What started as a craze among youngsters has now become a major part of every Indian’s life. Yes, we’re talking about smartphones. The popularity of smartphones has risen so much that a survey by Visual Networking Index (VNI), a US-based firm, suggested that the number of smartphones is expected to reach 650 million in the next four years.

This unprecedented growth is also spurred by the constant unveiling of new and advanced devices by major smartphone makers like Apple, Sony, Samsung, Motorola, and HTC.

As the technology used in smartphone manufacturing is advancing, so are their prices. This is why a majority of the consumers opt to buy them on EMIs, so as to avoid making full payments at once. With the number of smartphone buyers increasing, the number of EMI providers too have soared as all major banks and NBFCs are offering different plans to facilitate the purchase.

But you might be concerned about the increasing rates of interest, right? Well, there’s a way to get low-interest rate EMIs on smartphones! Read on to find out.

How to Get Mobile Phones on EMI?

You need to follow some quick steps to buy mobiles on EMI. Here are they:

Evaluate your Lender

As mentioned earlier, every bank and NBFC is offering some way for you to take advantage of their EMI scheme. Don’t jump at the opportunity and accept the first offer you get. Get a few quotes from different providers and find out the one that has the lowest rate of interest. Getting a mobile loan after conducting careful research will also aid you in the repayment process by reducing the financial strain.

Look for Exclusive Services

A lot of retailers are gearing up to the idea of selling mobile phones on EMI without credit cards. Keep on the lookout for such sellers as you can save a considerable amount on interest payments. Also, check out some exclusive services like the Bajaj Finance EMI Card. This exclusive card comes with a range of benefits like instant approval, pre-approved offers, and requires minimum documentation that includes your credit documents, KYC documents, address proof for approval.

Shop During Festive Seasons

You might have already witnessed how most of the Indian festive seasons are full of offers and discounts. So, try to shop for a smartphone during the festive periods. This is because you are more likely to get the mobile phone you’re looking for at a discount price, along with, other low EMI offers.

Following these simple steps will ensure that you get easy EMIs on mobile phones. So, the next time you go smartphone shopping, make sure to keep these things in mind and find yourself the perfect smartphone.

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