By Chiran Sharma
Most of us could be from a small town, but we certainly have a big dream like others. We may be working for a small company holding a designation which may not be enough to bear our expenses. In this day-to-day hustle, we may be sacrificing our comfort.
We want to have a luxurious life like others, at least a life with some comfort, we may want to have a motorbike, a new mobile phone to pass our spare time on the internet, maybe a washing machine which will wash our clothes for us, some many other homes and kitchen appliance and many other things that really can help us to take a few beautiful moments to share with our family.
Now you may be thinking these are all dreams. What to do with the small budget we get as a salary?
Friends, tight up your seat belts and get ready for a ride into the world of EMI.
An equated monthly instalment in the short form; EMI is a specified payment amount made by a borrower to a lender at a specified time frame. Equated amount of money meant to be paid monthly is applied to both interest and principal each month, which secures the full payment of the loan with interest in a specific timeframe.
The term EMI is not much different from bank loans and house mortgages, rules of payment of instalments are a bit different. For bank loans and mortgages you could get to pay the instalment before time or pay all the amount before the time of the loan period, but in EMI, you have to pay according to the plan you take, in most cases borrowers are only allowed to pay one fixed payment at a specific time.
If you are ready with the previously mentioned documents, now let me tell what do you need to get eligible to buy things on EMI?
This question may be your first question for which you need to know the answer. To buy something on EMI plans first you will need to have a valid credit card.
A credit card? Yes! A credit card.
What is a credit card? Let us first know about a credit card then we will find later talk about how to get a credit card.
CREDIT CARD
A credit card is simply a card with a credit facility in it. It is provided by banks and financial bodies that allows its customer to borrow funds to purchase goods and services within a preapproved credit limit.
Well, you knew about credit cards, now it’s time to know about how to get a credit card. Coming first let’s find the eligibility to get a credit card in Nepal.
ELIGIBILITY TO APPLY FOR A CREDIT CARD
The one who wants to apply for a credit card in Nepal should be equal to or more than 18 years old age. Minors are not eligible for a credit card; a person should hold valid Nepali citizenship these are the first requirements.
Who can apply for a credit card? What are the documents needed while applying for a credit card?
If you are a job holder and want to apply for a credit card through a bank you need to have a few documents as follows;
A valid citizenship certificate or an equally valued identity
A clear address details
An income proof
Duly signed credit consent
Fill off a form and apply for a credit card. Different banks offer their customers various credit card options; you need to select a plan which is right for you.
Now, what if you are not a job holder? Do not worry, although you do not have a job or you do not acquire an income certificate you can still apply for a credit card.
You can get a credit card against the lien on a fixed deposit. Some of the banks even provide their customers with a credit card to one who has a current and saving account maintained at their bank, in this case, you may not need to have an income certificate.
Some of the things that you need to keep in mind if you are applying for a credit card with an income certificate are mentioned below;
As far as the data shows; banks provide a credit card for those who earn or have a salary/income certificate which shows an income of NRP8000 depending on annual income. Eligibility on the card could be three times the monthly salary.
Are you happy with this information?
Hold on, there are many interesting things for you to understand.
Now let us talk about how to use a credit card correctly.
It is all your money, and we are hopeful you will use it wisely. Do not swipe your credit card in filthy and waste. Get ready for a wise option. Here, we have the best recommendation for you.
BUY VARIOUS ELECTRONICS ON EMI PLANS THROUGH KINNIHO.COM
Kinniho.com is a leading e-commerce company. Registered in 2021 this company has established itself to become one of the major e-commerce sites in Nepal. Specialized in all kinds of electronics and home/kitchen appliances it was successfully certified with ISO2009- 2015 as an appreciation and became Nepal’s first ISO-certified e-commerce company. No wonder kinniho.com has got ISO2009- 2015 certificate due to its product and service standards. A company with over 2500 products from 100+ brands, high product standards, quality logistics, reasonable price, quality customer services, safety and locally and internationally valid online and offline payment systems, attractive EMI plans on products and many other attractive and unique features integrated to give best to its customers.
How to buy on EMI through kinniho.com?
Kinniho.com has a unique and simple user interface design, users can browse through the internet. Download the apps or go through different social media sites to choose the products of their need and ask for EMI plans. If your request is valid and confirmed by the kinniho authority, you will get the best deal.
WHY KINNIHO FOR BUY ON EMI PLANS?
Kinniho private limited(Kinniho.com) has tied up with 100+ genuine vendors who provide varieties of products at a reasonable price with various services on EMI and direct deals. It has maintained tie-ups with twenty-seven level (commercial banks) and other renounced financial firms that provide EMI services to customers all over Nepal. Customers anywhere from Nepal can buy products on attractive EMI plans through Kinniho.com.
Buy a washing machine with a 0% Interest rate on EMI through Kinniho.com
Why spend your money and time on the best deal? Don’t hustle, compare prices of a washing machine on the internet, do a wise budget plan and buy a brand new washing machine with a null interest rate on EMI through Kinniho online platform. What can be more beneficial for you and your pocket when you have the best deal at your hand? Do visit Kinniho.com: we guarantee it will be worth buying through this platform.
