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Six Easy Ways to Buy a mobile on EMI without using a Credit Card

Mobile on EMI using Bajaj Finance Card


The use of mobile phones is no longer merely a “nice-to-have” device. Nowadays, you live in a world where you can’t do anything without a smartphone. When buying a smartphone on EMI, the easiest way to do so is using a credit card to get it without putting too much strain on your monthly budget. Despite this, it is not always the best thing to use a credit card, and some people do not have access to credit cards. However, you can now purchase a mobile on EMI without a credit card due to the availability of other financial products in the market today.

The top six ways to buy a phone on EMI are listed below without using a credit card.

Chit Fund

Indeed, you can make purchases mobile on EMI without a credit card with the new-age online P2P lending platforms. For people who do not have access to credit cards or any other financial options, an online chit-fund platform is the best option for them. It is entirely digital for a person to become a member of the chit-fund platform. A chit-fund platform provides verified members with a means of raising money to purchase items by pooling their funds with others. Each group member is required to give a specified amount of money each month for a specific duration of time. In the end, each member can use the pooled money for any purchases they deem appropriate at the month’s end.

Consumer Durable Loans

There is a possibility that you might wonder what a durable consumer loan is and how you can buy a mobile on EMI without a credit card. The most common option for purchasing a mobile on EMI without a credit card is to get a durable consumer loan. This kind of loan is a personal loan used to purchase home appliances like refrigerators, air conditioners, and washing machines. Banks and non-banking financial institutions are happy to provide you with durable consumer loans. A minimal amount of documentation is required, and collateral is not required to obtain the loan. As a result, salaried and self-employed individuals can obtain durable consumer loans from banks and NBFCs such as Bajaj Finserv. If you want a durable consumer loan, the eligibility criteria may differ depending on their profile, loan amount, income, and repayment history, among other factors.

EMIs on debit cards

You can also purchase a mobile on EMI using your debit card as an alternative to a credit card. In India, several leading banks offer their customers the facility of EMI on a debit card. Therefore, it would be best to check with your bank first to see if this option is available. Then, you can choose the tenure that suits your needs while purchasing and repaying the borrowed amount in easy EMIs through your linked account.

EMI Cards to buy a mobile on EMI 

You can purchase a smartphone on EMI at physical stores and online stores such as Amazon, Flipkart etc., without using a credit card. For this purchase, you can use an EMI Bajaj Card. If you already own the Insta EMI Card, you should know how to add Bajaj EMI card on amazon or Flipkart before making a purchase. Insta EMI Card comes with a pre-approved loan of Rs 2 lakh.

Generally, the term “pre-approved loan” refers to a loan. That can be used to purchase something and converted into easy EMI payments. It is generally accepted that most leading banks. That are offering durable consumer loans offer EMI cards as part of their service offerings. In the case of EMI cards, there is a facility called No Cost EMIs, meaning no interest charges. To apply for an EMI Card, individuals must have a regular income and be between the ages of 21 and 65.

Amazon Pay Later

This service is only available to a select few customers at Amazon India. When you use the Amazon Pay Later service, you get the option to use instant credit for purchases made on Amazon on an EMI basis. This credit facility can only be accessed through a one-time application process on Amazon. After completing and approving the registration process, you can purchase a mobile on EMI without a credit card. You must be at least 23 years of age and have an active Amazon India account to qualify for this offer. In addition to providing your PAN number, you will need to link your bank account with your Amazon account. The Amazon Pay Later credit limit will be determined for you depending on the details you provide.

Buy Now Pay Later 

Banks and non-banking credit institutions offer to buy now pay later facilities. That allow you to purchase mobile on EMI without a credit card without making any immediate payment. The buy now pay later facility offers an interest-free period of 15 to 45 days. The amount will automatically debit from your bank account on the due date. However, if you cannot repay the due amount within the allotted time frame. You will be charged interest at the current rate by the issuer. A BNPL customer who does not wish to repay. The total amount on the due date can convert their dues into an EMI. 

Final Thoughts

It is now much simpler to purchase a mobile on EMI without a credit card. In this day and age because there is a greater variety of financial products. Available from a greater number of institutions as well as a greater penetration of advanced technologies. This starkly contrasts with a few years ago, when the concept was nonexistent and had not even been thought of.

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