Smartphones have become an integral part of human life, almost an extension of the being. People use their smartphones for a lot more than just staying connected these days, you can check your emails, read the news, network with new people online, play graphic-intensive games and meet new people and lots more. For this reason, smartphones are getting faster and more efficient every day.
Buying the latest smartphone can be quite a big monetary decision because with the improving technology offered in these phones the prices of them are going up as well. This purchase doesn’t need to be stressful these days though, because now you can use your Debit Card to make payments via EMI, this allows you to buy your favorite smartphone with EMI. Debit Card EMIs are available on Flipkart, Amazon etc. It is simple to avail and carry no interest, these are just a couple of reasons to use this mode of payment. Let’s look at some of the other good reasons to use your Debit Card for EMI payments.
Easy to Avail
These days availing an EMI as a payment method has become very popular. Unlike a few years ago, these days you don’t even need a Credit Card to avail an EMI on most shopping portals. You can now provide your Debit Card details and avail an EMI in no time. So the next time you see a phone you like and don’t want to take on additional credit to buy it, consider reaching for your Debit Card and make EMI payments for it.
Transparency
EMIs are one of the most transparent payment methods available. As everything associated with an EMI is attached to your bank account any additional deductions or fraudulent transactions can be caught by you instantly. EMIs also carry no additional charges or hidden charges under normal circumstances and all your payments are predetermined.
Repayment Options
EMIs come with a number of repayment options to make your entire experience hassle-free. EMIs also come with an auto-debit function, this allows the EMIs to be deducted directly from your bank account on a pre-determined day, allowing you to stay up-to-date on all your EMIs and preventing any additional charges of penalties for late payment.
Reduced Financial Burden
Purchasing an expensive new smartphone outright may not be the best option for a lot of people, as this can put a lot of pressure on your savings in one shot, savings that you might need in case of an emergency. This is where EMIs make a lot of sense, the fact that you can purchase that phone you want with deferred payments, and still have a substantial amount for a rainy day in your bank account is a great advantage. The regular EMIs also help you budget your spending and develop healthy financial habits.
No Additional Debt
Most people do not like taking on debt if they can help it. Debit Card EMIs are perfect to buy a smartphone with deferred payments, without taking on any additional debt. Unlike regular EMIs, Debit Card EMIs are more like deferred payments for your purchase, as the payments are being made from your savings account and since you are making the purchase from your existing funds you are not liable to pay interest.
So the next time you think of taking an EMI to buy a new phone, consider Debit Card EMI, they can save you a lot of time and money.