iPhone 12 Pro is one of the most satisfying iPhones ever. It is a dream phone for many owing to its gorgeous design, 5G support, three camera lenses, A14 Bionic ARM-based CPU, and Super Retina XDR screen. However, its high cost is a major setback for prospective buyers. Costing from Rs. 109,900 to Rs. 119,900, depending on the storage, it comes under the ‘expensive’ phone category that a commoner will find difficult to afford. That is why many people decide to buy it on EMIs using their credit cards. But what about those who want to buy an iPhone on EMIs but do not have a credit card? Such buyers may use the power of their debit card to make their purchase on EMIs.
Wondering how to buy an iPhone on EMI without credit card? Here is a guide to help.
How does iPhone on EMIs Using Debit Card Works?
These days, many sellers allow buyers to purchase their iPhones using their debit cards. However, the buyer does not need to pay the phone\'s entire cost from their bank account. A financier pays the phone\'s price on the buyer\'s behalf and divides the amount into equated monthly instalments. According to their monthly budget, the buyer repays the phone\'s cost to the financier in EMIs.
Buying an expensive phone on EMIs using a debit card saves users from shelling out lump sum money from their savings. Therefore, the buyers get their hands on their favourite iPhones without touching their savings. They just need to make a small down payment to initiate the purchase, and the financier takes care of the remaining amount.
Since most finance companies are flexible with the repayment, buyers can select a tenor with EMIs suitable to their budget. If they choose a longer tenure, their EMIs remain smaller and easily manageable. However, they may end up paying a higher interest outgo for a longer term. Therefore, choosing a shorter tenure saves money on the interest charges and makes the buyer debt-free sooner.
Benefits of Buying an iPhone on EMI without Credit Card
Expensive Phone Within Reach: iPhone 12 Pro is an expensive phone that most buyers find out of reach. While many people do not have a credit card, almost everyone has a bank account and a debit card. Therefore, buying on EMIs without a credit card makes it accessible for them.
No-Cost EMI Option: Credit cards allow buying phones on EMIs, but they charge hefty interest charges that most buyers want to avoid. On the contrary, purchasing an iPhone using a debit card comes with a no-cost EMI option. The buyer pays the phone\'s total cost only in instalments without any interest charges with this option.
Flexible Repayment: Credit card interest charges keep accumulating, and the debt burden keeps getting heavier until the buyer pays off the EMIs. However, buying a phone using a debit card gives repayment flexibility as suitable to the buyer\'s monthly budget.
The debit card option makes it possible for Apple lovers to buy an iPhone on EMI without credit card. Non-credit card users can use their debit card to buy an iPhone 12 Pro on EMIs and pay its cost in easy installments without hefty credit card interest charges.
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