The Samsung Galaxy is one of the most successful phone series from the manufacturer. The phones launched under the series are known for their top-notch cameras, outstanding performance, and bright displays. Phone models like S22 Ultra, A53, and the foldable Z Fold 3 are a part of the series. However, their price tag may range from a few thousand to around a lakh, which does not fit into everyone’s budget easily. That is why many phone enthusiasts decide to buy their favorite Samsung mobile on EMI. They no longer need to take a loan or use their credit card to make their purchase.
Those having a bank account and a debit card can now purchase their favorite Galaxy phone on EMIs using their debit card. Let us see how it works.
How is it Possible to Buy on EMIs Using a Debit Card?
When a buyer decides to purchase a phone on EMIs using their debit card, their financier pays the phone’s cost upfront, and they repay the amount to the financier in equated monthly instalments. This way, the buyer gets their phone delivered to the doorstep after making a small down payment. The financier takes care of the remaining amount, and the buyer repays it in easy EMIs.
Selecting the Phone within the Budget
Choosing a phone after considering the budget is of the essence. Although purchasing a phone on EMIs increases the buyer’s affordability, they must avoid going over budget at any cost. After all, they need to repay the cost to the finance provider, and borrowing more than they can afford will disrupt their finances. Therefore, researching and selecting a feature-rich Galaxy phone within budget is imperative.
Selecting the Right Repayment Tenure
When a buyer purchases a Samsung mobile on EMI, they have to pay a small percentage of its price as a down payment. The remaining amount is divided into the number of months in the repayment tenure they select. The term length primarily impacts the EMI amount to pay each month. A longer tenure means smaller EMIs, and a shorter tenure means bigger EMIs. However, selecting a shorter tenure will help pay off the debt sooner and save money on the interest charges.
Therefore, the buyer must calculate their budget, consider their regular financial obligations, and choose a repayment tenure with EMIs they can afford comfortably.
Availing of the No-Cost EMI Option
No-cost EMI is a worthwhile arrangement that converts the phone’s cost into equated monthly installments without adding an extra penny. The seller gives a discount equivalent to the interest charges in a no-cost EMI scheme. As a result, the phone’s cost remains the same even after dividing it into EMIs. Eventually, the buyer ends up paying the phone’s actual price only in installments without any additional interest charges.
Buying a Samsung mobile on EMI brings expensive phones to customers easy access. It helps buyers keep their savings intact, pay a phone’s cost in EMIs suitable to their budget, and increases their affordability to buy a more expensive model. Now it is possible to buy phones on EMIs using debit cards and avail the no-cost EMI option to repay in EMIs without any extra charges