No Credit Card - How can I buy iPhone 12 Pro on EMI

Time and again, Apple Inc. keeps introducing newer and better versions of the iPhone. Undoubtedly, iPhone is a splendid smartphone with amazing features and picture quality like no other. However, over the years, owning an iPhone has become a status quo for many. So, whether the precious gadget is affordable or not, people want to own it.

iPhone 12 Pro is the latest launch from Apple, it is available at a high price of Rs.1,19,000 in India. Credit card users with a higher usage limit can easily buy iPhone 12 Pro. There are also cashback offers and discounts available on selected credit cards. But, what about those buyers who have no credit card and still wish to buy iPhone 12 Pro?

Non-credit card users can take a Consumer Durable loan or a Mobile loan to buy iPhone 12 Pro on an EMI basis. A consumer durable loan is a type of unsecured personal loan available for buying electrical gadgets and home appliances. Being an unsecured loan, it can be procured online through instant loan apps and can be disbursed within 24 hours.

The other way to get an iPhone 12 Pro without a credit card is by purchasing it personally through major electronic stores like Croma, Aptronix, Reliance Digital, etc. The loan procedure is executed as you buy the product. If you are still wondering about iPhone vs Android which one is better, the in-store staff can also guide you based on features and pricing. The interest rate and EMIs are explained thoroughly by the sales executives, and buyers can then decide to clear the EMIs in 6 months or 9 months of tenure, based on their repayment capacity.

Features and Benefits of Mobile Loan

A mobile loan is an unsecured personal loan that gets sanctioned within 24 hours or during the product purchase. Here are the features of the mobile loan that borrowers can benefit from:
 

• Minimum documentation- When applying for a mobile loan, no physical documents are involved. Documents or document details such as Aadhar Card number are required to be submitted online in a paperless format.

• Instant approval- Mobile loans on the spot approval makes it distinct to indulge in gadget shopping anywhere, anytime, without worrying about the monetary issues.

• Easy EMIs- Since there is no obligation to make the entire payment upfront, you can invest in a smartphone of a higher range by paying easy monthly EMIs.     

• Promotional Deals- During festivals or new product launch, there are great deals and discount offers on mobile phones that is often linked to mobile loans for best buys.

 
Eligibility Criteria and Documents for Mobile Loan

Every financial procedure involves an eligibility criterion, accompanied by a set of mandatory documents to go further:
 

• Filled and signed loan application form. Electronic signature if submitted online.
• KYC documents -Aadhar Card/PAN Card/Smart Card Driving License/Passport
• You should be acitizen of India
• You should be either a salaried or self-employed individual
• Your minimum monthly income should meet the criteria fixed by the lender
• You should be at least 21-58 years of age
• Your credit history should meet the criteria set by the lender

So, yes, it is possible for iPhone addicts to buy the latest version of the iPhone without credit cards also. Ensure your credit history is good enough for easy loan approval.