Over the past 3 years, there have been a handful of smartphone brands that have defied the expectations, and have registered a remarkable year-on-year growth. While Xiaomi initially opened the doors to the Indian smartphone market, unlocking its true potential, brands like Vivo and Oppo have benefitted from the changing consumer sentiment and disposition.
Chinese smartphones, which were once looked down upon, have become the go-to option for the majority of Indian consumers. During the first quarter of 2021, Vivo had shipped 35.5 million handsets globally, and captured 16% of the Indian market share during the same period. In comparison, Samsung captured 20% of the market share, while Xiaomi stood atop with a 26% market share.
Thus, Vivo is currently one of the most popular smartphone brands in the country, and offers exemplary smartphone models at low prices. Similar to other brands, Vivo offers various smartphone lines, catering to different market segments. For instance, the Y-series caters to budget-conscious consumers, while the X-series phones are high-end models. Vivo also offers S-series, V-series, Z-series, U-series, Nex series and iQOO series phones, which cater to different segments. Depending on the consumer requirements and inclination, one can purchase excellent models at various price points.
How can you purchase a Vivo smartphone on EMIs?
While Vivo offers smartphones at reasonable prices, purchasing a new smartphone can be a tricky proposition. If you want to purchase a mid-range device, you might have to spend anywhere between Rs. 20,000 and Rs. 35,000. A mid-premium or premium smartphone can cost you more than Rs. 50,000. During such instances, you can rely on equated monthly instalment (EMI) schemes, rather than depleting your savings.
EMI schemes allow you to divide the total cost of the product into regularly payable monthly instalments, thus providing greater convenience. You can convert the cost of any big-ticket item into EMIs while shopping either online, or at retail outlets. Today, you can use credit cards, debit cards and EMI cards to convert your expenses into EMIs.
However, these EMIs usually entail additional charges, such as processing fees and interest charges. For instance, when you purchase a new Vivo smartphone, the total cost would be divided into smaller fragments (the number of fragments depends on your tenor period). However, there will be certain additional costs that will come appended to these EMI payments. These are due to the interest charges (which can range from 12% to 16% depending on the card issuer), and a one-time processing fee.
Benefits of purchasing items on no-cost EMIs
Thus, if you decide to purchase the latest Vivo mobile on EMIs, you would end up paying 10-12% (on average) more than the cost of the smartphone. However, you can circumvent this amount by opting for no-cost EMIs. No-cost EMIs essentially eliminate the necessity of paying interest charges and processing fees, thus significantly reducing the smartphone price.
For instance, let us assume that you want to purchase one of the best gaming phones available, such as the iQOO 7 Legend. You can purchase the device in three different ways. You can pay the entire amount upfront, which would require a significant one-time investment. Alternatively, you can pay in EMIs, but that would inherently entail additional expenses due to interest charges and processing fees.
The most viable and cost-effective method would be to opt for no-cost EMIs. This way, you can pay for the device over a specified period, without incurring additional fees. This would render the purchase convenient and affordable.
How to avail no-cost EMIs?
Purchasing items on no-cost EMIs is rather simple. You can either use your credit card, or an EMI card such as the Bajaj Finserv EMI Network Card. With the Bajaj Finserv EMI Network Card, you can purchase your favourite items on no-cost EMIs and pay nothing extra.
Furthermore, by shopping at the Bajaj Finserv EMI Store, you get benefits such as No Cost EMI, zero down payment on select products, and free home delivery. The EMI Network Card comes with a pre-approved loan of up to Rs. 4 lakh, and you can choose a tenor between 3 and 24 months.
It is recommended that you purchase big-ticket items on no-cost EMIs, as they render these products affordable, while making it extremely convenient to purchase the item. The EMI Network Card, with its versatile and industry-first features, allows you to gain more from the purchase. You can apply for the card online, and get it activated instantly. You can purchase your favourite items from any of the 1.2 lakh+ partner stores located in 2,900+ cities across the country.