Applicants with a credit score of at least 650 and up to 850 may be eligible for J.J. Best Banc & Co. Auto Financing. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Your CIBIL Score is a measure of your credit health. Thus, it is important to determine your eligibility for the EMI Card. It is measured on a scale between 300 and 900, with 900 indicating maximum creditworthiness. The minimum CIBIL Score required for Bajaj Finserv Insta EMI Card is 720 or above.

CIBIL score range

The Bajaj Finserv Insta EMI card eligibility is generally extended to individuals who are Indian citizens aged between 21 years and 65 years with a steady income source and a good credit history. What documents are required for an EMI Card?

Some banks offer interest-free EMIs on certain products when bought from a specific retailer. These are often a good bargain. In most cases, you will need to pay interest on the EMIs. The interest rates are generally lower than the credit card interest rates.

Do's

1. Make timely repayments. The most critical component that comprises a credit score has to be timely repayment.
2. Restrict your credit utilization to 30%
3. Check your credit report regularly.
4. Maintain a mix of secured and unsecured credits.
5. Apply for multiple credit simultaneously.
6. Close old accounts.

Your score falls within the range of scores, from 700 to 750, that is considered very good. A 725 CIBIL Score is an above the average credit score. A 725 CIBIL Score is an above the average credit score.

It gives you the affordability and the freedom to buy anything you desire. Instead of spending a huge amount of money in one go, you can repay the lender in parts over a period of time. Flexibility: Another EMI benefit is the flexibility it offers.

Your income will determine the loan amount you are eligible for. Lenders will consider your take-home salary, minus certain common deductions such as gratuity, PF, ESI, etc. The take-home salary will determine the EMI amount you can afford and thus the total loan amount you can borrow.

When you choose the no-cost EMI or zero-cost EMI option to make a purchase, it means you will be paying monthly instalments for that product, but without any interest or charges. This implies that you will be paying only the actual price of the product, just divided into EMIs.

Generally, credit card EMI interest rate starts from 12.5% per annum and it varies from bank to bank. This incurred interest can eat up customer's savings especially if a longer tenure is chosen. Blocked Credit Limit: The transacted amount is blocked against the credit limit and released upon the payment of EMIs.

If you always pay your loan EMIs and credit card bills on time, maintain a credit mix of secured and unsecured loans, and have a low debt-to-income and credit utilisation ratio, you can build a perfect credit score of 900.