What is EMI?

EMI, also known as Equated Monthly Installment, is a fixed amount of money that a person has to pay the lender, in most cases the bank, in order to repay the loan over a certain period of time. People generally take high-budget products on an EMI so that their pockets won’t burn you. After buying products on EMI, people should pay their EMI amount on a specific date with the tenure plan they’ve chosen. 

Benefits of buying on EMI

1. Freedom to buy

2. Affordability

3. Easy on Wallet

4. Plan Payments with EMI calculators

5. Leverage Flexible EMI options

6. No Mediators

Our EMI Partners            

1. NIC Asia

2. Samman Multi-Purpose Co-operative LTD 

   1. NIC Asia

We are glad to announce our collaboration with NIC Asia for EMI payment. This collaboration has made it much easier for people to buy goods without burning out their pockets. 

It is easy to apply for EMI as well. All you need is a clear vision of the product you are going to buy and a NIC Asia credit card. If you do not have a NIC Asia credit card, you are going to have to apply for it in the first place. 

How to apply?

For Banks

Step 1: Fill up the ZPPF form.

*Required Information: 

• Credit Card Number

• Details of purchase

• Preferred Tenure

Step 2: After filling up the form, submit the form to the nearest NIC Asia Branch office. 

Step 3: The bank will evaluate your document. This process includes your. Your credit limit is available

Step 4: If the credit is approved, the bank will give the delivery order to Choicemandu. If the credit is disapproved, then you shall be informed by the bank.

Step 5: Choicemandu will deliver the product to you. You shall then sign a Bill of Exchange receipt. 

Step 6: Choicemandu will give the Bill of Exchange to the bank, and the bank will pay Choicemandu the total amount after deducting the bank’s commission.

Step 7: The customers shall pay the bank according to the plan he/she has chosen. 

EMI - ZPFF Tenure Plan

2.    Samman Multi-Purpose Co-operative LTD 

We are glad to announce our new EMI partner Samman Multi-Purpose Co-operative LTD. This EMI collaboration is for all the people who want to get things done in a day. While a bank takes 3 - 5 days to complete the EMI process, Samman Co-operative does the job in a day. 

Things Needed For Applying For EMI

For Government officials

1. Membership - Rs 1,300

2. Citizenship

3. 2 People witness needed

4. A cheque should be issued till the tenure date

For Corporate Officials

1. Membership - Rs 1,300

2. Citizenship

3. 2 People witness needed

4. A cheque should be issued till the tenure date

5. Provident Fund deducted Income Statement

For Store Officials

1. Membership - Rs 1,300

2. Citizenship

3. 2 People witness needed

4. A cheque should be issued till the tenure date

5. Daily Pay

6. Tax Clearance Certificate

The Tenure plans shall be informed to you once you visit the Samman Multi-Purpose office. However, the interest rate depends on the product you’re buying. The rate of interest varies from 3% to 10%.