years
• Income: You must have a regular source of income
• Credit score: 720 or higher
Documents required • PAN Card
• Aadhaar Card number for KYC confirmation • Address proof
• Bank account number and IFSC code for e-mandate registration
More details are required to apply for the Insta EMI Card
Your personal information is required to determine if you can get an Insta EMI Card.
If you are interested in applying for the Bajaj Finserv Insta EMI Card, you'll need to meet some basic eligibility criteria. To apply for the card, you must be an Indian citizen between 21 years and 65 years of age with a regular source of income and a credit score of 720 or higher. You'll also need to provide some documents to complete your application process, including your PAN card, Aadhaar card number for KYC confirmation, address proof, and bank account number and IFSC code for e-mandate registration.
Once you have met these requirements, you can apply for the card by filling out an application form with your basic details, verifying your KYC, paying a one-time joining fee of Rs. 599 + (inclusive of applicable taxes), and completing the e-mandate process.
These factors are considered to check your eligibility and card limit.
1. Age: The Bajaj Finserv EMI Card age limit is between the age of 21 years and 65 years.
2. Regular source of income: Your Insta EMI Card limit will be determined according to your monthly income. There is a catch to this, though. If you already have many loans open, you can be given a lesser limit until you settle one of them.
3. City: Depending on the city you reside in, your Insta EMI Card limit may differ. This is due to the fact that larger cities often have higher incomes than smaller cities.
4. Credit rating: For us, your credit rating is the single most crucial consideration. Numerous organisations known as credit bureaus (TransUnion, CIBIL, Experian, etc.) keep track of all of your loans and credit cards as well as your history of payments to determine your credit score. A better credit score increases your chances of receiving the card as well as the sanctioned limit. For our application, a CIBIL Score of 720 or more is required with no past record of defaults.
5. Repayment history: Repaying your EMIS on time is a sign of financial responsibility. Your credit score increases when you pay your EMI on time. Your credit score decreases when you don't make a monthly payment.
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