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Every product that you find online can be purchased via EMI payment. You don’t need to pay everything in full at one go. You can make payments on a regular basis through EMI. So, shopping on EMI is pretty much hassle free, right? Yes, if you stop using that credit card.
Credit cards mean that your interest rates will go high and it would go higher and higher with every purchase. If you are getting something with the help of EMI, then a wise decision should be to keep the interest rates low.
Well, this does make sense and that’s people are opting for payment options like emi without credit card. Whether you are planning to buy a refrigerator, a T.V. or even a smartphone on emi without credit card, seek reputed places online as well as offline in retail stores as such.
Does Credit Card Usage Really Spike Up The Expenses?
Yes, this is true. Credit card usage can increase your expenditure. So, you can access EMI option of payment even without the help of credit cards and this in turn will ease the financial burden. However, in some places they require more authentication and therefore they seek to provide you emi on aadhar card as well.
It might sound strange, but such places do exist where people check the nationality and also other verifications before making sure that the person is capable enough to pay regular instalments.
So, let’s find out ‘how to buy EMI without credit card or even the debit card’.
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Firstly, you need to select the product and add it to the cart. For example, if you are purchasing a mobile phone, then add the product to the cart.
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Secondly, you need to place the order now! Fill up the details and don’t forget to select the finance option to place your order. This will redirect you to the financier’s website.
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Here comes the EMI Application Form. This is the third step. In the application form, you fill up the details of your PAN card, AADHAR card and also the bank details. No need to fret about it, as the information you provide will be 100% safe and secure.
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The fourth step would be to upload the scanned PAN card, AADHAR card and also your bank statement documents in PDF format. The bank statement should show the last 3 month transactions and also your income transactions need to be there.
This is just for a verification that you would be able to pay the monthly EMI. Remember the documents you submit would be safe and secure and will not be used in any way. So, be rest assured with that.
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The last step – The product reaches you! Pre-approvals are given almost instantly and without delay. This is a tech-savvy world and there are no delays as such. The verification of the documents might take more or less 24-48 hours. When the loan gets approved, the product reaches you instantly and the maximum time taken would be just 3 to 4 days.
Yes, it’s that easy. No credit card and no debit card required. You get your products without the hassle.
Why This Scheme Came In?
There are plenty of consumers who complain that they cannot purchase products on EMI due to lack of credit cards. This problem was completely removed as anyone can purchase anything in the market and that too without credit cards.
The dependency on credit cards gets reduced which is a big relief to the consumers and even the expenses are much less.
Know About Card-less EMIs
There are a lot of benefits if you are looking for card-less EMI. Want to check out, then read on and get enlightened. If you have a payment option or if any particular merchant website have any kind of payment option, then it can just be a matter of minutes and you will be shopping and making yourself happy.
The key benefits of such online transaction without credit card but with the EMI facility is something that is notably awesome. Here are just a few things that one needs to know:
You Get An Instant Approval As you Check-out
Just because you don’t have a credit card, no one is going to stop you. One can do the shopping online and purchase whatever they like and fancy. Just make sure you fill up the EMI application form without any issues and you will surely get the approval during the time of check-out.
Repayment Process is Simple – Zero Penalty
The EMI is absolutely flexible and you don’t need to stress thinking that there might be a catch. There is no hidden agenda at all. Flexible EMI – 2 to 12 months and you can channelize the payment process that will suit your pocket. If you repay early, then there is zero penalty and it certainly won’t worry much.
This card-less EMI policy was started by Xiaomi India and it has been very successful. The affordable solution has benefitted numerous Indians and is here to stay!
