A lot of people in India face rejections when they apply for a credit card whether it is due to a lack of documents or eligibility. Therefore, whenever they want to buy a mobile phone or any other electronic product, either they can buy it in full cash or EMI. Buying a flagship phone in full cash is not easy for middle-class individuals therefore they look for a way to buy electronics on EMI without a credit card. Here you can explore the Top 5 ways to buy Mobile on EMI without having a credit card. There are various financing options available that can get you your favorite mobile even if you don’t have a credit card.
6 Financing Option to Buy Mobile without Credit Card
You can go through the six types of options that many service providers give other than a credit card and you can explore all of them below:-
When you visit any mobile shop, there are various lenders like Home Credit, Bajaj Finserv, and many others available at the mobile shop. You can borrow loans from them and buy mobile on EMIs at the mobile outlet. They offer you no-cost EMIs on small loans at a nominal processing fee and all you need is Aadhaar Card and a bank statement to get the loan.
Debit Card EMI
Many banks like HDFC and ICICI give a pre-approved limit on your credit card to buy consumer durable goods and it includes mobile phones as well. If you are a loyal customer of the bank and do regular transactions from your account, then you might get this pre-approved limit. So, on Pine Labs, you can use your debit card to convert the transaction into EMI and do shopping on EMI without credit card.
Lenders like Bajaj Finserv, offer EMI Card with a pre-approved limit that can be used to buy electronics on EMI. You can also use these EMI cards for buying mobile phones and pay the EMI for that particular transaction.
Buy Now Pay Later
There are many Buy Now Pay later apps that can be used to make payments for electronic gadgets. These apps give you the option to buy the product at a particular time and make the payment of that amount later in easy installments. You can buy your favorite mobile through these apps without having a credit card.
Short-Term Loan Apps
If you want to make without credit card EMI shopping then you can make use of the Short-Term Loan Apps available on the play store. These apps lend you a small loan for a small tenure. So, by borrowing money from these apps you can buy a mobile phone and pay the loan amount in EMIs. There is no need for a credit card to buy a mobile if you can pay through short-term personal loan apps.
Amazon Pay Later
If you are willing to buy mobile on EMI without credit card, online from Amazon then you can use the Amazon Buy Now Pay Later option. Amazon will make the payment on your behalf and later on, you will have to repay the money in easy installments.
So, the above six ways will help you to buy your favorite flagship mobile on EMI without credit card. Even if you are unable to apply for a credit card, you have other EMI options that you can avail of to buy the phone. All of the above 6 ways will help to get the mobile on EMIs and there is neither a need for a credit card nor credit card EMI.