Samsung is one of the top electronics brands in India and across the globe. Buying a top-end Samsung smartphone like the Samsung Galaxy Z Fold 3 512GB costs around Rs 1.5 lakhs. If you make a purchase in one go, it may put a big dent in your credit card or savings, creating pressure to manage your monthly expenses. It is especially true if you come from a middle-income group and still wish to own a Samsung top-end smartphone. Hence, it is a no-brainer that you have to opt for a no-cost EMI offer either through your credit card or debit card or a durable loan offered by banks and NBFCs.
Samsung phone EMI payment can increase your monthly expenses until the repayment period. Also, most individuals like zero down payment, and therefore, the total purchase amount is converted to Samsung phone EMI payment which has to be completed within the fixed tenure; otherwise, additional late payment penalties will be levied. So, to reduce the burden of paying the original amount in no-cost EMI, some NBFCs offer cashback along with no-cost EMI on the purchase of a Samsung smartphone. Let’s find out the best method to get cashback with no-cost EMI on the Samsung smartphone.
How does the No-Cost EMI Work?
In the case of regular EMI, while buying a Samsung smartphone, the seller will add a processing fee which can vary between 0.5% to 3%, and a monthly interest rate of 8% to 15%. Ex: An individual opts to buy Samsung Galaxy M21 2021, which costs about Rs 12000, and opts for Samsung phone EMI payment with a regular scheme. The repayment tenure opted for is 6months, and therefore the breakup of EMI will go as follows.
- Repayment tenure: 6 months
- Principal purchase amount: Rs.12,000
- Interest rate: 12%
- Processing charges: 2%
Hence, each month you have to make a Samsung phone EMI payment of Rs 2517. In addition, the interest amount will be Rs 441, and the processing charge will be Rs 220. Therefore, you have to pay a total of Rs 12,691 at the end of the 6month repayment tenure.
In the case of no-cost EMIs for buying a Samsung Galaxy M21 2021, then you don’t have to pay any processing charges or interest on the Samsung phone EMI payment. Here, the tenure will remain the same, and you have to pay a monthly EMI of Rs 2000 for 6 months. The interest charges are 0%, and the processing charge is Rs 0. Therefore, you will be saving Rs 691, which can be treated as cashback for your Samsung mobile phone purchase.
Best method to get cashback with no cost EMI
You can buy Samsung phones at no-cost EMI by making a purchase on their official website. There are many benefits associated with opting for Samsung phone EMI payment with no- cost. Ex: Suppose you are buying Samsung Galaxy S22/S22+, 128 GB storage, and 8GB RAM. The purchase price of this model is Rs 72999.
- If you go for 12 months no- cost EMI, you need to pay Rs 6083.25/ month
- If you go for Samsung Finance + EMI option then,
- Zero Down payment and EMI of Rs 6636.27/month for 11 months. No card is necessary
- Step1: Choose your Samsung smartphone
- Step2: Select Samsung Finance+ as the payment option
- Step3: Get instant approval in 3 minutes
- Step4: Complete the Samsung Finance+ KYC
- Step5: Enjoy your new Samsung Galaxy S22/S22+, 128 GB storage and 8GB RAM.
- You can buy Galaxy Buds2 worth Rs 11999 at Rs 2999 with this phone (You save Rs 9000)
- You can enjoy an exchange bonus of up to Rs 8000 on your old phone exchange
- If you have an HDFC credit or debit card, then you can get a cashback of Rs 5000
- The offer is a limited duration (April 01, 2022, 06:00 PM to April 30, 2022, 11:59 PM)
- The offer is applicable on HDFC Bank Credit or Debit Cards EMI and Credit Card Full Swipe.
- To get a cashback, you must choose a repayment tenure of 6 months and above
- Any partial payment towards EMI or regular purchase transaction is not eligible for cashback
- All credit card EMI transactions must be made under ‘Brand EMI.’
- Rejection and cancellation will make the cashback offer invalid
The above method is the best way to avail of the cashback offer on Samsung phone EMI payment with no-cost.
