Do you want to buy a new laptop on EMI but don’t have a credit card? Good news! It’s now possible to buy a laptop on EMI using a debit card. However, not all debit cards are eligible for this option.
Several factors determine whether your debit card qualifies for EMI.
First, the eligibility depends on the bank your debit card belongs to. For example, Amazon currently accepts debit cards from HDFC, SBI, Axis, ICICI, Federal, and Kotak Mahindra banks.
Additionally, if you haven’t made any recent transactions with your debit card, you might face issues.
Another important factor is maintaining a higher minimum average balance (MAB) in your savings account, such as Rs 10,000 per month. This ensures that your EMI installments are always covered and won’t go unpaid.
If you take care of these requirements, you are likely to qualify for buying a laptop on EMI using your debit card.
Types of EMI
We’re not referring to the EMI duration but rather the types of EMI that most people often overlook. Many individuals get misled by these options.
There are two types of EMI: regular EMI and no-cost EMI. What’s the difference?
| Regular EMI | No cost EMI |
|---|---|
| When you choose to pay through regular EMI, your EMI amount will include the interest component and processing fees. | When you choose no-cost EMI, there are no additional costs, and your EMIs are interest-free. |
| For example: If you buy a laptop worth Rs 50,000 on a 12-month EMI plan, you’ll end up paying more than Rs 50,000 (Rs 2,000–Rs 5,000 extra) by the end of the term. | For example: If you buy a laptop worth Rs 50,000 on a 3- or 6-month EMI plan, you’ll pay exactly Rs 50,000 (nothing extra) by the end of the term. |
| This type of EMI applies to plans with durations longer than six months. | No-cost EMI is typically available for 3- or 6-month plans only. |
How to avail EMI
You can’t buy just anything on EMI—only certain products are eligible for this option.
To avail of the EMI option, ensure the total cost of the products you’re purchasing is above Rs 8,000.
However, if you have debit cards from HDFC, ICICI, Federal, Axis, or Kotak Mahindra Bank, you can avail EMI on products priced Rs 5,000 or more.
Products below Rs 5,000 or Rs 8,000 (depending on your card and bank) are not eligible for EMI.
Also Read: What is Onside warranty?
Biggest mistake people make
Do you know the biggest mistake people make when purchasing a laptop on EMI?
They select the no-cost EMI option but unintentionally end up paying for regular EMI.
How does this happen? It’s because they choose a 9- or 12-month EMI period.
Remember, no-cost EMI is only available for 3- or 6-month EMI options. If you choose a longer duration, it will automatically switch to regular EMI.
How to buy laptop on EMI with debit card?
- Open the Amazon or Flipkart app/website.
- Search for the product you want to buy.
- Ensure that EMI/No-Cost EMI is available in the product description.
- Click the Buy Now button.
- On the payment methods page, choose the EMI option (usually the second-to-last option).
- Click on Select EMI and then Add a New Card.
- Enter your name, card number, and card expiry date, and then click Add Your Card.
- Wait for the system to process your card. If approved, congratulations—you are eligible to buy the laptop on EMI!
- Once your card is added successfully, you will be redirected to the payment methods page again.
- Ensure the EMI option is selected, and click Continue.
- On the next page, choose how you want to pay: either in full or through EMI.
- If you want No-Cost EMI, select either the 3-month or 6-month EMI option. For other plans, choose as per your preference.
- Click on Choose EMI Plan and carefully review all details.
- Enter your address and place the order.
Congratulations! You’ve successfully purchased your new laptop on EMI using a debit card.
Which EMI option is the best?
Without a doubt, no-cost EMI is the best option. You won’t need to pay anything extra at the end of the 3- or 6-month period.
However, since the EMI duration is shorter, the monthly installment amount will be higher.
On the other hand, if you choose regular EMI, the monthly installments will be lower. But by the end of the EMI period, you’ll pay Rs 2,000–Rs 5,000 extra as bank interest.
Choose the option that best fits your financial comfort and preferences.
You might like these best gaming laptops under 55000.
These were the steps to buy a laptop on EMI using a debit card. If you still have any questions, feel free to ask in the comments section.
