Purchase Mobile Phone on EMI- 5 Reasons that say yes



Millennials are tech-savvy and love to have premium smartphones whenever the latest versions are released. Almost nothing moves in this world without a smartphone, from online school to electric bill payment, from making selfie videos to official chats with your boss. To buy your favorite mobile phone, either you can pay the full amount upfront using your debit /credit card or buy an EMI mobile phone. Although the former payment method looks like a one-shot deal, it puts a big dent in your monthly expenses since the price of the latest models is high, making it a financial burden. The latter option to get the latest phone with buy now pay later in India looks more affordable and less stressful. Let’s discuss 5 crucial reasons to buy a mobile phone on EMI.

5 Reasons to buy a mobile phone on EMI

  • It makes it possible to buy Premium Phones 

Buy now pay later India EMI option made available by sellers will allow you to buy premium mobile phones, which otherwise would be unaffordable if you have a shortage of cash for immediate purchase. Most salaried employees with low spending limits can use EMI, which will considerably reduce the financial burdens, thereby helping you own premium mobile phones that you love. Suppose you want a phone with the best camera available in EMI, but you choose a budget phone with lesser camera quality paying the full amount. In the long run, you will be regretting the purchase and be unable to take high-quality photos and videos of some of the crucial moments of your life. To avoid such disappointments, buy a premium phone with the best features that give an excellent user experience through monthly EMI’s. 

  • Lowest Interest Rates

EMI mobile phone purchase facility can be availed at lower interest rates which fluctuate from 13% to 24% based on the finance service provider. Also, if you make repayments within time, some mobile loan providers will offer zero interest rate installments called zero cost EMI. If you manage to do this, you can buy premium mobile phones without paying any extra charges and improve your credit score. The advantages of the No Cost EMI facility include the full loan in EMI without any down payment, easy repayment terms, minimal documentation, minimum processing fees, etc.

  • The flexibility of Loan Amount and Repayment Terms

Buy now pay later India EMI option comes with a lot of flexibility. Based on your eligibility and loan repayment capacity, you can take a mobile finance loan up to Rs 5 lakhs, allowing you to buy the best premium mobile phones without any hassles. Also, the loan repayment terms of up to 60 months will enable you to pay the installments at your own convenience and budget. Usually, the repayment terms provided vary from 3, 6, 9, 12, 18,24, 36, 48, and 60 months.

  • Loan transfer within 24 hours 

Once you apply for an EMI mobile phone using personal mobile loans, the loan provider will first check your eligibility and, if satisfied, will give you a choice on the loan options. Once you opt for the loan amount and repayment terms, you need to upload your documents such as ID proof, address proof, bank statement, etc. Once the verification process is completed. The loan will be credited to your bank account within 24 hours, and then you can make the premium phone purchase without any concerns about the budget or pricing of the phone. 

  • No Collateral or Guarantor Required 

The best part about buying an EMI mobile phone is that you need not pledge any collateral or guarantor to get a mobile loan approval whatsoever. Generally, most loans like home loans, education loans, etc., over Rs 1 lakhs need a lot of documentation. So, we have to provide some form of collateral and go through a lengthy verification process that will take days to process. But with mobile personal loans, there is no long waiting period, and you will get loan approval with a good credit score of 600 or more and a monthly income of Rs 13500 to Rs 15000.


You can buy an EMI mobile phone at any price, irrespective of your current cash crunches or any other financial obligations. The above 5 reasons make an excellent case for using the buy now pay later India strategy. Do thorough research on the loan providers and choose the best among them which provide loans with the least hurdles so that you can own a premium mobile phone that you always wanted but felt out of reach without EMI.

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By Michael Caine

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