Advantages of Buying a Mobile Phone on EMI

Can you imagine doing your day-to-day activities without a smartphone in today’s fast-paced world? The answer is most likely to be ‘no’. These days, owning a smartphone is not a luxury, it has become a necessity. It simplifies most of our tasks, be it connecting with friends and family, consuming content for entertainment, shopping for clothes and groceries, or completing official assignments.

However, with new products and feature updates being launched almost every day, it can be difficult to keep up with the latest technology. New smartphones with the latest upgrades come with a hefty price tag, but this does not have to keep you from upgrading your mobile phone.

A smart solution to easily purchase a new smartphone is to opt for EMIs using your credit/debit card or through mobile loans. Let’s understand how purchasing a smartphone on EMI can be beneficial for you.

What are the Advantages of Purchasing a Smartphone on EMI?

Buying a smartphone on EMI instead of paying the entire amount upfront has many advantages. Some of these are:

  • Easy on your pocket:

    Today, a good smartphone can cost anywhere between ₹20,000 to ₹1,00,000, or more! Paying this whole amount upfront can make a huge dent in your monthly budget, affecting your other commitments and contingency needs. On the other hand, when you opt to pay for your new phone on EMI, you can pay the amount in small instalments over a while.

  • Afford a premium smartphone:

    We often avoid purchasing a flagship or premium smartphone because we cannot afford to pay the entire amount upfront. As a result, we tend to purchase lower-end models that may not have all the features that we wish to have on our phones. Opting to purchase a mobile on EMI can help you purchase a premium mobile phone easily as you do not need to pay the full amount in one go.

  • No additional costs:

    These days, many banks and financial institutions offer finance for mobile phones without any additional interest cost. You can opt for such no-cost EMIs to purchase your new phone and get the phone without paying any interest.

How to Buy a Mobile Phone on EMI?


You can buy a new mobile phone on EMI either by using your debit or credit card or by applying for a loan for your mobile phone.

  • Debit/Credit Card EMIs

    Leading banks and financial institutions now offer their cardholders to pay for their new mobile phone purchases using EMIs on credit or debit cards. You can opt for this option to buy your new smartphone via EMIs with your preferred duration.

    How can you buy a mobile phone on EMI with a debit or credit card?

    1. Firstly, check with your bank if you are eligible to opt for the debit/credit card EMI.

    2. If yes, then choose the credit/debit card EMI option while making the payment for the mobile phone.

    3. Next, select your bank and enter your card details.

    4. Choose your debit/credit card EMI tenure and pay for the smartphone in easy EMIs.

  • Online Mobile Loans

    A mobile loan is a type of personal loan that is offered by institutions like CASHe to easily purchase your desired smartphone at affordable EMIs. You can avail these mobile phone loans online without the hassle of any paperwork. Another advantage of mobile loans is that they are unsecured in nature, giving you the freedom to avail a loan without pledging any security or collateral.

    How can you apply for a mobile loan on CASHe?

    You can apply for a mobile loan on CASHe by following these easy steps:

    1. Download the CASHe mobile app and create your account.

    2. Provide the necessary details and complete the KYC process.

    3. Click on the ‘Get Loan’ option and choose ‘Mobile Loan’ from the dropdown menu.

    4. Determine your mobile loan amount and loan tenure. Here, you can avail a mobile loan with a tenure of 90, 180, 270, 360, and 540 days with loan amounts ranging from ₹15,000 to ₹4,00,000.

    5. Wait for CASHe to verify and approve your mobile loan application.

    6. Once approved, CASHe will disburse your mobile loan amount instantly to your bank account.