Have you ever wanted to buy something big, like a new TV or a smartphone, but the price tag makes you hesitate? We’ve all been there. That’s where EMI through debit card payments can make a difference.
Imagine taking that item home today and paying for it in manageable monthly instalments. No need to worry about maxing out your budget or waiting until you save up enough cash. With EMI through debit card, you can immediately spread out the cost and enjoy your purchase. Let’s see how this works and why it might be perfect for you.
What is EMI through debit card payments?
EMI through debit card is a payment option that lets you split the cost of a purchase into smaller, manageable monthly instalments. Unlike traditional credit card EMIs, this method uses your debit card added to your bank account.
When you make a purchase, the total amount is converted into monthly payments automatically deducted from your account each month. This way, you can buy now and pay later without a credit card. It’s a great way to manage finances and make big purchases more accessible.
Benefits of using EMI through debit card payments
Let’s discuss why using EMI through debit card payments is a great option.
- No Credit Card Needed: One of the best things about EMI through debit cards is that you don’t need a credit card. This means you can avoid the hassle of applying for a credit card and dealing with credit limits. Just use your existing debit card and split your payments easily
- Interest-Free Options: Many merchants offer interest-free EMI options when you use your debit card. This means you can buy that expensive item without paying any extra interest. It’s an intelligent way to manage your money while enjoying your purchase immediately
- Easy Budgeting: Spreading out your payments into monthly instalments helps you manage your budget better. Instead of paying a large amount at once, you can pay smaller amounts each month. This makes handling your finances easier and avoids big dents in your bank account
- Quick Approval: The approval process for EMI through debit cards is fast and straightforward. Unlike credit cards, you don’t have to wait long to get approved. Just choose the EMI option at checkout, and you’re good to go. It’s quick and hassle-free
- Wide Acceptance: Many retailers widely accept EMI through debit cards. Whether you’re shopping online or in-store, plenty of places offer this payment option, which means more flexibility and convenience when making big purchases
How to use EMI through debit card
Using EMI through debit card is simple and makes big purchases much more accessible.
Step 1: Select your product
First, choose the product you want to buy at a store or online retailer that provides EMI through debit card. For example, if you’re eyeing a new smartphone at your favorite electronics store, just add it to your cart
Step 2: Opt for EMI
At the checkout, look for the EMI option. You might see options like “Pay in instalments” or “EMI Available.” Select this option to proceed. For instance, choose the EMI option that best fits your budget when buying that smartphone
Step 3: Complete the transaction
Finally, complete the transaction using your debit card. Enter your card details as usual, and the total amount will be split into monthly instalments. The first installment might be deducted immediately; the rest will be deducted monthly. So, when you buy the smartphone, the cost will be divided into manageable payments, making it easier on your wallet
Why more people are choosing EMI through debit card
EMI through debit cards is becoming increasingly popular among shoppers. Here’s why so many people are opting for this payment method.
- No credit score worries: Unlike credit cards, using a debit card for EMI doesn’t impact your credit score. This makes it an attractive option for those cautious about maintaining their credit health
- Direct bank deductions: Payments are automatically deducted from your bank account, so there’s no need to remember due dates or risk late fees. This hassle-free approach ensures you stay on top of your payments effortlessly
- Instant gratification: With EMI through debit card, you can get what you want immediately and pay later. There’s no need to save for months or wait to afford that dream purchase
- Wide range of products: Electronics to furniture, many retailers offer EMI through debit cards on various products. This flexibility allows you to choose from multiple items that suit your needs and preferences
Check your eligibility with an EMI calculator
Want to see if you qualify for EMI through debit card? Use a handy card EMI calculator.
- Easy to use: Visit a website that offers an EMI calculator. Enter your debit card information and the amount you wish to spend. The calculator will show you the EMI options that are available to you
- Quick results: Within seconds, you’ll know if you’re eligible for EMI through your debit card. This helps you plan your purchases better and make informed decisions
You can check your eligibility and use the convenient EMI through debit card option. It’s an easy and efficient way to manage your big purchases.
Make your purchases stress-free
With EMI through debit cards, you can break down your payments into manageable chunks, making shopping hassle-free. Use Pine Labs’ card EMI calculator for a smooth shopping experience. Instantly try checking credit and debit card EMI eligibility, and discover how easy it is to make big purchases affordable.
