The Pros of Buying an iPhone on EMI
1. Easy on the Pocket: The primary advantage of buying an iPhone on EMI is the financial ease it offers. It enables you to possess the coveted device without having to shell out the entire amount upfront. Instead, you can spread the cost over a specific tenure and pay smaller, manageable amounts each month.
2. Flexible Tenure: Opting for an EMI gives you the flexibility to choose tenure ranging from 3 months to 24 months. Depending on your financial capability, you can adjust the period of repayment.
3. No-Interest EMI: Certain financial institutions offer a 'No Cost EMI' option where the interest charged is effectively given as an upfront discount.
4. Benefits of Credit Cards: Buying an iPhone on EMI also offers multiple benefits that come with credit cards. These can be in the form of reward points, cashback, discounts, or other special offers.
One of the beneficial credit options to purchase an iPhone on EMI is using the Bajaj Finserv Insta EMI Card. It offers pre-approved loans of up to Rs. 4 lakh with instant approval. The card also offers flexible repayment tenures, attractive offers, zero foreclosure charges, and a simple online application process to deliver a hassle-free smartphone purchase experience.
The Cons of Buying an iPhone on EMI
1. High Total Cost: Despite the initial attractiveness of smaller amounts, the overall cost of the smartphone can rise since interest is usually charged on the EMI.
2. Possibility of Overspending: The ease of purchasing on EMI can sometimes lead to overshooting your budget, negatively impacting your financial health.
3. Impacts Credit Score: Defaulting on EMI payments can adversely affect your credit score. Thus, before committing to an EMI plan, ensure your financial stability.
Bajaj Finserv’s Insta EMI Card application process is straightforward, both online and offline. For online application, log on to the official website or download the Bajaj Finserv Wallet app. Register or log in to your account, click on the ‘EMI Card’ option, and follow the application steps.
For the offline process, you need to visit your nearest Bajaj Finserv branch, submit the necessary documents - such as your PAN card, KYC documents, a cancelled cheque, and an ECS mandate, and apply for the Insta EMI Card.
Shopping with the Bajaj Finserv Insta EMI Card is easy, whether online or offline.
For offline, you need to visit any of the 84,200+ Bajaj Finserv partner stores, select the product you want to purchase, and convert your bill into easy EMIs. For online purchases, select ‘Bajaj Finserv EMI’ as your payment option on any of its many partner websites. Then, select the convenient EMI tenure and complete the transaction.
In conclusion, buying an iPhone on EMI using the Bajaj Finserv Insta EMI Card allows you to enjoy all of the smartphone’s high-end features without feeling the financial pinch. However, bear in mind the cons, and ensure that you’maintain discipline in repayment to not negatively affect your credit score. Always be sure to provide for the EMIs in your regular monthly budget. With careful planning, your dream iPhone will be in your hands before you know it.