How to Buy Mobile on Flexible Repayment Option
With so many technological advancements and attractive models of smartphones emerging in the Indian market, it is natural for you to want one for yourself. And the best part? You don’t have to wait for Diwali bonuses to get the smartphone you’ve had your eyes on for a long time. All thanks to the emergence of mobile loans, which have grown tremendously popular in the last few years due to the rise of modern NBFCs like Clix Capital. Such NBFCs offer various flexible repayment options to the vast masses to have the phone of their dreams.
Here are a few benefits of buying smartphones on EMI:
1. Flexibility: One of the best parts about availing EMI mobile phone is the flexibility it offers. The high end smartphones that once seemed inaccessible are not availed easily by consumers when they buy phone on EMI. Furthermore, one has the flexibility to grab a phone a bit higher on their financial capability with EMI so they get access to better technology, features, and in turn are more useful.
2. Quick Approvals: Many finance companies have their representatives at mobile stores. So, by checking a borrower’s credit history online, they are able to gauge whether to avail them the loan or not. Therefore, one can purchase their favourite smartphone within 30 minutes of being in the store. Now that’s quick!
3. Minimum documentation required:Unlike other loans like home loans and vehicle loans, mobile loans require very few documentation. Most financial institution will just require your identity proof, PAN card, address proof, and salary slip, if you are working as an employee somewhere. If one is self employed, tax returns of last 6 to 12 months may be required.
4. No foreclosure charges: Majority of the financial institutions won’t charge the borrowers for early foreclosures. Therefore, if the borrower has some extra cash available, then they can prematurely without incurring any sort of penalty.
5. Time Flexibility: Now here is the major advantage of buying a mobile on EMI: it is tha wide time flexibility options that one has while repayment procedure is going on. Most financial institutes provide the option to pay the EMI in as long as 24 months.
In today’s day and age, it has become quite convenient to avail the latest technological products - all thanks to the EMI plans offered by majority of banks and Non Banking Financial Companies (NBFCs). Wondering how to buy phone on EMI? Clix Capital, a modern day digital lender has got you. It provides hassle-free mobile loans that are easily approved, require minimum documentation, have great repayment plans, and many other advantages.