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No Credit Card - How can I buy iPhone 12 Pro on EMI

No Credit Card - How can I buy iPhone 12 Pro on EMI

Time and again, Apple Inc. keeps introducing newer and better versions of the iPhone. Undoubtedly, iPhone is a splendid smartphone with amazing features and picture quality like no other. However, over the years, owning an iPhone has become a status quo for many. So, whether the precious gadget is affordable or not, people want to own it.

iPhone 12 Pro is the latest launch from Apple, it is available at a high price of Rs.1,19,000 in India. Credit card users with a higher usage limit can easily buy iPhone 12 Pro. There are also cashback offers and discounts available on selected credit cards. But, what about those buyers who have no credit card and still wish to buy iPhone 12 Pro?

Non-credit card users can take a Consumer Durable loan or a Mobile loan to buy iPhone 12 Pro on an EMI basis. A consumer durable loan is a type of unsecured personal loan available for buying electrical gadgets and home appliances. Being an unsecured loan, it can be procured online through instant loan apps and can be disbursed within 24 hours.

The other way to get iPhone 12 Pro without a credit card is through buying a product personally through major electronic stores like Croma, Aptronix, Reliance Digital etc. The loan procedure is executed as you buy the product. The interest rate and EMIs are explained thoroughly by the sales executives, accordingly buyers can decide to clear the EMIs in 6 months or 9 months of tenure, based on their repayment capacity.

Features and Benefits of Mobile Loan

A mobile loan is an unsecured personal loan that gets sanctioned within 24 hours or during the product purchase. Here are the features of the mobile loan that borrowers can benefit from:
 
  • Minimum documentation- When applying for a mobile loan, no physical documents are involved. Documents or document details such as Aadhar Card number are required to be submitted online in a paperless format.
 
  • Instant approval- Mobile loans on the spot approval makes it distinct to indulge in gadget shopping anywhere, anytime, without worrying about the monetary issues.
 
  • Easy EMIs- Since there is no obligation to make the entire payment upfront, you can invest in a smartphone of a higher range by paying easy monthly EMIs.     
 
  • Promotional Deals- During festivals or new product launch, there are great deals and discount offers on mobile phones that is often linked to mobile loans for best buys.
 
Eligibility Criteria and Documents for Mobile Loan

Every financial procedure involves an eligibility criterion, accompanied by a set of mandatory documents to go further:
 
  • Filled and signed loan application form. Electronic signature if submitted online.
  • KYC documents -Aadhar Card/PAN Card/Smart Card Driving License/Passport
  • You should be acitizen of India
  • You should be either a salaried or self-employed individual
  • Your minimum monthly income should meet the criteria fixed by the lender
  • You should be at least 21-58 years of age
  • Your credit history should meet the criteria set by the lender
So, yes, it is possible for iPhone addicts to buy the latest version of the iPhone without credit cards also. Ensure your credit history is good enough for easy loan approval.
 
 
 

Accepted Banks:

ICICI BANK LTD HDFC BANK LTD AXIS BANK IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK

EQUITAS SMALL FINANCE BANK LTD KOTAK MAHINDRA BANK LTD IDFC FIRST BANK LTD UJJIVAN SMALL FINANCE BANK LTD BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK RBL BANK LTD BANK OF MAHARASHTRA DEUTSCHE BANK AG PAYTM PAYMENTS BANK LTD CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD AU SMALL FINANCE BANK LTD CITI BANK BANDHAN BANK DHANALAXMI BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK JANA SMALL FINANCE BANK LTD UCO BANK

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