Standing in this era of 2019, EMI is a widely used phenomenon where the generation believes in investing in installments rather than taking the pressure of a bulk amount. One must be familiar with the fact that buying a product on EMI without a credit card generally requires a credit card, but it is possible now to buy a Laptop, Mobile or TV on EMI without a credit card.
Linking EMI with ID proofs and bank
Regarding online transactions, you can choose to have an EMI with your ID proofs such as Aadhar card or PAN card along with your bank details linked with the deal.
This facility is specially designed for the customer class, which holds students as its part. Some websites allow you the platform for Cardless EMI where the customer has his/her flexibility in choosing duration to pay, which may range from 2-12 months.
Generally, for this facility, you need to shop with the online stores which are partners with the particular platform providing you with the facility of EMI without a credit card. All you need to do while you check out, you need to choose an EMI without credit card option. Then you will have signup and choose a down-payment option, after completing this you need to submit your application.
Your application gets instant approval after which you need to make a small down-payment and upload the relevant documents. Your product is shipped, and you can pay your EMI’s according to your chosen duration.
Just like a credit card, nowadays EMI Card is also a popular product. Using this card, you cannot withdraw money. Instead, you can use it for durable loans which come in the form of No-Cost EMI. As there is no requirement to pay interest on the amount used to buy, this becomes a more preferable mode of transactions than reasonable EMI options.
There is a pre-approved amount available in the EMI without a credit card which can be used for the operation. Some firms come with this facility of EMI card, so you can approach the same to get yours and invest in No-Cost EMI to buy the products you wish for.
Apart from this, few favorite online stores are now allowing EMI options on debit cards, which make it easier to buy your desired electronic product.
Now all you need to do is to choose the best product of your choice, which fits your taste and requirement. Then select the right option to go with for using the EMI facility to buy. There are multiple methods available, and you need to choose the one that will let you pay the withstanding amount