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How to Buy an iPhone on EMI Using a Debit Card? 4 Easy Steps

How to Buy an iPhone on EMI Using a Debit Card?

Last updated on May 14th, 2023 at 02:06 pm


How to Buy an iPhone on EMI Using a Debit Card? Have you ever wondered if you could use your debit card to make a down payment on an iPhone? In fact, you can! You might, however, inquire, "How can I do this?" and "What is EMI?" Let's explore the world of EMI to find the answers to these questions.

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How to Buy an iPhone on EMI Using a Debit Card?-Understanding EMI

What is EMI?

Equated Monthly Installment, or EMI, is a set monthly payment paid by a borrower to a lender on a specific date. It resembles dividing a substantial payment into several smaller, more manageable payments.

How does EMI function?

The total cost of a product is divided by the number of months in the EMI tenure when you purchase it on EMI. In this manner, you can pay little by little over time as opposed to a big upfront payment.

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The Process of Buying an iPhone on EMI with a Debit Card

How to Buy an iPhone on EMI Using a Debit Card?

Prerequisites (How to Buy an iPhone on EMI Using a Debit Card?)


You must confirm that you are qualified for the EMI programme before purchasing an iPhone using a debit card. The requirements for eligibility may change, but generally speaking, you must have a working bank account and a solid credit history.

Documents are necessary

Typically, you must present proof of identification and your address. Additionally, banks may want proof of income.

Steps to Buy an iPhone on EMI with a Debit Card

    1. Visit your bank's website or mobile app.
    2. Look for the EMI option.
    3. Choose the product (in this case, iPhone) and select the EMI option.
    4. Complete the transaction.

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Choosing the Right EMI Plan for You

How to Buy an iPhone on EMI Using a Debit Card?

Factors to Consider ( How to Buy an iPhone on EMI Using a Debit Card?)

Interest Rates

Interest rates are crucial. A lower interest rate means a lower cost of borrowing.


The EMI tenure is another essential factor. Longer tenures mean smaller EMIs but higher interest costs.

Benefits and Drawbacks of iPhone EMI Purchase

Many people have a fantasy of owning an iPhone. The EMI (Equated Monthly Installment) option has made it possible for more people to realise their dreams. The option to purchase an iPhone on EMI includes benefits and drawbacks, just like any other financial choice. (How to Buy an iPhone on EMI Using a Debit Card?)

Advantages of Buying an iPhone on EMI

    1. Affordableness: This benefit's main benefit is how affordable it is. You can pay in smaller instalments to ease the burden on your budget rather than in one large payment.
    2. There's no need to have a lot of money set aside: Purchasing an iPhone outright can be a significant strain on your resources. You don't have to have the entire sum on hand when using EMI.
    3. Flexibility: EMI plans allow you flexible repayment schedules. You can pick a tenure that works with your budget.
    4. Zero down payment options: A few banks or financial institutions provide zero down payment options, allowing customers to purchase an iPhone now and begin making payments the following month.
    5. Credit Score: Making on-time EMI repayments might help you establish an excellent credit score.

Disadvantages of Buying an iPhone on EMI

    1. The final price may be higher: The convenience of making payments over time incurs a fee. The cost of the iPhone may go up due to the interest assessed on the EMI.
    2. EMI is a commitment that will last for a long time. You must make the instalment payment each month, which may have an impact on your financial planning.
    3. Impulsive purchasing: The simplicity of purchasing an iPhone on EMI can occasionally trigger impulsive buying.
    4. Effect on credit score: Missing an EMI payment might have a negative effect on your credit score.
    5. Additional fees: Processing costs or penalties for early loan repayment may be assessed by some institutions.


How to Buy an Apple iPhone on EMI Using a Debit Card?, the bottom line is that although purchasing an iPhone on EMI can make it more manageable and reasonable, it's important to be aware of the risks. Choose an EMI plan that best matches your financial situation by carefully reading the terms and conditions, and comprehending the interest rates, and other fees.

Frequently Asked Questions

Typically, you will need proof of identity, proof of address, and in some cases, proof of income.
Yes, most EMI plans charge interest. However, the rate varies from one bank to another.
Absolutely! With the availability of EMI on debit cards, you can now buy an iPhone on EMI without a credit card.
One potential disadvantage is the interest cost. The total cost of the iPhone could be higher due to the interest charged on the EMI.

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