No Credit Cards required to Avail EMIs on Mobiles

So your favorite mobile phone brand just released their new flagship model and it has all the features you were looking for, but you don’t have enough money to buy it right away, neither do you want to get a Credit Card. Don’t worry, now you can buy mobile phones on EMI without a Credit Card.

Online shopping has really taken off in India and there are a number of online vendors that sell everything from groceries to household goods to all forms of electronics. One of the most purchased products online is the mobile phone, and online shopping sites have recognized this. They have also recognized that a very small percentage of people in India use Credit Cards and not being able to provide non-Credit Cardholders with an EMI option to buy mobile phones is restricting their sales greatly. To solve this problem a number of online and offline mobile phone stores partnered with various banks to provide non-Credit Cardholders with EMI payment plans.

There are a number of ways in which you can apply for EMIs on you next mobile phone without having to use a Credit Card. Let’s take a look at some of them.

Debit Card EMIs

Vendors like Flipkart and Amazon have partnered with HDFC Bank, Axis Bank, ICICI Bank, and SBI to allow select customers to avail EMI payment options on their Debit Card. A Debit Card EMI is pre-approved by the bank for certain customers. When you use the Debit Card EMI option while buying a mobile phone the bank pays the entire amount to the vendor immediately. After the payment is made to the vendor, the bank will open an overdraft facility against your bank account for the same and you will be required to pay this overdraft amount in EMIs. This allows you to spread you expensive over a longer period of time and does not put undue strain on your savings.

Instant Personal Loan App

Many Non-Banking Financial Companies (NBFCs) have developed platforms to provide customers with easy lines of credit. Companies like Zestmoney, Bajajfinserv, NIra Finance, EMI Baba, etc, have developed easy-to-use platforms to avail EMIs for mobile phones and other gadgets.

There are many advantages to buying a mobile phone on EMIs without a Credit Card, let’s take a look at some.

Minimal Documentation

Debit Card EMIs for mobile phones require no documentation, the details attached to your bank account are used for this type of payment option. When you use an Instant Personal Loan app the sign-up procedure is quick and quite seamless. You are not required to go to a physical bank outlet to apply for these loans and that saves you a lot of time. The documentation required to use an Instant Personal Loan app is minimal and all of it can be transmitted to the lender digitally.

Fast Disbursal

Mobile phones purchased with Debit Card EMIs can be bought immediately, without any paperwork or extra processes. If your card is eligible for this option and you choose to use it, the entire amount for the mobile phone is paid to the vendor immediately and the vendor will begin the delivery process once the payment is received. So you do not need to wait longer than usual while using Debit Card EMIs. With Instant Personal Loan apps once you complete the documentation process the loan amount disbursed to the vendor or to your account almost immediately.


Transactions on both Debit Card EMIs and Instant Personal Loan apps are protected by very complex security systems. These systems are being continuously updated and are almost impossible to breach. So when you use these modes of payments there is no need to be worried about catastrophic happening.


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