Can you purchase a brand new mobile phone with your debit card? Yes, it’s possible. Many banks, including Bank of Baroda and HDFC, allow their customers to buy brand new mobile phones using their debit cards. And you can pay the bill amount in the easy EMI option.
Whether you are a college student, professional, or budget user, it’s the article you must read. Because here, you will learn how to buy a mobile on EMI with a debit card and its advantages.
Mechanism of Buying Mobile on EMI with a Debit Card
There are many bank partner outlets and online platforms where you can visit and buy brand-new mobile using the debit card EMI option. There are almost two lakhs retail outlets in India where you can use this EMI option.
Not only this, online platforms like ZestMoney allow people to buy mobile on EMI using a debit card. You make the down payment, and the remaining balance is paid using easy EMI options.
How to Buy a Smartphone on EMI with a Debit Card?
Buying your favorite smartphone on EMI with a debit card is a hassle-free way. Here is how you can proceed.
#1. Carry your debit card with you when you visit a bank partner outlet to buy a mobile.
#2. Select your favorite smartphone of your choice.
#3. If you have not filled out the KYC form yet, fill it out and complete the documentation.
#4. Make the down payment when you are considered creditworthy.
#5. After these simple steps, your purchase will get converted into easy EMIs.
#6. The bank will keep processing the conversion of payment into decided EMIs.
#7. The process is complete; you have your mobile without clearing all billing amounts upfront.
Advantages of Buying Mobile on EMI using Debit Card
Nowadays, buying a brand new and dream smartphone on EMI with a debit card has become easy. You do not need to proceed with lengthy documentation and several hassles. It also has other advantages, such as mentioned below.
#1. It’s a beginner-friendly and straightforward way to buy mobile on EMI.
#2. There is no transaction fee and lengthy paperwork.
#3. Debit card EMI option can be used to buy mobiles of over 100 brands.
#4. Almost two lakhs merchants allow customers to use this payment method.
#5. Some banks also provide cashback and gift vouchers.
Conclusion
Buying mobile on EMI with a debit card is an affordable, convenient, and user-friendly way to buy costly mobile phones. Users do not need to rely on high-interest credit cards and other credit options.
Here, you can pay an interest charge of up to 16%, depending on which bank’s debit card you use. It’s a great way to buy a high-value product with limited income sources. Thus, we hope now you have understood how to buy a mobile on EMI with a debit card.
Other Articles
Why You Must Have A Side Hustle In 2022
