Jun 25 • 2 mins read
How to Buy an LED TV on EMI If You Don’t Have a Credit Card
From informative shows for kids to soap operas and news channels for grandparents, the “idiot box” offers something for everyone. With smart TVs, you can connect to the internet and play movies, the latest Netflix specials, music and even games. And, high-definition or virtual-reality screens take the entertainment to the next level!
TV offers an escape from the daily grind as well as 24/7 entertainment on demand, so you should certainly get the best one possible.
Buying an LED Television with TV Loans
Available in a huge range of prices, sizes and configurations, LED TVs are no longer considered a luxury by most people. They have become a lot more affordable than they used to be, especially considering the features they provide today. Still, many people prefer to buy an LED TV on EMI or Equated Monthly Instalments through a credit card.
Here’s why buying large gadgets like a TV on EMI is a good idea:
- It helps you avoid wiping out your savings by paying a lump-sum amount in one go.
- It allows you to pay for your purchase in smaller and more convenient amounts.
- It lets you get a larger screen or better features than you can afford right now.
But what about people who don’t have a credit card or sufficient credit on it? Well, here are three non-conventional TV loan options you can use in this case:
1. EMI Cards
A number of financial institutions offer this type of card, which can be used for large gadget purchases on EMIs. These are cards linked to pre-approved personal loans that can be repaid in installments like a traditional loan or credit card. In some cases, you can make higher repayments without early payment penalties, but interest is charged on the complete loan amount.
2. Consumer Durable Loans
Banks and finance companies provide consumer durable loans for large purchases, and you can apply for one while buying a TV. An app-based personal line of credit like MoneyTap works the same way, but it’s more flexible and convenient. Since the credit line is on your phone, you can use it 24/7 and convert purchases into EMIs of your choice with just a tap on the screen!
3. Debit Cards
Certain banks allow you to make debit card purchases on EMI as well, as long as you have sufficient balance in your account. You need to shop at a partner store that’s eligible for this offer, which can restrict your options for finding the best deal on the TV you want. Some lending companies also offer to cover your purchase if you pay EMIs to them through your debit card.
When it comes to upgrading a TV, everyone wants the best model available. Better features means a higher cost, but EMIs can help you spread that expense over a longer term. So, instead of just dreaming about buying a new TV “someday”, download MoneyTap and get it on easy EMIs today!