With the iPhone fever unabated around you, it is hard to resist getting one for yourself. Who doesn’t crave for an iPhone after all? You want to buy one, but only one thing is holding you back—your lack of a credit card to buy it in easy EMIs. Everywhere you go, you are required to have a credit card to avail the EMI option. You dig into your pocket. All that comes out is your debit card. Wish it could magically turn into a credit card, right? Is the price tag of the much-desired Apple holding you back? Read on how to buy your coveted iPhone in easy EMIs—without a credit card!
Don’t have a Credit Card? Not a problem!
Getting a credit card might be difficult for some, mainly due to the lack of a credit history or insufficient salary. Checking every box in the criteria list for a credit card might be impossible for a young student or a young professional. Credit card issuers usually have stringent policies governing the issuance of a credit card.
Well, you needn’t worry, as you can now buy your coveted iPhone in easy EMIs without the need of a credit card!
As it turns out, there are certain mobile marketplaces that allow you to shop with your debit card, and convert your purchase into easy EMIs! There is no need for a credit card, and you don’t need to wait for several months, saving up every rupee for your iPhone.
These online platforms work by providing loans on your debit card, after an assessment of your creditworthiness. This is done by analyzing your digital footprint using machine-learning algorithms, big data and Artificial Intelligence. ZestMoney and Finomena are some technology platforms that enable you to buy electronic gadgets, mobile phones and other products in easy EMIs.
To enjoy the benefits of such technology platforms, you should be over 18 years old, have a PAN card, preferably have an Aadhar Card and a consistent source of income. It is not mandatory to have a credit card. You can shop on such platforms, have your eligibility checked and if your application is approved, you will be asked to make a down payment. Once this is done, your product will be shipped.
Other lending agencies like Bajaj Finserv offers consumer durable loans which you could avail to buy your iPhone in easy EMIs. Again, it is not mandatory to have a credit history.
So, what are you waiting for? Go ahead, make full use of the technology that enables you to buy on EMIs, and put the Apple on your shopping list!