|Rate of Interest||Varies from 13% to 24.03% pa|
|Minimum Age||23 or above|
|Minimum Salary Required||₹ 15,000|
|Loan Amount||Starting from ₹ 3000 to ₹ 5 lakh|
|Annual Fee||₹ 499 plus GST|
Instant approval - get a line of credit of up to
₹ 5 Lakh instantly
Withdraw as little as ₹ 3,000 or as high as your approved limit
Pay interest only on the amount you use
Credit Card to use where you wish and get rewards or withdraw 100% cash
Repay flexible EMI’s while choosing a convenient payment period - 2 to 36 months!
A valid ID proof and address proof are needed to get you started
My old phone recently broke, so I needed a new phone. I wasn't interested in taking it on EMI as I'm going to get my office bonus in May. So, I opted to buy it with cash from MoneyTap. Even though I was getting attractive EMI schemes, I really didn’t want to pay extra for something I'm likely to change in a year or so. Once I get my bonus next month, I'll repay the cash with zero hassles.
(Only certain professionals like doctors, lawyers, or business owners qualify)
Ahmedabad, Anand, Bangalore, Chennai, Chandigarh, Coimbatore, Delhi, Gandhinagar, Hyderabad, Indore, Jaipur, Mumbai, Mohali, NCR, Panchkula, Pune, Rajkot, Secunderabad, Surat, Vadodara, Vijayawada, Vizag
With the connected lives we lead today, mobile phones have become more of a necessity. Right from basic uses to more advanced features like GPS navigation, high-resolution cameras, and advanced processors; mobiles phones have become an integral part of our daily life and they often come with a hefty price tag.
This is where you can let MoneTap make life easier for you with its line of credit that can be used for a personal loan.
With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.
You can buy a phone on EMI, by paying for it using any of the 4 options below and converting the payment into easy EMIs:
To buy a smartphone on EMI without a credit card, you can pay with options like EMI cards, debit cards, and mobile phone loans.
Several online shopping platforms and offline stores have a tie-up with financial institutes, which you can make a payment through, later converting into easy EMIs. Often, you will also get an option of no-cost EMIs.
If you buy a phone online, various platforms will allow you to pay for it using your debit card, where you can choose the option "convert into EMIs" for easy payments.
If you buy a phone from a physical store, you might be required to make an initial down payment. After a quick approval process and a credit score check, the remaining amount can be paid by EMIs with your debit card.
Cell phones are sold under attractive EMI schemes which makes buying a smartphone on EMI a good option. Some phone vendors, online stores and financial service providers also offer no-cost EMIs.
Check for, and compare interest rates before buying a smartphone on EMI. Getting a mobile loan to pay in cash and later making payments in easy EMIs is also a good option to consider.
Yes, MoneyTap's credit line allows you to get instant funds to use as a mobile loan to buy a smartphone without the hassles of documentation with a quick and easy approval process.
When you want to buy a mobile on EMI, MoneyTap’s line of credit works like a mobile phone loan while being more convenient than traditional mobile loans.
MoneyTap approves a credit line in the range of ₹ 35,000 to ₹ 5 lakh. You can withdraw as little as ₹ 3,000 or up to your approved credit limit.
Once you borrow money as a mobile loan, the interest starts to accrue only on the amount used. And you can choose a repayment period of 2 to 36 months.
If you want to calculate your monthly EMIs, use our EMI calculator.