{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.indusind.com\/iblogs\/manage-your-finance\/how-to-buy-a-mobile-phone-on-emi\/#BlogPosting","mainEntityOfPage":"https:\/\/www.indusind.com\/iblogs\/manage-your-finance\/how-to-buy-a-mobile-phone-on-emi\/","headline":"How to Buy a Mobile Phone on EMI","name":"How to Buy a Mobile Phone on EMI","description":"In today\u2019s day and age, mobile phones are nothing short of a necessity. From OTP-enabled logins to facilitating contactless payments, your mobile phone does it all. To enable a seamless experience, mobile phone technology is increasing in price and sophistication. While the latest smartphone might be tempting, its price tag can be daunting. This is...","datePublished":"2024-07-22","dateModified":"2024-07-22","author":{"@type":"Person","@id":"https:\/\/www.indusind.com\/iblogs\/author\/indusind\/#Person","name":"IndusInd Bank","url":"https:\/\/www.indusind.com\/iblogs\/author\/indusind\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/8169561f34fb61e737060f1a537a86e2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8169561f34fb61e737060f1a537a86e2?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"IndusInd","logo":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","width":201,"height":86}},"image":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/buy-mobile-phone.jpg","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/buy-mobile-phone.jpg","height":288,"width":764},"url":"https:\/\/www.indusind.com\/iblogs\/manage-your-finance\/how-to-buy-a-mobile-phone-on-emi\/","about":["Manage your Finance"],"wordCount":1221,"articleBody":"In today\u2019s day and age, mobile phones are nothing short of a necessity. From OTP-enabled logins to facilitating contactless payments, your mobile phone does it all. To enable a seamless experience, mobile phone technology is increasing in price and sophistication.While the latest smartphone might be tempting, its price tag can be daunting. This is where the concept of \u2018EMI\u2019 or \u2018Equated Monthly Instalments\u2019 comes into play. EMI allows you to spread the cost over time, making it more affordable and accessible. This article will guide you on how to buy a phone on EMI with a credit card and what to keep in mind during the process.How to Buy Mobile Phone on EMI with a Credit CardHere’s a simple process on how to buy your dream mobile phone on EMI:1. Choose Your Mobile PhoneStart by selecting the mobile phone you want to purchase. Make sure the retailer offers an EMI option, whether you are buying online or in-store. 2. Check EMI EligibilityEnsure that your credit card is eligible for EMI transactions. Most credit cards offer EMI options. You can check this by logging into your credit card account online or contacting customer service.3. Select EMI Option and TenureChoose the EMI option during payment when you are ready to buy the mobile phone. You will see various tenure options, such as 3, 6, 9, or 12 months. Choose a tenure as per your preferences.4. Understand the TermsGo through the terms and conditions associated with the EMI plan before you buy the mobile on EMI. This includes the interest, if applicable, processing fees, and the total amount payable. Some retailers and banks offer no-cost EMI. Here, you only pay the actual price of the product divided over the tenure without any interest.5. Complete the TransactionNow, complete the transaction using your credit card. The total amount will be converted into EMIs. The first instalment will reflect in your upcoming credit card statement.6. Monitor Your StatementKeep an eye on your credit card statements to ensure that payments are debited as agreed. Hope this blog has helped you understand how to buy a mobile phone on EMI with a credit card. However, it is crucial to remember some important points when going through the process. Also Read:  Benefits of a Credit Card \u2013 10 Reasons Why to Use a Credit CardWhat to Keep in Mind When Buying a Mobile Phone on EMIConsider the following points before you choose an EMI plan for your dream phone:1. Interest Rates and FeesCheck if the EMI plan comes with interest or processing fees. Review different offers and select the most cost-effective option.2. Tenure PeriodA short tenure means a higher monthly payment but lower overall interest. On the other hand, longer tenures spread out the payments, but result in higher interest costs. Hence, choose a tenure wisely.3. Impact on Credit LimitThe total purchase amount is blocked against your credit limit when you buy a mobile phone on EMI. Your available credit limit will be restored gradually as you pay off the EMIs. 4. Payment DisciplineEnsure you have the financial discipline to pay your credit card bill on time every month. Missing payments can lead to hefty interest charges and penalties. This can negate the benefits of the EMI plan. Missed payments can also harm your credit score. So, keep your credit score in mind, too. ConclusionKnowing how to buy a mobile phone on EMI with a credit card allows you to benefit from flexible payment options while enjoying your new device. Remember to consider various factors before choosing an EMI plan. IndusInd Bank offers various types of Credit Card options with EMI features to suit different financial needs. Whether you use the IndusInd Bank Platinum Card, the Legend Credit Card, the Nexxt Credit Card, or any other type, you can enjoy flexible EMI plans that make buying a mobile phone more affordable.Apply for a Credit Card with IndusInd Bank today!\u00a0Disclaimer:The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct\/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.Share This:"}