Finance

Everything You Should Know About EMI Cards

The financial possibilities today have changed the way people live. Though the cost of living has increased in India, so has the standard of living. In the past, it was about saving money to buy the desired things. Today, with the advancement made in the form of loans, credit cards and EMIs, shop anything and everything instantly is a possibility. But there are limitations and disadvantages to the use of credit cards and loans with high interest-rates and extra fees that put the consumer under stress.

This is where the introduction of EMI cards has transformed the way people buy. It has clearly been a boon for consumers to fulfil their aspirations by shopping what they want without stressing too much. Mswipe is one of the leading companies providing EMI cards by the name Mcards.

CASHe: Cashe Partners with Mswipe to launch EMI cards - The Economic Times

What is an EMI card?

Simply put, an EMI card is a card that looks similar to a credit card but with many differences. An EMI card is like having a pre-approved loan in your pocket which can be used for monthly household groceries shopping, dining, electronics, consumer appliances, health & wellness, travel and much more. While the credit cards have huge interest rates, an EMI card, like Mcards from Mswipe, have low interest-rates and you can pay back in easy installments as well. The application and approval are faster and simpler too. All in all, it is one of the best ways to purchase essential things that you need at once.

Benefits of an EMI Card

Pre-Approved Credit

With EMI cards, you get a certain loan amount pre-approved into your account. The EMI card provider will have a network of partners and associates where the EMI card can be used to do your shopping. In the case of Mswipe EMI cards, pre-approved credit is useful for both, planned and unplanned purchases. The credit limit is provided by their partners, CashE and IIFL.

Unlimited Shopping – Mswipe and their partners have a large network of stores, diners, travel and hospitality sectors with over 5,00,000 Mswipe terminals in 700+ cities across India. A Mswipe merchant is always around you which makes it easier for you to shop at your will’s fancy.

You can use Mswipe EMI cards for online payments while buying anything and pay in easy installments.

Flexible Payment

Generally, an EMI card will enable easy and flexible payment options to consumers. The Mcard allows you to shop and pay-back in three easy EMI’s. There is no transaction fee applied, eventually preventing burning a big hole in your pocket. Interestingly, the best part of owning an EMI card, like the Mcard, are the low interest rates that are applicable which is far more economical than credit cards.

Shopping Benefits – When you use an EMI card you are in for a plethora of offers and discounts. Especially in the time of festivals and different occasions you can avail the amazing offers. The Mswipe EMI card also provides great handpicked offers and discounts. There are no additional or annual charges for it and you get a free lifetime membership.

In-app Mcards account management

With the Mcards app, you get some additional features to monitor monthly spends and installments. You can view statements and account details and manage the budget for the next few months. The app also lets you keep track of cards, manage multiple card PINs and block the lost cards and protect yourself.

One of the major highlights of the Mswipe EMI card is the protection against emergencies and you can get credit when you want it the most. With Mcards, there are no hidden charges whatsoever. There are no foreclosure charges as well, if you decide to repay the loan amount earlier than the allocated period.

 

 

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I work for WideInfo and I love writing on my blog every day with huge new information to help my readers. Fashion is my hobby and eating food is my life. Social Media is my blood to connect my family and friends.
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