The tiny luxuries of everyday living matter a lot—it will make your life easier and more pleasant in whatever little way! You might have an eye fixed on the latest and smartest smartphones available and it's likely you have set your heart on a certain model but you do not have ready cash to buy it. Or perhaps you're seeking to upgrade your current smartphone but don't know quite ways as to how to get mobile finance so as to cover the cost? You may simply go for a 0 interest consumer durable loan because now it is possible to buy your desired phones on loan at 0 interest.
What is a 0 percent Interest Mobile Finance?
This type of loan essentially lets you purchase your desired mobile phones without paying any interest charges. There are some of the NBFCs that offer mobile phones at 0 interest.
You don’t have to pay any interest on your purchase and the loan amount chosen for such 0 percent loans for mobile phones in installments. To calculate your monthly EMI, you need to just divide the total amount of purchase with the loan tenure you have chosen. You can then adjust the tenure according to your financial needs.
How to decide if the scheme is actually 0 percent?
It is always better to be a little straightforward and ask some basic questions to find out if the 0 percent schemes are actually 0 percent. Find out if you are eligible for any discount if you pay the full amount right at the time of purchase and if there are any transaction charges for the finance scheme. If the answer is no for both the questions then you might consider yourself fortunate that the 0 percent schemes are in real- 0 percent.
How do 0 percent Interest Mobile Finance Work?
You might ask—what would be the benefit to the bank/lender if they give loan at 0 percent interest? Well, here is the fact—it is the seller/manufacturer of the mobile phone that takes the responsibility of the interest payment to the loan provider. The merchant now has the opportunity to market and sell the product and get more customer footfalls, while the consumer gets his product at 0 percent interest. It is a win-win situation for both the buyer and the seller.
General Features and Benefits Of 0 percent Interest Mobile Finance
• Instant approval
• Requires Minimal documentation
• 0 percent Interest and low down payments
• Easy repayment options and flexible tenures
• Quick processing and usually no hidden charges
• No security deposit required
Eligibility for Mobile Finance:
Generally, the basic eligibility criteria for buying mobile on EMI or finance your mobile is that you must be an Indian national of minimum 19 years of age as on the date of loan application. The buyer should be a salaried professional/ have a business income or should be drawing a pension. You should hold at least two valid documents to prove your identity and current address.
Documents required:
Some of the very reputed companies are now providing 0 interest mobile loans with just two important documents. The first required document is the Aadhar card and another one is Pan Card. Just submit the required documents and get approved the loan for your mobile within a minute.
So, go ahead and fulfill your dream of owning a high-end smartphone, with 0 interest EMI as, now you can..!
Now do not compromise with your dreams, Just choose any mobile with your choice and buy it with 0 percent EMI free smartphone loan provided by different finance companies in the market.
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