27 May 2019
#FinancialBytes: 5 companies that offer gadget loans in India
Almost everyone wants to have the latest smartphones and their favorite gadgets that suit their lifestyle.
But, due to the ever-increasing prices, most people cannot afford to buy their dream gadgets as these are often not budget-friendly. However, there are many companies nowadays that offer loans to customers to purchase gadgets.
Here are 5 companies in India that provide gadget loans.
ZestMoney is a popular online platform for gadget loans
ZestMoney is a popular digital platform that offers gadget loans without the need for credit cards or credit scores.
Customers should register online to activate their credit limit. Loans are digitally processed, and EMIs are collected from the customer's bank account.
ZestMoney also offers loans for travel, furniture, fashion, educational courses, etc. and works across e-commerce platforms like Flipkart, Amazon, Myntra, MakeMyTrip, PepperFry, etc.
Phocket offers gadget loans of up to Rs. 1 lakh
Phocket is another fintech company that offers instant short-term loans, including gadget loans, to salaried individuals.
One can avail loans between Rs. 5,000 and Rs. 1,00,000 for purchasing gadgets.
It offers single-EMI repayment option for loans up to Rs. 10,000 and flexible EMI options of 1/2/3 months for loans above Rs. 10,000.
Bajaj Finserv is another popular option for availing loans
The card can be used for online and offline purchases across its EMI Network retailers. It offers the No-Cost EMI facility effectively at 0% interest.
HomeCredit is another leading consumer durable loan provider
HomeCredit is another leading consumer durable loan provider in the country.
One can avail easily accessible loans for a range of products including mobile phones, laptops, home appliances, and electronics among other things.
HomeCredit offers loans at nominal interest rates and flexibility to choose the monthly installment amount. Customers can apply for loans on HomeCredit's website/app for instant approval or approach the company's representatives.