Bajaj Finserv vs 0% EMI shopping apps: hidden charges compared in 2026
When you want to buy electronics on EMI without a credit card, you might compare Bajaj Finserv against 0% EMI shopping apps like Snapmint. This guide breaks down the true costs, processing fees, RBI licences, phone permissions and credit report complaints for both options.
By Qrates research desk · 2026-10-27
When you want to buy electronics on EMI without a credit card, you often compare no cost emi apps vs bajaj finserv. You might weigh a buy now pay later vs bajaj emi card, or look specifically at a bajaj emi card vs snapmint. A look at recent data shows that 20 out of 399 recent reviewers for the 0% EMI Shopping App (Snapmint) reported credit report problems, compared to 5 out of 400 for Bajaj Finserv (Qrates directory). This guide breaks down the true costs, licences and phone permissions for both options. You can also explore our comparison of loan and credit apps to see how other providers stack up.
Quick answer: Bajaj Finserv vs 0% EMI apps
Neither option is entirely free of cost. Both involve processing fees that increase the final price of your purchase. Bajaj Finserv operates with an active RBI licence, while we could not match a licence for the 0% EMI Shopping App (Snapmint) on the registers we check. Both apps require access to your text messages, contacts and location to function. If you want to understand the real costs and hidden fees associated with these services, it is important to look beyond the marketing.
At a glance: Bajaj Finserv and Snapmint compared
You can check the latest figures on the Bajaj Finserv and 0% EMI Shopping App Qrates pages.
| Feature | Bajaj Finserv | 0% EMI Shopping App (Snapmint) |
|---|---|---|
| RBI Licence | RBI prepaid instrument issuer (active) | None matched on the registers we check |
| Phone permissions | Texts, contacts, phone identity, audio, location | Texts, contacts, phone identity, audio, location |
| Overall rating | 4.74 | 4.58 |
| Recent review average | 3.16 | 2.99 |
| Credit report complaints | 5 of 400 reviews | 20 of 399 reviews |
Processing fees, GST and the true cost of zero interest
How the 18% GST on hidden interest works
A no cost emi means the interest is discounted from the item price upfront. You might hear that you pay 18% GST on this hidden interest, but interest payments on loans in India are not actually subject to 18% GST (bajajfinserv.in). Instead, lenders charge a processing fee to set up the loan. You pay 18% GST on this processing fee, which increases your total cost. The RBI Key Fact Statement rules require lenders to show the Annual Percentage Rate to expose this true cost.
Down payments and mandate bounce charges
You usually have to make a down payment at partner stores before the EMI schedule begins. Lenders apply mandate bounce charges if your linked bank account lacks sufficient funds on the auto-debit date. You will also face a late payment penalty for missing the due date, and you might pay foreclosure charges if you close the loan early.
What Bajaj Finserv and Snapmint read on your phone
Both apps require access to your personal data to work. According to their Google Play store listings, both request permission to read your text messages, read your contacts, read phone identity, record audio and see your location (Qrates directory).
Lenders typically use these permissions to assess your credit limit. They read your text messages to find bank alerts and verify your income. They also use your location and contact data to track you for debt recovery if you miss payments. If you are unsure about an app's legitimacy, learn how to check if a loan app is RBI registered.
Credit report problems and what users complain about
We read recent app store reviews to see what goes wrong for users. The 0% EMI Shopping App shows a high rate of credit report problems, with 20 of 399 reviews raising this issue (Qrates directory). Bajaj Finserv has fewer complaints of this type, showing up in 5 of 400 reviews.
Users of both apps complain about being pushed into things. This problem appears in 9 of 399 Snapmint reviews and 5 of 400 Bajaj Finserv reviews. Bajaj Finserv users also complain that the service costs more than advertised, appearing in 4 of 400 reviews.
Both companies are responsive to unhappy users. Snapmint replies to 100% of one and two star reviews, while Bajaj Finserv replies to 99%.
Who each one suits, by need
If an active RBI licence matters to you: Bajaj Finance Limited holds an active RBI prepaid instrument issuer licence (bajajfinserv.in). An active licence or nbfc registration provides regulatory oversight. We could not match a licence for Snapmint on the registers we check. You can also compare different loan and credit apps to find alternatives with verified credentials.
If credit report accuracy is a major concern: Snapmint shows a higher rate of complaints about credit report problems. 20 of 399 users raised this issue, compared to 5 of 400 for Bajaj Finserv (Qrates directory).
If recent user satisfaction matters: Bajaj Finserv has a slightly higher recent review average of 3.16 over the last 90 days. Snapmint has a recent average of 2.99 over the same period.
FAQs
Which is better Bajaj EMI card or EMI apps?
The choice depends on your need for an active RBI licence and your tolerance for credit report errors. Bajaj Finserv holds an active licence and has a higher recent review average. EMI apps like Snapmint operate without a matched licence on the registers we check.
Bajaj EMI card me hidden charges kya hai?
The bajaj emi card hidden charges usually include processing fees, late payment penalties and mandate bounce charges. You also pay 18% GST on the processing fees, which increases the total cost of your purchase.
Are 0% EMI apps safe to use in India?
Safety depends on the app's licence and the data it collects from your phone. Apps like Snapmint request permission to read your text messages, contacts and location. We could not match a licence for Snapmint on the registers we check.
Bina credit card ke no cost EMI kaise le?
You can use a prepaid instrument like the Bajaj Finserv EMI card or a buy now pay later app. These services assess your credit limit using your phone data instead of a credit card history.
Do EMI apps require CIBIL score?
Most EMI apps check your credit report to approve your loan and set a cibil score requirement. Errors can happen during this check. 20 of 399 recent Snapmint reviews reported credit report problems.
The short version
- Neither the Bajaj Finserv EMI card nor 0 interest emi apps in india are completely free, as both charge processing fees.
- Bajaj Finance Limited holds an active RBI prepaid instrument issuer licence, while Snapmint has none matched on the registers we check.
- Both apps require permission to read your text messages, contacts, phone identity, audio and location.
- Snapmint users report more credit report problems (20 of 399 reviews) compared to Bajaj Finserv users (5 of 400 reviews).
Sources
- bs viewcontent (rbi.org.in)
- Notifications | Official Website of Reserve Bank of India
- Bajaj Finserv review: charges, licences and safety | Qrates
- 0% EMI Shopping App review: charges, licences and safety | Qrates
- nach mandate for personal loan how auto debit emi repayment works (indialends.com)
- RBI Digital Lending Directions: What They Mean for Loan Origination Platforms - Uncia
- No Cost EMI: The Hidden GST Trap Explained (2026)
- Zero cost EMI on credit cards: what does 'zero cost' stand for?
Disclaimer
Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation.