Mobile phones have become a necessary part of our daily lives. With advancements in technology, the prices of mobile phones have increased, making it difficult for people to afford them. However, buying a mobile phone through EMI (Equated Monthly Installment) is a cost-effective way to own a high-end phone without putting a strain on your budget.
In this comprehensive guide, we will take you through the steps to buy mobile phones on 36 months EMI. You can spread the cost of the phone over three years, making it affordable to purchase the latest model without breaking the bank.
The first step is to choose a reliable online store that offers EMI options. Many online stores like Amazon, Flipkart, and Paytm offer smartphones on EMI payment options. Look for a store that has a good reputation and offers reliable customer service.
Once you have chosen the store, you need to select the mobile phone you wish to purchase. EMI options are available on a wide range of phones, from budget phones to high-end models. You can also compare the features and prices of different brands to find the best deal.
After choosing the phone, select the EMI option and enter your personal and financial details. The online store may check your credit score before approving the EMI option. If your credit score is low, the EMI option may be denied or may require a higher down payment.
Make sure to read the terms and conditions carefully, including the interest rate, processing fee, and late payment charges. The EMI amount will be added to your monthly bills, and you will have to pay it for the next three years.
It’s important to note that buying a phone through EMI will increase the overall cost of the phone due to the added interest rate and processing fee. However, it is a convenient option for those who cannot afford to pay the price upfront.
In conclusion, buying a phone on EMI can be an excellent option for those who want to own a high-end phone without bearing the cost upfront. Choose a reliable online store, select the phone, and read the terms and conditions carefully before opting for EMI. By following these steps, you can buy a phone on 36 months EMI and make it affordable for yourself.
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