Mobile phones are not just “nice-to-have” devices anymore. We live in a world where it’s virtually impossible to get anything done without a smartphone. If you want to buy a smartphone without putting stress on your monthly budget, EMI is the easiest way to get it.
But when you think of buying a smartphone on EMI, the first option that comes to your mind is a credit card. However, using a credit card is not always the best option, and moreover, not everybody has access to credit cards.
Fortunately, other financial products are available in the market today that allow you to buy a mobile on EMI without a credit card. Let’s take a closer look at them:
How To Buy Mobile On Emi Without Credit Card?
Chit Fund
In this digital age, new-age online P2P lending platforms offer you the option to make purchases on EMI without using a credit card. The Money Club, an online chit fund platform, is the best option for people who have no access to the credit card or any other financial options. The process of becoming a member of The Money Club is entirely digital. The online chit fund platform allows groups (verified members) to raise money to buy things by pooling their funds. Each member of the group contributes the same amount of cash each month for a certain period. At the end of the month, each member gets to use the pooled amount for any purchases they deem fit.
Join Money Club Now to Finance Your Mobile
Consumer Durable Loans
A consumer durable loan is the most popular option to buy mobile on EMI without using a credit card. These loans are essentially personal loans borrowed to purchase household appliances like AC, washing machines, refrigerators, etc. The consumer durable loan is easily available at banks and NBFCs. They are offered with minimal documentation and without the need for collateral.
Debit Card EMI
You can also use your debit card to buy a mobile online on EMI without a credit card. Leading banks across India offer this facility to their customers. First, check with your bank if you are eligible for this option. If you are eligible, you can make purchases and repay the borrowed amount in easy EMIs through your linked account while selecting the tenure that’s best suited for you.
EMI Cards
You can purchase a smartphone on EMI without a credit card by using an EMI card. This type of product is generally a pre-approved loan with which you can make purchases and convert them into easy EMIs. Most leading banks that provide consumer durable loans provide EMI card facilities.
Amazon Pay Later
Amazon India offers this service to a few select customers. The Amazon Pay Later feature allows you to use instant credit for purchases on Amazon using the EMI option.
You need to complete a one-time application process to access this credit facility. Once the registration is done, you can make the purchase and pay the credit amount in comfortable EMIs ranging from 3 to 12 months.
You need to be 23 years and above with an active Amazon India account to be eligible. You also need to provide your PAN number and link your bank account with your Amazon account. Your Amazon Pay Later credit limit will be decided based on the details you provide.
Buying a smartphone on EMI allows you to enjoy the features of the best brands without stretching your monthly budget. Make use of these super easy finance options to buy mobile on EMI without a credit card.
