Step-by-Step Guide To Buy a Smartphone with your debit card 

Wait, what? Say that again? Really?  You can purchase a mobile phone in easy EMIs with your debit card? Yes, you read that right! Read on to know more!

Not everyone has the luxury of owning a credit card—banks have stringent policies when it comes to issuing one. You might be a student, saving up, or a professional who is fresh out of college. Or you might not fulfil the salary criteria in order to be eligible for a credit card. Whatever the reasons might be, there is no reason to fret anymore, as you can make that much-desired mobile phone purchase in EMIs even without a credit card!

Perhaps, you have been eyeing your favourite mobile for some time now, but backing off due to the lack of a credit card. It is impossible to buy the phone outright due to the steep price, but you also do not have a credit card to break it up into EMIs - makes you kind of wish your debit card would magically turn into a credit card, right?

How to use your debit card to buy a mobile phone on EMIs?

There are various online lending platforms that let you shop using your debit card and convert it into easy EMIs. Thanks to these technology platforms, you can shop with your debit card with ease now!

How it Works

The technology provider pays the price to the seller up front, and you make the down payment and the EMIs to the technology provider. In short, such companies provide a loan on your debit card, enabling you to purchase your dream phone. ZestMoney, Finomena, and FastBanking (now Kissht) are a few online platforms that have a quick approval process and EMI options that enable you to buy mobile phones, electronics and even furniture on your debit card.

You will be required to make a down payment, only after you are approved and your documents comply with the KYC norms. Approval is generally quick and happens within a working day.

Steps for Buying a Mobile Phone on debit card EMI

All you need to do is to

1. buy your mobile phone at their partner outlets,

2. sign up and upload your KYC documents. 

3. You will be required to make an initial down payment if you are considered credit-worthy

Once you complete these 3 easy steps, your purchase will be converted into EMIs.

It will be better to sign up beforehand and check your eligibility to make sure there is no eligibility problem after making the purchase.


There are two factors to keep in mind - You will need to make an initial down payment, and interest charges apply.

So make use of the latest benefits that technology offers, and buy that much-longed-for phone on EMIs on your existing debit card.

FAQs - How to buy mobiles on EMI with a debit card

1. What is the limit of the transaction value for purchasing mobile phones through debit card EMIS?

A. The maximum limit that can be approved for debit card EMI transactions will depend on the guidelines of the customer’s bank and the relationship of the customer with the bank.

2. What will happen if the customer does not pay EMI for the mobile phone purchased?

A. If the customer does not pay the EMI for a mobile phone purchased on time then the bank can levy interest at an increased rate or can levy a penalty for such delay or default. Also, non-payment of Debit card EMI on time will lead to a reduction in the credit score of such a person which can have long term repercussions.

3. Can a person pay all the EMIs in a single payment?

A. Paying all the EMIs in a single payment is known as pre-closing the loan account. The lender may charge nominal pre-closure charges as per their guidelines in this regard.