EMI Cards: The future of Credit

As online shopping platforms keep expanding, banks and other payment platforms are working hard to create new and exciting products to encourage consumption. One of the offshoots of the increase in consumption is also a demand for credit, and banks and other non-banking financial companies are more than happy to oblige their customers when it comes to this. There are a number of ways customers can access credit these days to make purchases they want. These new lines of credit are provided at some compelling rates of interest or no interest at all in some cases. This makes shopping on sites like Amazon and Flipkart using EMI cards even more fun.

EMI Cards: The future of Credit

One of the most recent additions to this line of credit instruments is the EMI Card. An EMI Card allows you to avail a pre-approved loan, usually at 0% interest, no down payment and no processing fees. These types of loans are also called No-Cost EMIs.

How to Apply for an EMI Card

The application process for an EMI Card is quite straightforward. You will need to approach your bank to procure an EMI Card. EMI Card Applicants are required to be at least 21 years of age and have a regular source of income. Along with this, there are a few documents that you will need to submit, which are:

  • Proof of Age (Birth Certificate, Government Issued Identification, Passport)
  • Proof of Address (Government Issued Identification, Passport, Aadhaar)
  • Proof of Income (6 months’ bank statement, 6 months’ payslips)
  • PAN 
  • Aadhaar

The 5 Best EMI Cards 

Bajaj Finserv

The Bajaj Finserv EMI Network card allows its users to avail loans of up to Rs. 400,000 for electric appliances, mobile phones, apparel, furniture, travel,  healthcare and much more. Since the Bajaj Finserv is tied up with 60,000 stores across the country it has almost constantly offers you can avail. The Bajaj Finserv Network Card also has no-cost EMIs on a number of items, allowing you to make large purchases on EMI without needing to pay a downpayment or being charged interest.


The Kissht Digital EMI Card is a technologically enabled credit financing service. The Digital EMI Card provides you with a pre-approved credit limit that allows you to shop in over 3,000 offline outlets and 50 online outlets. The procedure to apply for a Kissht Digital EMI Card is fairly simple.

  • Download & login to the Kissht app OR login to Kissht.com
  • Select “Activate Digital EMI Card”
  • Fill in your information
  • Pay Processing fee (100% refundable if card not approved by us or if canceled by you before approval) Upload soft copy of minimum required documents
  • We will verify your documents and approve your card & wallet amount accordingly
  • A Wallet amount is assigned to your card and your card is ready for use

To apply for a Kissht Digital EMI card you will need to be between the age of 21 years and 60 years and have a regular income. There are a few documents that you will need to provide during the application process.

  • Aadhar card and PAN card.
  • One cheque
  • One passport size photograph

IDFC First Bank

The IDFC First Bank Easy Buy Card allows you to purchase electronic durables from a number of outlets across the country. The Easy Buy card is provided to existing two-wheeler and consumer durable loan customers of IDFC First Bank. The pre-approved loan amount varies from customer to customer and depends on the loan amount provided to you for your existing two-wheeler or consumer durable loans. There is no documentation required for this card as you would have provided your particulars while applying for your existing loan

American Express

The American Express of AMEX card allows you to easily divide your large purchases of Rs. 5,000 and above into smaller manageable EMIs. American Express has been a leader in credit financing services for a while now and they continuously develop new methods to keep their customers happy. 

The EMI facility is available for the American Express Platinum Travel Credit Card, the American Express Platinum Reserve Credit Card, the American Express Payback Credit Card, the American Express Membership Rewards Credit Card, the American Express Gold Credit Card, and the American Express MakeMyTrip Credit Card, the Jet Airways American Express Platinum Credit Card.

There is no documentation required as this is an additional facility provided to existing Credit Cardholders. You will just need to SMS ‘EMI’ to 5616166 or email emi@aexp.com and request them to activate this facility for your card.


ICICI Bank, one of India’s premier private banks, now offers its Credit Cardholders the Instant EMI facility. The Instant EMI facility allows customers to convert the payment for their purchases into EMIs instantly. They have tied up with over 250 brands to ensure you can shop for all your essentials with this facility. 

As this is a facility provided to Credit Cardholders and their personal information and document collection is completed when applying for a Credit Card, there is no additional documentation required to avail this facility. The customer has to simply request ICICI Bank’s customer care to convert a transaction into EMIs, sometimes the option is provided on the online shopping website. 

So the next time you are in the market for some expensive products that might put excessive strain on your savings, consider buying them on EMIs. EMIs can help you maintain healthy liquidity while allowing you to buy what you need. 

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