In the modern age, keeping in touch with friends and family using the latest smartphone is a necessity. However, almost everyone struggles to afford the new model smartphones. If you are located in Pakistan and your looking for convenient methods to get a smartphone, consider purchasing a mobile phone on installment pay. This article will explain step-by- step how you can buy a mobile phone on installment in Pakistan while explaining its advantages, the process as well as the best available options.
What is Mobile Phone on Installment Plan?
With a mobile phone on installment plan, paying the total cost of the phone can be done in smaller more manageable portions, thus reducing the strain on one’s budget. Using this payment method can be extremely helpful especially if you want to get a top end smartphone but are unable to pay for it all at once.
Why Select a Mobile Phone on Installment in Pakistan?
Purchasing a new mobile phone in Pakistan, particularly the latest releases, can be very expensive. Mobile phone financing comes with distinct perks:
Affordable Payments:
Compared to paying full price, you have the option of paying a fraction each month.
Convenience of Access:
Mobile phone financing provides access to hot favorites like the new iPhone, Samsung Galaxy, and Xiaomi phones without the need to pay all the money at once.
Fixed payments assist you in effective Budgeting:
It is easy to set aside fixed monthly payments without having to worry about any sudden strain.
No Interest or Low Interest:
Mobile phone installment plans in Pakistan often come with no or very low-interest payments, making them a great deal.
What is the Process for Buying Phones on Installments?
The procedure for acquiring a mobile phone on installment in Pakistan is relatively easy and seamless. Here’s the general outline of the steps involved:
Select A Brand:
The first thing you need to do is pick a brand. It can be an iPhone, Samsung and various other mobile brands. There are lots of options available through phone installment plans.
Criteria Assesment:
Most retailers and mobile providers have a cap limit or threshold that you have to satisfy. For the installment plan, you need to submit a CNIC, bank statement, and sometimes your credit score.
Select the Payment Plan:
Depending on the retailer or mobile carrier, you can choose from various payment periods, typically from 6 months to 24 months. The monthly payment is inversely proportional to the duration of the plan; the longer it is, the smaller the payments.
Recurrence Payment:
As an example, many banks are now offering pre-authorized bank payments for recurring fees. After the agreement is finalized, you start making monthly payments for the next term period. Payments can be deducted from the bank account or pay via a mobile carrier.
Receive Product:
After the phone payment plan is verified and authorized, you obtain your device via courier or through in-store pickup.
Where Can You Get Mobile Phones on Installment in Pakistan?
In Pakistan, various mobile dealers and service providers have set up facilities for mobile phone purchase on installments. Some of the most popular options are:
Daraz: Being the largest online seller in Pakistan, Daraz has a wide variety of mobile phones which can be bought on installment plans offered by different banks and financial companies.
JazzCash and EasyPaisa:
As leading mobile money merchants, JazzCash and EasyPaisa, along with certain retail stores offer smartphone installment plans. These services are convenient as users can pay their monthly installments via mobile wallets.
Mobile Carrier Stores:
Well-known mobile operators such as Jazz, Telenor, and Zong have installment plans for smartphone mobile financing. You can pay off your device using their services.
Local Mobile Retailers:
Numerous retail mobile phone shops throughout Pakistan provide buying on installment schemes in collaboration with banks and telecommunication providers. You may visit shops located in major cities like Karachi, Lahore, and Islamabad for these services.
Mobile Phone Installment Eligibility Criteria in Pakistan
Like most consumer products, mobile phones can be bought on credit under certain conditions in Pakistan. These conditions can differ from shop to shop. The most common prerequisites include:
CNIC:
For identification, a valid CNIC (Computerized National Identity Card) is mandatory.
Proof Of Income
: Retailers usually mandate a proof of income document for guaranteeing payment capability.
Credit Score:
If you prefer a long-term installment plan, certain mobile services providers and banks may insist on a good credit score.
Bank Account:
A registered bank account might be essential for automatically deducting monthly payments.
Advantages of Buying a Mobile Phone on Installment
Cheap high end smartphones like IPhones, Samsung or others becomes accessible through the manageable payment plans offered. Also, as an added benefit, users get to use the phone the moment approval is granted. There is no need to wait for the entire amount to be saved so one can get their hands on the mobile.
No Interest Plans:
There are plans that come with no interest payments which makes it more favorable.
Build Credit:
With proper and timely payments, some installment plans can improve your credit score as they are comigo recorded with credit bureaus.
Conclusion:
Purchasing Mobile Phones on Installments in Pakistan – Some Considerations
Financing mobile phones in Pakistan is helpful for them because it offers ease and affordability in keeping up with new technology. It provides flexible plans, lower interest deals, and several alternatives when it comes to payment. And, financing makes it simple for anyone to have a quality smartphone to use either online or in brick-and-mortar shops.
If you wish to have the most recent phone, select a plan that falls within your financial means using our suggested installment choices above.
