How to Buy Mobile on EMI? You Need to Know Everything

buy mobile on EMI

When it comes to a big-ticket purchase like a high-end mobile phone, many people use their credit cards to buy it on EMIs. However, not everyone has a credit card. Many Indians are still comfortable staying within their means and spending from their savings. Such people prefer buying a phone using their debit card rather than a credit card. The good news is that now these individuals have the option to buy mobile on EMI without using a credit card. Are you wondering how that’s possible? Here, find everything you need to know.

How does it Work?

These days, many banks allow select customers to make their purchases on EMIs using their debit cards. Using this facility, buyers can purchase their phones on EMIs and repay them within their preferred duration. The buyer must first check if their bank deems them eligible for this option. If yes, select their favourite mobile phone suitable to their budget and select the EMI on debit card option while placing the order. 

During checkout, the buyer enters their debit card details rather than their credit card details. Instead of paying the entire mobile cost from their savings account, the buyer selects an EMI plan. Depending on their plan, their EMI amount is automatically debited from their bank account each month to complete the payment.

Reasons to Purchase a Phone on EMI

There are several reasons to buying a mobile phone on EMI is better than paying for it upfront. Most importantly, paying the phone’s entire cost upfront can dent the buyer’s savings and disrupt their budget. They may find themselves in a financial crunch in case an emergency arises. By buying a phone EMIs, the buyer can pay its cost in small amounts.

Besides that, buying a phone on EMI increases a buyer’s affordability. Since the buyer is no longer dependent on their current savings, they can consider affording a higher-end model they have an eye for. Instead of going for a lower model and compromising with features due to a low budget, now they can opt for a better model without worrying about paying its cost upfront.

Documents Required

The buyer needs to provide a few essential documents to prove their identity, address, and income. These include their Aadhar card, PAN card, passport, salary slips, bank statements, etc. They do not need to physically submit the documents since they can scan and upload the soft copies.

Look for the No-Cost EMI Option

Purchasing a phone on EMI is an intelligent choice. It increases buyers’ affordability and lets them buy a better model without disturbing their finances. A buyer can get an advantageous edge by looking for the no-cost EMI option. With this option, the buyer pays the same price for the phone as they would have paid in a lump sum. Since there are no interest charges, the buyer only pays the phone’s cost spread across easy EMIs.

Buyers now find buying their dream mobile more accessible than ever before. The option mentioned above allows users to buy mobile on EMI without using a credit card. There is no need to stress the finances by paying the phone’s cost upfront, nor do they need to pay hefty interest charges on credit cards. They can now use their debit card to purchase the phone they long for.

By admin

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