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How to get a Mobile Phone Loan Online easily?

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With the booming rise and growth in the world of technology and the internet, people are opting for easier modes of payment for everything they buy – either online or even offline.

All that aside, mobile phones have become a very important part of our day to day lives, from making calls to making payments, everything right under our fingertips. With the constant rise of e-commerce business, people prefer buying these devices on online platforms rather than opting for the offline stores.

If you have been looking for ways to get your hands on the newly launched MoneyTap’s mobile on EMI service. They offer 100% digital finance for smartphones (in fact for any purchase above Rs. 3000) where customers have instant access to credit line 24×7 anytime, anywhere via the MoneyTap instant loan app.


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Choose the Device:

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You can’t just up and buy a random mobile phone on EMI online. It is quite important to do an extensive research first and select the phone with the best specifications, latest operating system and even the best RAM and internal storage.

Choose one that aligns to the kind of budget you can afford and move forward accordingly. It is extensively important to look for multiple device reviews and get the one with the best reviews because you don’t want to end up in regret.

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Choose the EMI Plan:

Once you have chosen the mobile phone that you want to buy, the next thing you need to do is select the EMI option that seems to work best for you.

While the least paying EMIs tend to have an easy impact on your monthly account every single month, the same will end up eating the maximum amount of interest which is why it is best to avoid the least paying EMI and opt for the ones that will end in a few months and maximum, a year.

Making it easy:

Let us see the breakdown for ourselves, shall we?

Take iPhone X for example. The price of the phone in India is INR 74,999 on Amazon India.

Calculating the interest based on 13% per annum, the interest price against the phone is INR 9,749.87.

The total amount then comes down to INR 74,999+ INR 9,749.87 = INR 84,748.87 and with the EMI plan that’s just around INR 7,000~ a month.

These easy steps can actually help you plan out your process of buying a mobile phone online without any kind of added hassle.

If you are considering buying a mobile phone on EMI, consider MoneyTap for the process.

The website is known for providing instant approval and that too for a very lowered rate of interest which you won’t get anywhere else.

They also have flexible EMI options which can help you choose the best one according to the plans best suited for your budget.

Checkout:

Once the EMI plan is decided, the last thing you need to do is a place your order successfully and for that, you need to place your mobile phone in the cart and go to checkout.

There, enter the address and select the mode of payment, punch in your bank account details for the EMI and the rest is sorted.

The only thing to ensure is that the website requires valid identification proof to ensure the authenticity of the process.

Read More:

  1. How to Buy a Mobile Phone
  2. Best Android Phones – Price & Specs
  3. Buy Original mobile phones avoid fakes – tips
Paschal Okafor is NaijaTechGuide Team Lead. The article How to get a Mobile Phone Loan Online easily? was written by Manoar Molla. The article was last modified: November 6th, 2018
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