Benefits of Buying a phone with No-cost EMI

Posted by amrina alshaikh on July 28th, 2019

In a no-cost EMI system, you are allowed to pay for any product that you buy in Equal Monthly Instalments by not paying any interest on the original sum. For example, if you buy a mobile phone worth 30,000 and choose to pay it in 10 months then after the end of each month you pay 3000 rupees. Therefore, you pay only the principal amount and nothing more. This comes as a huge benefit for people who avoided buying expensive products as they had to pay the entire amount at once as well as for people who did not want to opt for an EMI option because of the high rates of interest.

• Explore better options

Buying a mobile on EMI without credit card provides the option of exploring costlier items which would otherwise have not been considered. Since money does not have to be paid as a one-time lump sum amount, we can opt for high-end devices which we would have dreamt of buying. Most people end up buying phones which are below their preferred specifications because of their prices. However, buying a mobile on EMI without credit card has been a great boon to people who are interested to buy smartphones with high-end specifications.

• Do not impose a burden on your wallet

Buying a mobile on EMI without credit card does not impose a lot of burden on your pockets. Since the entire amount is not filled at once, things ease out for whoever is paying. The buyer has the option of paying in small amounts each month by opting for EMI. This is easier as it does not require a lot of money to be arranged in order to buy a smartphone within a short notice. The EMI option is convenient for most consumers nowadays as these are generally deducted from a fixed income.

• Avail flexible paying options

The amount to be paid at the end of each month, as well as the duration in which the entire amount is to be paid, is decided beforehand keeping in mind the price of the mobile and the financial condition of the buyer. This ensures that a customer does not have to go beyond his means in order to buy his desired smartphone. The EMI options are extremely flexible and are specially designed to relieve the consumer of any excess financial burden.

• Pay only the original amount

Availing the option of no-cost EMI is of greater benefit to the customers as they do not have to pay any interest on the original amount. As a result, consumers get the option of not paying the entire amount at once and clearing the dues bit by bit in small instalments without paying any extra amount. The original price of an item is charged under the no-cost EMI scheme while providing the consumers with added advantages.

Thus, buying a mobile phone by availing the option of no-cost EMI has come as a boon to consumers interested in buying expensive smartphones. Since no interest is charged, no extra amount has to be paid in order to avail this option. It can be easily opted for by very simple steps on various online shopping portals.