Finance

Published on September 27th, 2019 | by Sunit Nandi

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5 Ways To Buy Mobile On EMI That You Did Not Know

Today, mobile phones have become a necessity. Almost every person owns a smartphone. There are some reasonably priced mobiles in the market. But, there are other brands like the iPhone and Samsung Galaxy that launch phones which cost over 60000.

Most people have the desire to buy these expensive phones. But, the burden of payment stops them from doing so. In India, credit card penetration is not so high, which is the reason why the EMI facility is not used to the fullest.

But, there are many other ways that a buyer can choose from to get EMI without having to use his/her credit card.

1. Zest Money

Zest money is one of the safest options to get mobile on EMI. It is a simple procedure. The buyer can enter all the details and take care of the routine KYC details too. The buyer can choose Zest Money as a payment option on the mobile site.

It is convenient as the buyer can choose the tenure and time of the EMI. Zest money does not have the hassle of down payment. It has 0% EMI.

The only hassle a buyer may face while using zest is the need to upload documents every single time a purchase needs to be made. It is now an option on sites like Amazon and Flipkart.

2. Flipkart EMI

Flipkart has a new option where it is now possible to pay on EMI using your debit card. This scheme is currently available only for HDFC users. A certain amount gets debited from your bank account monthly.

The processing is secure, and the interest amount is not at all high, and it is easy to use on the Flipkart app as well. In case you are an HDFC user and are not being able to access this option, go to your bank and inquire about the same.

3. Bajaj Finserv

The services of Bajaj is recommended by offline and online retailers. It is a zero-cost option for all the buyers of electronic products. Bajaj has been in the market for a very long time. Your limit of EMI gets decided upon your credit-worthiness.

Bajaj can be used for both online and offline services, but the first buy needs to be made in an offline retail store. They also ask for a small amount of down payment, which may be problematic. Besides these things, Bajaj is a recommended EMI service.

4. Kissht

The best part about Kissht is that it is available on the app as well on a web page. Once all the relevant documents get uploaded on the page, an EMI card gets issued for the buyer. The Kissht app is not seamless, but it has a wide variety of services. It also offers personal loans to customers.

They have a zero percent interest rate on their EMI service. Even though the documentation process is a hassle, it is an excellent option to consider for EMI.

5. Snapmint

Snapmint does not have any problems in terms of excessive documentation. It has tied up with big merchant sites like Amazon and Flipkart. They offer a zero percent interest rate if you opt for a three month EMI option from their services.

It’s been supported as a payment option on many merchant sites. Even though they have a compulsory down payment, they have a reasonable rate of interest on their EMI option.

6. Amazon Pay

Amazon has now launched a new payment option called amazon pay. This enables mobile users to get EMI. This mode of payment gives credit at once without any hassle and at a low rate of interest. It gives EMI on the debit card of the buyer.

The registration process is simple. Through an invite-only program, customers have to complete a simple two-step registration process. The amount of EMI availability depends on the credit-worthiness of the buyer.

Aadhar and PAN details need to be given by the customer, and the verification gets completed once an OTP gets received by the customer on the registered mobile number. Amazon Pay is a new feature that is being used by multiple users. Its convenience and easy registration is a bonus.

Laptops, phones, or any other electronic features can now be bought with a card. These various lending options have made life much easier and simpler. Documentation is fast, and so is approval. Many banks like HDFC and Axis allow their customers to buy gadgets using their EMI option.

The banks provide this option on their website as well. Nowadays, it is possible to get an EMI without having access to a credit card. Thanks to various other platforms and services, now obtaining a gadget are easy.

People do not need to stress about the payment option. They can buy their favorite products with no stress.

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I'm the leader of Techno FAQ. Also an engineering college student with immense interest in science and technology. Other interests include literature, coin collecting, gardening and photography. Always wish to live life like there's no tomorrow.



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