Learn How Your Insta EMI Card Limit Gets Decided

Insta EMI Card

Ever wonder how your bank or other lender determines the credit limit on your card? We have made an effort to explain some important considerations to increase the limit on your Insta EMI Card. The pre-approved credit limit on the Bajaj Finserv Insta EMI Card is up to Rs. 2 lakh. 

This cap is determined by a number of variables, including your CIBIL score, monthly income, and ability to repay. Your credit limit for your Insta EMI Card will occasionally be reviewed by Bajaj Finserv. Keep up a strong payback record to raise your Insta EMI Card limit.

In more than 1900 cities nationwide, customers can use the Bajaj Finserv Insta EMI Card as a digital payment method to make online or offline transactions. This card also includes a pre-approved EMI Limit for Rs. 2,00,000, which can be easily sanctioned to qualified applicants with little paperwork. Utilize the Insta EMI Card limit to make no-cost EMI purchases from more than 1.2 million items.

How Your Insta EMI Card Limit Gets Decided

Here are some elements that are taken into account while determining the EMI card limit.

1. Demographic information

You will have to disclose certain personal information in order to determine whether you qualify for the Insta EMI Card limit and how much you qualify for. Your demographic data is one of them to decide the Insta EMI card limit as this decides your capacity of repayment better when you have a house of your own.

2. Age

Existing customers between the ages of 21 and 65 can check their pre-approved offer for the Insta EMI Card.

3. Regular income source

You must have a regular source of income. In actuality, the bigger your Insta EMI Card limit, the higher your recurring revenue. There is a catch to this, though. If you already have several loans open, you can be given a lesser limit until you fully repay one of them.

4. City

Depending on the city in which you reside, your Insta EMI Card limit may change. This is because larger cities often have higher incomes than smaller towns and may affect an individual’s repayment capacity.

5. Credit score

For us, your credit score is the most crucial variable. 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 repayment to determine your credit score. A higher credit score increases both the likelihood of receiving the card and the sanctioned limit. For our applications, a CIBIL score of 700 or better is required. We kept this substantially higher so that we could provide larger credit amounts.

6. History of repayment

Making on-time EMI payments is a positive practice that demonstrates your financial maturity and ultimate EMI card limit. Your credit score increases when you pay your EMI on time. Your credit score drops when you don’t make a monthly payment. 

You can use a few useful tools on our website to determine your eligibility for the Insta EMI Card limit, check your credit score, and learn the minimum wage in your city. If you match the requirements listed below, anyone can apply for the Bajaj Finance Insta EMI Card. If you satisfy the requirements, you will require several documents to finish the application procedure.

Eligibility Criteria

  1. Nationality: Indian
  2. Age: 21 years to 65 years
  3. Income: You must have a regular source of income

Documents Required

  1. PAN Card
  2. Address proof
  3. Cancelled cheque
  4. Signed ECS mandate

The applicant’s credit score is one of the primary requirements to be approved for an Insta EMI Card. For the Insta EMI Card, the credit score provided by CIBILTM is taken into consideration. Bajaj Finserv Insta EMI Card requires a minimum credit score of 700 from CIBILTM. You are not eligible for the Insta EMI Card if your credit score is less than 700.

A three-digit number between 300 and 900 is used to represent the credit score provided by CIBILTM. For the Insta EMI Card, a credit score closer to 300 is regarded as low. For the applicants, a credit score closer to 900 is regarded as favourable. 

How To Check Insta EMI Card Limit Online

This enhances the likelihood that qualified applicants will be approved for an Insta EMI Card, assuming that they also meet the other eligibility requirements. Visit the Bajaj Finserv My Account to view the Insta EMI Card limit. It is simple to use this user-friendly interface. The steps are as follows:

  • Step 1: Go to Bajaj Finserv – My Account
  • Step 2: Enter your Customer ID 
  • Step 3: Enter the OTP that you receive on your registered cell number
  • Step 4: Click on “Services”
  • Step 5: Select “My Relations”
  • Step 6: Select “EMI Card” from the menu now.
  • Step 7: The card is visible in the top right corner.
  • Step 8: Under ‘Total Limit,’ you will see your Bajaj Finserv Insta EMI Card limit.

Bajaj Finserv offers qualified applicants speedy lending choices. The requirements for eligibility for Insta EMI Card are not particularly strict. This is done to make sure that as many applicants as possible can benefit from products to meet their various financial needs.

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