How to Get Mobile Phones on 36 Months EMI? A Comprehensive Guide
As mobile phones have become an essential part of our lives, it has become difficult to imagine a life without them. However, buying a new phone can be a costly affair for many individuals, especially those who can’t afford to pay upfront. This is where EMI or easy monthly installment plans come in handy. In this article, we will discuss how you can get mobile phones on 36 months EMI.
Step 1: Choose the Right Mobile Phone
The first step to getting a mobile phone on EMI is to choose the right phone that you want to buy. You can browse through various e-commerce sites or visit your nearest mobile store to check the prices of different phones available. Once you have decided which phone to purchase, you can move on to the next step.
Step 2: Check If the EMI Option is Available
Now that you have decided on the phone you want to buy, the next step is to check if the EMI option is available. Most e-commerce sites and mobile stores offer EMI options on specific credit cards or through financial service providers. You can check if the EMI option is available by visiting the product page or by asking the sales representative.
Step 3: Choose the EMI Plan
Once you have confirmed that the EMI option is available, you need to choose the EMI plan that suits your budget. The EMI plan varies from bank to bank or financial service provider. You can check the EMI calculation on the product page or by using an EMI calculator available on the bank’s or financial service provider’s website.
Step 4: Apply for the EMI
After choosing the EMI plan, the next step is to apply for the EMI. This involves filling out an online application form or submitting the necessary documents to the bank or financial service provider. The documents required may vary depending on the provider, but generally include proof of identity, address, and income. Once the formalities are completed, the bank or service provider will carry out a credit check to determine your eligibility for the EMI plan.
Step 5: Complete the Transaction
Once your application is approved, you need to complete the transaction by making the down payment. The down payment amount is generally 10-15% of the total amount, depending on the provider. Once the down payment is made, the bank or service provider will process the EMI plan and charges will be added to your credit card bill each month.
Conclusion
Getting a mobile phone on 36 months EMI is an excellent option for individuals who cannot afford to pay upfront. However, it is essential to keep in mind that EMIs come with additional charges such as interest and processing fees. Therefore, it is essential to choose the right EMI plan that suits your budget and to make sure that the EMI payment does not affect your monthly expenses. With the right phone and the right EMI plan, you can now enjoy the latest mobile technology without the financial burden of paying upfront!
