Today, most commercial banks in India offer credit cards for their customers. Yet, the Indian market has been primarily a debit-card based one. Even today, a significant percentage of the population does not own or do not use a credit card. A large number of others fail to qualify for a credit card due to low incomes or unemployment. 

If you belong to this group that doesn't have a credit card, this guide is for you. Here, we show you how you can purchase a mobile phone on EMI without a credit card.

Why opt for EMI when purchasing a mobile phone? 

Irrespective of your age and profession, owning a smartphone has become mandatory today. A top-of-the-line smartphone simplifies all our daily tasks, from completing professional assignments to online shopping, consuming entertainment to connecting with friends and family.

With new product launches and brand new features, customers have to update their mobile phones once every couple of years or so. However, the latest flagship mobiles of leading mobile manufacturers come with a massive price tag, starting from tens of thousands of rupees to more than a lakh.

The hefty price tag makes it difficult for regular customers to pay for it at one go out of their pocket. Fortunately, today it's possible to purchase a smartphone on EMI. With EMI, you don't have to put off your purchase till you have saved for it. You can complete your shopping now and pay for it later, as manageable instalments. 

What are the advantages of purchasing a smartphone on EMI?

There are many advantages of purchasing a smartphone on EMI rather than paying upfront. Some of these advantages are mentioned below.

  • Easy on your Budget

Today, a good smartphone can cost anywhere from Rs. 25,000 to Rs. 1,00,000. When you pay the whole amount upfront, it can dent a big hole in your monthly budget, disrupting your other payments and emergency needs. When you pay on EMI, you can pay in small amounts over a while.

  • Afford a Flagship Model 

Very often, people don't purchase a flagship model because they cannot afford to pay the full amount upfront. As a result, they go for lower models with limited features. By opting to pay in EMI, you don't have to pay the full cost at one go. As a result, you can purchase a better model than you would be able to afford if you were to pay for it upfront.

  • No Extra Costs 

Purchasing a smartphone on EMI is a smart choice as there are no additional costs (0% interests). You pay exactly the same amount as you would pay if you were to complete the purchase as a lump sum.

How to buy a mobile phone on EMI without a credit card? 

There are multiple ways you can complete your smartphone purchase on EMI without using a credit card. Let’s take a closer look at the various options available to consumers.

  1. Consumer Durable Loans 

A consumer durable loan is the most popular choice to pay for gadget purchases. These loans are available for big-ticket purchases like televisions, ACs, laptops, PCs, washing machines, refrigerators, water purifiers, music systems, furniture, smartphones, etc. 

  • The loan amount ranges from Rs. 5000 to Rs. 5,00,000, depending on the lender
  • Tenure ranges from 3 months to 24 months and varies from lender to lender
  • No cost EMI 
  • Minimal documentation 
  • No need for a security deposit or collateral

Where and how to avail of this option?

NBFCs like Bajaj Finserv, Tata Capital, IDFC First Bank, etc. offer consumer durable loans to purchase expensive gadgets and home appliances. All you need to do is walk into a partner store, choose your preferred smartphone model, and let the sales executive know that you would like to complete the purchase via a consumer durable loan.

Some of the well-known retail partners for consumer durable loans include Croma, Poorvika, Reliance Digital, Amazon, Flipkart, etc. You can find the complete list of partner stores by visiting the section "Find the nearest store" on the website of the NBFC.

The sales representative requires you to fill in an application, submit photocopies of your ID proof, address proof, and income proof. You can then pay for the purchase as EMIs using your debit card, internet banking account, or by issuing post-dated cheques.  

  1. Consumer Lending Fintech Companies like ZestMoney

ZestMoney is a leading consumer lending Fintech Company. The main objective of these companies is to provide credit to customers who have no credit cards and other financing options. It allows you to purchase your preferred smartphone on EMI without any down payments.  

All you have to do is register with ZestMoney and choose ZestMoney as your preferred payment option when you check out. ZestMoney is available at leading online marketplaces like Flipkart, Amazon, Paytm, MI, etc. 

How to use this option? 

You can purchase your preferred smartphone using ZestMoney in three easy steps:

  • Sign up for ZestMoney by providing a few key details
  • Complete your KYC online by uploading the required documents. Once your registration is complete, ZestMoney assigns a credit limit for you. 
  • Choose a mobile phone within this credit limit. Complete your purchase by shopping at a ZestMoney partner. 
  • Pay for your purchase using your debit card, internet banking account in easy EMIs. 
  1. EMIs on Debit Cards

Leading commercial banks like HDFC, Axis, ICICI now allows their debit cardholders to pay for their purchases using EMIs on debit cards. These banks will enable you to complete the purchase via EMIs for your preferred duration.  

How to use this option? 

  • First, check with your bank if you're eligible for this option.
  • If yes, then complete your mobile shopping at your chosen online retailer. 
  • While choosing the payment method, opt for EMIs on debit cards and select your bank and enter the card details.

Pay for the purchase from your linked bank account in easy EMIs. 

  1. Amazon Pay Later

This is a new service from Amazon India offered to a select set of customers. The Amazon Pay Later feature allows customers access to instant credit for purchases using EMI on Amazon India. 

To avail of this service, customers have to complete a one-time setup process. Once you have successfully registered, you can complete your smartphone purchase on Amazon and pay for it later, with EMIs ranging from 3 to 12 months. 

To be eligible for this service, you should have an active Amazon India account and be over 23 years old. Additionally, you have to provide your PAN number and link your Amazon account with a bank account. Based on the details you provide, Amazon's lending partner will decide your credit limit.

Note that this feature is currently available only to select customers, and Amazon is working on making it widely available to all. If using Amazon Pay Later, then it goes without saying that you can purchase the mobile only at Amazon and not on other online marketplaces. 

Purchase your Dream Mobile Today, on EMI, without a Credit Card 

It’s easier than ever before to own your dream mobile. Use any of the three options mentioned here and pay for your smartphone in easy EMIs. Make sure to check the terms and conditions of the payment method, to find the right one that works best for you.


1. What are the documents needed for mobile EMI?

The customer needs to provide basic KYC documents like proof of identity, address proof, income proof and passport size photographs.

2. Can a person finance a phone without any credit history?

Yes. A person having no credit history can finance a smartphone by simply paying a deposit. The amount of deposit varies based on the lender and the credit score of the applicant.

3. Is it better to buy phones on EMI?

Usually the interest on consumer durables is higher. Also, any default or delay in payment of EMIs will result in a reduction of credit score as well as higher interest and penalty. Hence, it is advisable to purchase a phone only when customers can afford it.