Amazon is one of the best shopping websites for Indians. You can get just about anything out there. Shop for mobile phones, laptops or fancy dresses – probably everything can be found on Amazon. That’s why it is one of the best and finest online shopping website.
However, many are looking out for ways in which they can shop on Amazon on EMI. Certain products are expensive, that’s the reason why Amazon desires to sell them off on EMI, which is a payment method where the buyers pay for the order in easy monthly instalments.
Here are the top 10 tips to buy anything on Amazon with EMI.
1. EMI with Debit Card
A huge population of India do not have credit cards. No wonder they stay away from EMIs. Well, not any more. You can purchase on Amazon debit card EMI and get all the benefits along with it.
You just need to have a pre-approved overdraft facility from the bank and that’s good enough. Every month the EMI amount will be deducted from your account. HDFC, SBI, Axis, Kotak Mahindra and ICICI Bank provides such facilities as of now!
2. EMI with Credit Card
Everyone knows how credit card and EMI works. If you have a credit card and want to purchase any product on Amazon, then it’s smooth. Just fill up the form and you are going to get that product in a jiffy. No hassles, no hiccups!
3. Personal Loans by Banks
You can go to any bank and ask for a personal loan. With an EMI calculator, you can get it within seconds. The only hiccup is that you need to be an existing and an active bank customer.
With minimum documentation you can acquire a loan from the bank. The minimum amount, the loan tenure and the interest rates vary from one bank to the other. However, with an online EMI calculator you can calculate everything and then make an informed decision.
4. No Cost EMI
Well, no-cost EMIs will definitely charge you an interest, but it’s an economical deal if you are purchasing something that’s really expensive and rare. This is because the no-cost EMI provides you with the product at the selling price, no discounts, nothing.
Purchasing expensive gadgets that are newly launched on Amazon at the selling price is certainly a great offer.
5. EMI Card
This card is a system that will offer a buyer with a pre-approved loan. Sounds good? Well, get any product with an EMI card and the purchase gets transformed into pre-approved EMIs.
NBFCs dealing with consumer products and all kinds of electrical appliances have the facility of EMI cards.
6. Fintech Lending Company
A Fintech Lending Company can provide you with a personal loan EMI. With clearly laid down terms and conditions, you just need to submit your documentation and you get the loan with relaxed repayment options.
Zest Money and the like are among the top Fintech companies who are doing good business in the EMI sector. Shop on Amazon or any other online portal, Fintech companies are massively connected.
7. Consumer Durable Loan
There are banks that will provide you with the option of Consumer Durable Loans. When shopping on Amazon you need to be a bit tech savvy and apply for the loan on consumer durables online.
If the bank is HDFC or ICICI or any other, but connected with Brand Amazon, then you might get the loan on easy EMI. However, make sure to read the terms and conditions before jumping into it.
8. Startup Lenders
With technology growing day by day, there are a lot of startup money lenders who are keen to provide you with loans for consumer durables like AC, LED TV, smartphones and so on. These loans can be easily availed by providing your Aadhar card details.
With this loan you can make any purchase on Amazon as these loans act as EMI and make things simpler.
9. Amazon Pay EMI (Auto Payment)
Amazon Pay has come up with their card-less EMI that also gets you easy repayment policy. The auto payment structure is a one-time set up policy and you can use it right from your first purchase.
Here, you need to link your bank account or the debit card by performing a verification transaction of just five lacs that will be refunded with 5-7 business days. After this the auto-repayment will be setup on Amazon Pay.
10. Amazon Pay EMI (Manual Payment)
If you are not comfortable with Amazon Pay EMI (auto payment), then there is another EMI option. You can manually pay the instalments using the debit card or netbanking for outstanding balance in total or just for the instalment amount of the upcoming month. Whichever works for you!
So, here you are with the 10 points of how you can buy anything on Amazon with EMI. Shopping had surely never been this easy!