With the Insta EMI Card, you can make purchases up to the pre-approved EMI Limit amount and pay it back in monthly installments which makes it the best EMI card ever.
The approval process takes place every quarter, and the credit limit on the card is increased based on review. You must get in touch with their customer service department and ask for an increase in your Insta EMI Card credit limit. You have a better chance of getting your credit limit increased if you have a solid payback history and credit behaviour.
You can get a EMI card limit of up to Rs. 2 lakh if you have a Bajaj Finserv Insta EMI Card. There are many variables that affect the Insta EMI Card limit. You might be curious about how to raise the Insta EMI Card limit. When the lending policy is amended, your Insta EMI Card limit will also change. Every three months, the credit policy is revised. This is a periodic operation.
How to Increase Bajaj Finserv Insta EMI Card Limit
Whenever the credit policy is changed, you can raise your credit limit. Your credit history, home ownership, job situation, CIBIL score, and annual income all have an impact on this. A strong repayment record is advised because your Insta EMI Card limit may occasionally be reviewed. Some factors may be describes as follows:
- CIBIL Score: The Credit Information Bureau (India) Limited offers the CIBIL score. It establishes a person’s creditworthiness. The three-digit CIBIL score ranges from 300 to 900. This rating gives you a good picture of your ability to repay the loan in full and on schedule. Your chances of having your EMI card limit increase with your CIBIL score.
- Annual Income: The lending institution has to be certain that you can make your EMI payments on schedule. You can pay back the EMIs on schedule if you receive a steady salary. The amount that lenders will lend you depends on how much money you make each month. The EMI cards also fit this description. The Insta EMI Card limit is influenced by your income. Higher monthly disposable income increases your likelihood of meeting your payback obligations.
- Place of Residence: Here, the issue at hand is who owns your home. A smaller EMI repayment commitment is indicated if you pay a portion of the rent for the location you live each month out of your disposable income. Living in your own home allows you to save that sum of money since you won’t have to pay for housing rent. This shows that you have the resources necessary to make punctual EMI payments.
- Occupation Standing: To be able to return the loan on time, you must be employed and have a steady source of income.
- Credit Trends among Different Lenders: There should be no blemishes on your credit history with other lenders. If you have paid all of your EMI payments on schedule, your repayment history will be good. You must make an effort to pay all required fees on time.
The credit limit is automatically determined based on your credit score and the income information entered into the application approval system.
How to Check Your Bajaj Finserv EMI Network Card Limit Online
The Insta EMI Card has no minimum balance requirement. The Bajaj Finance Insta EMI Card has a maximum limit of Rs. 4 lakhs. You can ask to have your Insta EMI Card’s credit limit raised. Visit My Account to view the EMI Network ard limit. It is simple to use this user-friendly interface. The steps are as follows:
- Go to My Account
- Enter your Customer ID
- Enter the OTP that you receive on your registered mobile number.
- Click on “Services.”
- Select “My Relations.”
- Next, select “EMI Card.”
- The card is visible in the upper-right corner.
- Under “Total Limit,” you will see your Insta EMI Card limit.
Do’s:
- Keep up a solid repayment record.
- Keep your credit account’s credit utilisation ratio low: This ratio measures how much you actually spend each month compared to your credit card limit. Maintaining a low number demonstrates that you have control over your finances and raises your credit score.
- Give proof of an increase in income: Cite a recent pay raise, a higher salary in a new position, or a new source of money to support your claim. It demonstrates that you have improved your repayments.
- Check your credit score and make an effort to raise it. Pay your invoices on time in order to raise your credit score.
Don’ts:
- Don’t skip payments on your credit card bills.
- Don’t intentionally bounce checks or include other risky items in your bank statement.
- Don’t run down your investments.
- Don’t make any default in payments to your prior lenders.
Your credit limit will periodically increase automatically based on the time and usage patterns on your credit account. To learn more about the Bajaj Finserv EMI Network Card limit and the products available for online and in-store purchase, you can visit My Account, the Bajaj customer site, or the Bajaj Finserv App.
