Electronics on EMI: What Documents Do You Need to Apply?

In today’s technological world, our lifestyles have become increasingly dependent on gadgets and smart appliances, including smartphones, laptops, LED televisions, refrigerators, and more. However, purchasing these gadgets can drain your budget, which is why buying electronics on EMI has become a practical and popular choice for buyers. With these options, you can conveniently bring home your favourite gadget models without having to compromise because of the budget.

In this article, we’ll explore the benefits of purchasing electronic gadgets on EMI, the essential documents required, and some important tips for a smooth and seamless experience.

Why is it Preferred to Buy Electronics on EMI?

Many buyers choose the easy EMI plans when purchasing electronic gadgets for themselves, because:

• You won’t have to worry about paying the full amount, as it allows you to split the cost into monthly payments.
• Many providers offer no-cost EMI, allowing you to pay the actual cost without incurring any additional charges interest.
• You can choose a repayment tenure that suits your financial situation, making the EMIs hassle-free.
• Some financial providers offer zero-down payment options, allowing you to obtain the product without incurring any initial costs.
• The easy EMI process includes a smooth verification process with instant approvals.

Documents Required for Electronics on EMI

Here are the essential documents required for the purchase of electronic gadgets on EMI:

• Identity Proof (any one of the following)

1. Aadhar Card
2. PAN Card (usually mandatory)
3. Passport
4. Driving License
5. Voter ID

• Address Proof (any one of the following)

1. Aadhar Card
2. Passport
3. Utility Bills (Electricity, Gas or Water)
4. Ration Card

• Income Proof (if required)

1. Bank Statements (of last 3-6 months)
2. Recent Salary Slips
3. Income Tax Returns

• Other Potential Documents

1. Passport-Sized Photograph
2. Bank Account Details
3. Debit or Credit Card Details

Steps to Buy Electronics on EMI

Follow the steps below when buying electronics on EMI:

• Research and pick your favourite product from the online store of your preferred provider.
• Look for EMI options available and make sure you qualify for the eligibility. Check for offers like no-cost EMI, zero-down payment and other rewards and discounts.
• Submit all necessary documents and ensure they are up to date to avoid any delays.
• Opt for an easy EMI repayment plan that suits your needs and works best for you.
• Once the application is submitted, you can get fast verification and approvals.
• Once your request is approved, you can take possession of the appliance and pay your EMIs on time to avoid any late fees.

Tips for a Smooth EMI Experience

To make sure you get a seamless EMI experience, here are some tips to follow:

• Make sure all your documents are kept current and easily accessible.
• Your PAN card must be linked to your Aadhaar card for easy and seamless verification.
• Upload clear and valid documents to avoid unnecessary delays or rejections.
• When deciding to take electronics on EMI, ensure you review the EMI terms and conditions carefully to avoid any misunderstandings in the future.
• You can also use online tools like EMI calculators for convenient calculations, which help you create a better plan.

Conclusion

EMIs are undoubtedly the best option when it comes to buying high-end electronics and smart gadgets for the home. With these plans, consumers can conveniently purchase premium appliances without depleting their budgets.

Trusted online financial providers like Bajaj Finserv provide a wide range of easy EMI plans on multiple brands, along with dealer offers and exclusive Bajaj offers. Buyers can choose the repayment tenure, receive quick approvals, repay in easy instalments, and take advantage of zero down payment options.

Make sure to have all your documents ready, follow the few simple steps and enjoy stress-free shopping.