How To Buy A Mobile Phone On Emi Without A Credit Card?

By Author: Lenditt
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Why Should You Buy a Mobile on EMI?
Buying a mobile on EMI without a credit card has several benefits.

Easy on pocket:
When you buy a phone, you may have less money for emergencies, and your monthly budget may deviate off course. However, purchasing a phone using an EMI mobile helps to guarantee that you always have adequate cash on hand. You may easily purchase, whether looking for the best mobile under Rs. 10,000 or high-end mobiles!

High-end phones get affordable:
The price of a smartphone increases with the quality of its specifications. You are not required to pay the total price when you purchase a phone on EMI mobile finance. As a result, you may afford to buy your preferred high-end phone without having to pay the entire cost upfront.

Save more with no-cost EMI mobiles:
With free EMI, paying for a mobile loan in installments becomes considerably more alluring. There are no additional fees incurred.

How To Buy Mobile On Emi Without Credit Card?
However, a credit card is the first thing that springs to mind when you consider paying for mobile on EMI. Nevertheless, ...
... using a credit card is not always the best choice, and not everyone has access to them. Thanks to alternative financial tools that are now readily available, you can purchase a mobile on EMI without using a credit card.

Debit Card EMI- The most straightforward way to buy a mobile on EMI without a credit card

You can also use your debit card to purchase a cell phone on an EMI phone plan without needing a credit card. Leading Indian banks offer this choice to their customers. Ask your bank first to see if you are eligible for this option. You can select the appropriate term, make
purchases, and immediately refund the borrowed amount through your associated account if you are qualified.

Features & Benefits of Debit Card EMI
There is no money held back in the account.
EMI on mobile made with your debit card does not incur any additional fees.
There is a processing fee plus GST.
With convenient repayment alternatives, you can select the tenure according to your needs, ranging from 3 to 12 months.
The procedures and waiting periods for approvals and payouts are nonexistent. With a mobile loan, you receive your money right away!
There is no paperwork necessary.
Down payment is stress-free.
Take advantage of 100% financing to purchase your needed services and goods.
Consumer Durable Loans- Easiest way to buy a mobile on EMI without a credit card

You might be unaware of a consumer durable loan or how to buy a phone without a credit card on an installment plan. So let us know that a consumer durable loan for mobile finance is the most popular way to acquire a phone on an installment plan without using a credit card. These loans are used to purchase household goods like refrigerators, air conditioners, washers, etc. At banks and NBFCs, credit for durable consumer products is conveniently available. Bare minimum of paperwork is given to them without the security request.

Eligibility Criteria for mobile on EMI
Both salaried and self-employed people can get mobile loans as it is a part of consumer durables from banks and NBFCs. Depending on the applicant’s profile, income, loan size, payback history, etc., the requirements for a consumer durable loan may change. The following is a list of the eligibility requirements that lenders have for loans for consumer goods,
Salaried Individuals:
● Age: 21 years – 65 years
● Monthly Income: Minimum Rs 25,000
● Tenure in the current organization: Minimum 1 year
Self-employed Professionals:
● Age: 21 years – 68 years
● Income: Minimum Rs 1.5 lakh
● Employment Stability: At least 2 years in the current business
For companies providing Consumer Durable Loans Lenditt charges between 0.1 and 0.4% in interest daily, although a consumer durable loan rate for mobile finance varies from lender to lender. Some lenders additionally offer 0% interest depending on their promotional deals. Most lenders impose a small processing fee of 1% to 3% of the loan amount.

How to Get a Personal Loan from Lenditt to Buy Mobile on
EMI

Check your eligibility: In about 2 minutes, you may determine your eligibility for a mobile loan by providing the
necessary information.
Choose your loan plan: Using the available options, select the mobile loan size and period that suit you.
Upload required documents: All necessary documents must be uploaded before they can be validated.
Loan transfer to your bank account: Within 24 hours of verification and loan agreement filing, the mobile loan amount will be credited
to your account.

In Conclusion
Nowadays, thanks to numerous institutions’ wide range of financial options and increased technology adoption, buying a mobile on EMI without a credit card has grown significantly simpler. This sharply contrasted with a few years ago when the concept did not exist. One
choice to think about is getting a mobile loan to pay for a mobile phone. Visit the Lenditt website or download the app to apply right now if you want to take advantage of one of the mobile loans.