If there is one smartphone that has a cult following and never goes out of trend, then it's undoubtedly, the ever-popular iPhone. Every time a new iPhone hits the market, both fans and speculators go crazy over the features, style, and charisma of the brand and its models. 

If there is one criticism about the iPhone, then it's this – it's outrageously expensive. If you have always put off purchasing an iPhone because it's way out of your budget or you don’t hold a credit card to buy it on EMI, then this guide is for you.  

We’ll go through the options of how you can purchase an iPhone on EMI without a credit card. 

Understanding How to Buy an iPhone on EMI Without a Credit Card 

The Challenge 

Purchasing an iPhone can be a significant expense. Traditionally, credit cards have been the preferred method for making large purchases on EMI (Equated Monthly Installments). However, not everyone possesses a credit card or prefers to use one. 

Alternative Options 

Thankfully, several financial institutions and platforms have stepped in to offer EMI options without requiring a credit card. Let's delve into each option: 

1. Bajaj Finserv Insta EMI Card 

  • What it is: A prepaid card that functions like a credit card for EMI purchases. 

  • How it works: You apply for an Insta EMI card at a partner store. Once approved, you can use it to purchase the iPhone on EMI. 

  • Pros: No credit history required, easy application process. 

  • Cons: Might have a limited spending limit initially. 

2. ZestMoney 

  • What it is: A digital lending platform that provides instant credit. 

  • How it works: Create a ZestMoney account and get a credit limit. Use this credit to purchase the iPhone on EMI at partner stores. 

  • Pros: No credit card needed, flexible repayment options, available at multiple online stores. 

  • Cons: Compared to other options, interest rates here could be steeper. 

3. Finnable 

  • What it is: A personal loan platform specifically for large purchases. 

  • How it works: Apply for a personal loan through Finnable to cover the iPhone cost. Repay the loan in EMIs. 

  • Pros: Suitable for larger purchases, flexible repayment terms. 

  • Cons: Interest rates and processing fees might apply. 

4. No-Cost EMI Options 

  • What it is: EMI plans offered by retailers or banks without charging additional interest. 

  • How it works: Available at select stores and for specific products. Check with the retailer or bank for eligibility. 

  • Pros: No extra charges, budget-friendly. 

  • Cons: Limited availability, might have other terms and conditions. 

5. Debit Card EMI 

  • What it is: Enjoy flexible payment options with debit card EMI schemes. 

  • How it works: Check with your bank if they offer debit card EMI and the eligibility criteria. 

  • Pros: Convenient if you have a debit card. 

  • Cons: Not all banks offer this service, interest rates might apply. 

6. Amazon Pay Later 

  • What it is: A digital credit line offered by Amazon that allows users to make purchases and repay them in instalments. 

  • How it works: Create an Amazon Pay Later account and get a pre-approved credit limit. Use the available credit to purchase products on Amazon. Choose a repayment tenure (EMI) that suits your budget. 

  • Pros: Instant credit approval for eligible customers and flexible repayment options. 

  • Cons: Interest charges might apply for EMI options and the credit limit might be lower initially. 

Important Considerations 

  • Eligibility: Each option has its own eligibility criteria. Check the requirements before applying. 

  • Interest Rates: Compare interest rates across different options to choose the most cost-effective one. 

  • Repayment Terms: Understand the repayment tenure and EMI amount to avoid financial strain. 

  • Partner Stores: Ensure the store where you plan to buy the iPhone accepts your chosen EMI option. 

Disclaimer: All the options and other information specified above are sourced when this page was written and are subject to change. For exact information, refer to the respective platform’s website or contact them. 

Additional Tips 

  • Compare prices and offers across different platforms. 

  • Read customer reviews and testimonials about the EMI options. 

  • Please have all essential documents on hand for the application process. 

Benefits of Buying an iPhone on EMI Without Credit Card 

Buying an iPhone on EMI without credit card provides a plethora of advantages: 

  • You can afford an iPhone easily. Paying in instalments allows for easier budgeting. 

  • Poonawalla Fincorp offers loans up to ₹5 Lakh. This covers the cost of most iPhones. 

  • You only need a few documents. Providing your PAN card, Aadhar card, and address proof is enough. 

  • The loan process is quick and easy. Digital applications have made it fast. 

  • You can choose a repayment period. Poonawalla Fincorp lets you repay the loan in 12 to 36 months. 

Frequently Asked Questions 

1. Can I pay for iPhone in instalments? 

Yes, you can enjoy the flexibility of buying an iPhone in instalments through EMI using various methods. 

2. What is the EMI option for the iPhone? 

EMI is a financing option that allows you to pay for an iPhone in fixed monthly amounts. 

3. Can we buy an iPhone without a credit card? 

Yes, you can buy an iPhone without a credit card using options like Bajaj Finserv Insta EMI card, ZestMoney, or debit card EMI. 

4. How do I know if my selected iPhone is available for purchase on EMI?  

Check the retailer's website or contact their customer support to verify EMI availability for your chosen iPhone. 

5. How can I buy an iPhone with a monthly payment? 

You can buy an iPhone with monthly payments by opting for EMI at the time of purchase through your credit card, debit card, or other financing options. 

 

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.