Santa Claus comes around just once a year. In the meantime, there are Credit Cards.

How to Buy Products on EMI Without a Credit Card

Being able to buy big money items on EMI is probably one of the biggest factors that draws people towards credit cards. By availing the credit card EMI facility, you can buy those out-of-reach products that would not be possible for you otherwise.

But there is some more good news for you. There are quite a few options available in the market that allows you to buy high-priced products on EMI without a credit card. These options include both online and offline modes that you can use and pay for your purchases in conveniently manageable monthly instalments.

Non-Credit Card EMI options

The most popular Non-credit card EMI options available in the market today have been listed below

  • Debit card
  • Amazon Pay EMI
  • Through Post Dated Cheques

About the Non-Credit Card EMI options

Debit card

Today, almost every major bank offers the facility of EMI through their debit cards. You can use your debit card to make online purchases on EMI or you can also go for offline store purchases. The conversion would be done without any amount being blocked in your account.

Amazon Pay EMI

Online retailer Amazon has also introduced the EMI facility that can be availed without a credit card. A select set of customers can avail the credit in a seamless way and it doesn’t involve any processing, cancellation, or pre-closure fee.

Through Post Dated Cheques

Select offline stores provide the option of EMI through post-dated cheques to their customers. To avail this, customers have to submit their post-dated signed cheques along with some additional documents to purchase their desired products on EMI.

How to apply for the various Non-credit card EMI options?

Debit Card

You do not have to apply for the debit card EMI if you already have a debit card issued by a bank that offers debit card EMI options. Just check out if that facility is provided by your bank.

Amazon Pay EMI

At present, this facility is offered only to select Amazon customers and therefore, all you need to do is check if you are eligible for the EMI offer and complete a one-time setup for the Amazon Pay EMI facility (if you are eligible). Also, note that this facility can be availed only through a mobile device and the minimum purchase value should be Rs.3,000.

Through Post Dated Cheques

For using post-dated cheques, you need to have a bank account and a sufficient number of cheques to submit it to the retailer.

List of items that can be bought with the Non-Credit Card EMI facility

Although the list of items that qualify for the non-credit card EMI facility purchase is a long one, the most popular among them have been listed below.

  • Electronics like television, refrigerator, washing machine, etc.
  • Gadgets items like smartphones, laptops, headphones, smartwatches, etc.
  • Fashion items like apparel, handbags, clutches, etc.
  • Home décor items like indoor?furnishings, decorative craft products, etc.

How to avail the Non-Credit Card EMI facility to purchase products?

Debit Card

  • For offline purchases, pay the entire amount with your debit card and then contact the customer care centre of your bank and request them to convert the transaction into EMI.
  • For online purchases on major shopping websites like Amazon and Flipkart, you can choose ‘Easy Instalments'?from the payments method and then select your debit card EMI of your bank. If your card issuing bank offers the debit card EMI facility on that product, you would see it on the screen.
  • You may also contact your bank’s customer care centre for the debit card EMI facility.

Amazon Pay EMI

  • If you are among the select customers of Amazon for the Amazon Pay EMI, you would see the same on logging in to your Amazon account through the mobile App. Click on the Amazon Pay EMI registration page and complete the registration by entering the required information.
  • On submitting the details, your profile would be evaluated and the EMI limit would be determined and displayed on the next screen.
  • Next, you have to accept the terms and conditions and then link your bank account/debit card for the EMI repayments whenever you use the facility to purchase anything.
  • While paying for the purchase, select Amazon Pay EMI option and complete the payment.

Through Post Dated Cheques

  • Select offline retailers offer EMI facility through post-dated cheques on specific products. To avail the EMI offers, you have to submit the required number of post-dated cheques along with the list of basic documents that you may be asked for.
  • The retailer would deposit the cheques on their due date and thus your bank account would be debited every month until the entire purchase amount is repaid. Usually, to avail this facility, you would be charged a small interest amount by the retailer.

FAQs on EMI Without a Credit Card

  1. Can I use any bank debit card to register for the Amazon Pay EMI facility?

    At present, debit cards of only a few banks are supported for the Amazon Pay EMI facility. You can check out the complete list of the banks while setting up the Amazon Pay EMI facility. Also, note that Rupay cards are not supported for the auto repayment setup.

  2. How much interest will I be charged if I purchase something on debit card EMI?

    The rate of interest depends on your debit card bank account. It may also offer you no-cost EMI on your purchases. For more information about the interest rate, contact the customer care centre of your debit card issuer.

  3. What eligibility criteria should I meet to avail Amazon Pay EMI?

    To avail Amazon Pay EMI, you must have an account and a verified mobile number. You also need to possess a valid PAN card, an account with one of the select banks, and one valid address proof.

    Also, you must be at least 18 years of age. Amazon would also check your credit history and a host of other factors before approving your request to avail the Amazon Pay EMI facility.

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