How to buy an iPhone on EMI without a Credit Card?

If there is one smartphone that has a cult following and never goes out of trend, then it’s undoubtedly, the ever-popular iPhone- known for its sleek design, exclusive performance, and advanced technology, captivates tech enthusiasts worldwide. However, the high price tag of an iPhone can be a barrier for many aspiring buyers. Fortunately, today’s flexible financing options make it easier than ever to overcome this challenge. You no longer need a credit card or dip into your savings to own one. With convenient EMI plans available without a credit card, getting your hands on this iconic device is now simpler and more budget-friendly than before. In this blog discover the hassle-free ways on how to buy an iPhone on EMI without a credit card.

Step-by-step guide on how to buy an iPhone

Before opting for an EMI plan to buy an iPhone, it’s important to understand the various options offered by retailers, along with the benefits, pricing, and terms of each plan. Below, we’ve outlined the key steps to follow before making your purchase.

1. Research and Select the Model of your choice– The first step in your iPhone selection journey is to decide on the model of the iPhone. Whether to buy the iPhone 15, 11 or some other model.
2. Choose a Retailer– Once you’ve settled on a model, find a retailer that offers EMI facilities without the need for a credit card. 
3. Check the Eligibility– Before moving forward, make sure you meet the criteria. If you’re salaried, you should be between 18 to 60 years of age. For those self-employed, the age limit extends up to 65 years. Documentation for a digital product loan includes standard identity and address verifications like: PAN Card, Aadhar Card, Driving License, or Voter’s ID, Utility bills such as electricity or post-paid/landline, provided they’re no older than two months, can also be used, An updated bank statement or passbook from the last 90 days is required, While a passport-sized photo can be helpful, it’s optional since photos can often be taken on the spot.
4. Select EMI OptionWhen you’re checking out, be it in a physical store or online, opt for the EMI payment method. Avoid the credit card EMI choices instead focus on those tied up with finance companies or NBFCs.
5. Complete the KYC Process– As with any financial transaction, you’ll need to verify your identity by submitting KYC (Know Your Customer) documents. Some platforms allow you to upload these documents digitally, while others may require physical copies.
6. Review and Confirm your purchase– Before finalising your purchase, carefully review all the details. Make sure you’re comfortable with the EMI amount, the repayment tenure, and any applicable interest rates or additional charges.
7. Receive Approval from the finance provider– Once the finance provider verifies your information and everything checks out, your application will be approved. After that, your selected iPhone will either be shipped to your address or handed over at the store—ready for you to enjoy.

6 Benefits of Buying an iPhone on EMI without a Credit Card

Buying an iPhone on EMI without a credit card provides a plethora of advantages, below we have highlighted some of the benefits:

• No Credit Card Required
  You can access EMI plans without a credit card, making it easier for first-time buyers or those without a credit history.
• Flexible Payment Options
  Choose from a variety of repayment tenures that suit your budget—ranging from 3 months to 24 months or more according to your comfort.
• Minimal Documentation
  Most EMI providers only require basic KYC documents, making the approval process quick, easy and hassle-free without any problems.
• Instant Approval and Quick Processing
  Many lenders and retailers offer instant approval, allowing you to walk away with your new iPhone on the same day.
• No-Cost EMI Offers Available
  Some platforms and retailers provide zero-interest EMI plans, meaning you only pay the price of the phone—no extra charges which gives you extra comfort.
• Keeps Your Savings Intact
  Paying in instalments helps you avoid depleting your savings all at once, allowing better financial planning.

Conclusion

Owning an iPhone doesn’t have to be a financial burden or require a credit card. With multiple EMI options now accessible through debit cards, BNPL services, NBFCs, and EMI cards, you can pick the plan that best fits your financial situation. Just make sure to plan your repayments wisely and choose a trustworthy partner.

Frequently Asked Questions