Though the price of smartphones has come down it is still difficult for many people to get one in the aspirational class such as a high-end Samsung phone. These so called mid ranged phones are the ones that are with good specifications (at least 3 GB RAM, 32 GB ROM) and what will also constitute durability. These Samsung phones are difficult to get by some people who do not have a credit card as banks have strict policies in issuing one and not eligible for one. Even if they take personal or consumer durability loans they will be getting bad deals as they don’t have good credit score.

This article is for people who want to buy a Samsung mobile phone using EMI on debit cards. Yeah you read it right EMI on debit cards.

Getting a phone on debit card EMIs

There are multiple online lending platforms that let you shop using your debit card and converting the payments into easy EMIs. Thanks to these lending platforms, you can shop with your debit card with ease now!

How it Works: The money lender pays the price to the seller upfront, and you make the down payment and the EMIs to the lender. 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 enables 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.

The process is as easy as 1-2-3

All you need to do is to

1. buy your mobile phone at their partner outlets,

2. sign up and upload your KYC documents. You will be required to

3. 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 before hand and check your eligibility to make sure there is no eligibility problem after making the purchase.

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

By making use of these new age lenders to get that much longed-for Samsung mobile phone by taking EMI on your debit card.