Buy that new phone using this resource, fully online

With global pandemics ever looming large over the general population, it is little wonder that most people shifted to online shopping to get both urgent and non-essential items delivered to their doorstep. The online shopping habit was steadily cultivated over two years from 2020 to 2021, and continues to this day for most people. Apart from daily groceries, work and study material, people have also been buying furniture, electronic gadgets, and even booking cars and flats online.

Making the most of consumers' investment in online shopping, retailers have been offering the best deals on goods online. White goods, mobile phones, laptops and air-conditioners (with the onset of summer) are amongst the most popular online shopping items. If you have been waiting to buy a mobile phone then this is the time to do it.

Why buy a phone online?

Like most things, you can easily buy expensive gadgets like mobile phones and laptops online. Indeed, you can find some amazing festive season deals, or limited edition pieces, when you shop for mobile phones online. Some of them are available with certain online dealers via exclusive tie-ups, while they may be available with other retailers at discounted prices during certain times of the year (for example, during the Diwali festive shopping season).

Buying a mobile phone online is not just quick and convenient, but it often results in savings, too. Online retailers usually have lower pricing for mobile phones than offline mobile stores, so you end up saving money as well as time when you buy the phone you've always wanted, online.

Should you take a mobile loan to buy a phone?

However, high-end smartphones are often expensive. You might have been saving up to buy a certain mobile phone and come across a great deal, but not have all the money required to buy it upfront. You could consider buying it on EMI, but you would rather pay for it in one go rather than in instalments.

A good option to try at this juncture is to take a personal loan, or mobile loan, to buy the mobile phone. Here's why it's a good idea:

• You get the entire sum upfront from a lending app, and you can pay for the phone right away
• Having the cash ready helps you bag a handsome deal on the mobile phone you always wanted to buy
• You can repay the loan in simple EMIs every month for a few months. Meanwhile, the mobile phone is already purchased and in use – you don't need to wait till the loan is repaid in full to be able to possess the phone or use it
• If you have never borrowed a personal loan or any kind of institutional loan earlier, then this provides you a good opportunity to do so and build a credit score. Having a credit score enables you to bag bigger, secured loans in the future
• The loan is available in a few hours from applying for it, when you apply using a leading instant personal loan app in India. All you need is the app installed on your smartphone to get the loan

How to get an instant loan from an app

• Start by downloading a leading instant personal loan app on your smartphone. Choose an app that offers flexible EMIs and is not too rigid about the applicant's credit score.
• Set it up as directed by keying in your personal and financial information as prompted. This takes only a few minutes.
• Browse the app thoroughly to note all the relevant product information such as eligibility criteria, interest rate being offered, repayment terms, documents list and processing fees, among other factors.
  
• Self-attest the required documents and upload them on the app as directed. Meanwhile, complete the application process online and await the app's approval.
  
• Once the documents and other details are submitted, the loan app vets the information and does the required background checks. This is done quickly and if all is found correct, then the loan is approved in a few hours. If not, the app notifies you about the lacunae in the application.
  
• Once approved, the loan is disbursed to your account and you can use the money to buy the mobile phone.