Now Buy Mobile Phone and Tablets on EMI without Credit Card from The MobileStore

Now Buy Mobile Phone or Tablets priced more than Rs.4000 on EMI without Credit Card! Yes you read it right. Mobile phone and Gadgets retail chain The MobileStore today announced the launch of a new installment scheme (with interest) for consumers to buy Mobile Phone and Tablets on EMI (equated monthly installments) without a credit card across five cities in the country, first time in India.

The MobileStore EMI scheme

To avail this facility, customer just needs a functioning bank account. The monthly EMI would be debited via ECS (Electronic Clearance System) from the bank account of customer.

Presently the scheme is introduced in Mumbai and will be available in Delhi, Pune, Kolkata and Chennai in one or two days. This will allow prospective consumers to buy smartphones or tablets by submitting their Know Your Customer (KYC) documents of respective bank, along with Residence Proof,ID Proof, Canceled Cheque, Demand Promisary note, ECS Form and Income Proof, The MobileStore (TMC) said in a statement.

The interest rate will be 5% to 15% depends tenure of EMI and a processing Fee of Rs 400 will be applicable for all transactions. For example, if you select a product priced at 10,000 and select an EMI tenure of 15 months, the interest charged will be 15% on Rs. 10,000. The total amount per month will work out to Rs. 767. There will be a processing fee of Rs. 400 charged only along with your first EMI. This is over and above the EMI amount (only for the first month).

The MobileStore has partnered with Japanese company AEON Credit Service India to introduce this solution in order to target the base of consumers without a credit card.

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rajesh
rajesh
May 25, 2016 9:57 pm 9:57 PM

I. Want Samsung j7 2016 can u told me what is the emi calculated

adarsh lama
adarsh lama
May 21, 2016 10:05 pm 10:05 PM

I need a iPhone 5s and I will 1000 /- month

vicky thapa
vicky thapa
May 19, 2016 6:24 pm 6:24 PM

I need iPhone 4s
But I don’t have credit card.
What can I do?

pranav gujarati
pranav gujarati
May 9, 2016 11:02 pm 11:02 PM

I want to coolpad note 3 …give me information.

Prem kumar
Prem kumar
May 8, 2016 1:25 pm 1:25 PM

I want to buy Motorola Mobil moto e2 without credit card..

Rahul chaudhary
Rahul chaudhary
May 4, 2016 8:58 am 8:58 AM

is this service started in gurgaon ncr?????????

vikram singh
vikram singh
May 3, 2016 3:19 pm 3:19 PM

Hello sir I want to purchase samsung j 7
How can purchase this phone

RAJESH
RAJESH
April 30, 2016 7:52 pm 7:52 PM

I want smart phone in emi without credit card am using debit card only

balu
balu
April 29, 2016 7:35 pm 7:35 PM

i want to buy a smart phone in installment i pay 1400/- per month and i can give direct money

balu
balu
April 29, 2016 7:33 pm 7:33 PM

i want to buy 2smart phone in installment i pay rs.1400/-per month and i can give direct money

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