If you’re an elementary or middle school teacher, most of your students are probably Gen Z or Gen Alpha.
Hailed as digital natives, using your old and dusty blackboard to engage with these new generations of students simply won’t work anymore.
As they grow up with the internet as a major part of their life, you need to invest in a smart interactive board for classrooms.
While these high-tech tools are not exactly cheap, there are many payment schemes available to ease the burden of purchasing interactive flat panels.
One of them is instalment or EMI, and you can learn all about it in this comprehensive guide.
3 Ways to Buy Digital Board on EMI
Let’s explore the three ways you can choose to purchase the digital board on EMI: with credit card, EMI card, and startup lender.
1. Credit Card
Purchasing a smart board on EMI with a credit card is a straightforward process that can help you manage the cost more effectively.
Here’s how:
- Choose a retailer or online platform
First, decide where you want to buy the smart board. Many electronics stores and online platforms offer smart boards and EMI options.
Make sure the retailer or platform allows EMI payments with credit cards.
- Check EMI options
Once you have selected the retailer, check the EMI options available. Most major credit cards from banks offer EMI schemes.
Look at the duration of the EMI plans, which can range from 3 to 24 months, and check the interest rates. Some retailers offer no-cost EMI, meaning you don’t have to pay extra interest.
- Ensure eligibility
Ensure you meet the eligibility criteria for EMI, which usually includes having a valid credit card with sufficient credit limit.
Some banks also check your credit score before approving EMI transactions.
- Select the EMI plan
Next, choose an EMI plan that fits your budget. You can usually select this option during the payment process, either online or in-store.
For online purchases, look for the EMI option at checkout.
You will need to enter your credit card details and select the EMI option. Ensure all details are correct before proceeding.
- Make a down payment
Some EMI plans may require a small down payment. This is an initial amount you pay upfront, which reduces the total loan amount. Check if your chosen plan requires this and be prepared to pay it.
Once everything is set, you can finish the purchase. The total amount will be converted into EMIs, which will be billed to your credit card every month.
Make sure to have enough funds in your bank account and keep track of your monthly statements to ensure timely payments.
Missing payments can lead to penalties and affect your credit score. Setting up automatic payments from your bank account can help you avoid missed payments.
2. EMI Card
If you don’t have any credit card, there’s the EMI Card as your option. It requires a different approach, but it’s not as complicated as you might think.
First thing first, here’s how you obtain the card:
- Choose a financial institution: EMI cards are offered by several financial institutions like HDFC Bank and Axis Bank. Choose one that suits your needs.
- Check eligibility: Typically, eligibility criteria include age (usually 21-65 years), a stable income, and a good credit score. Check specific requirements of the financial institution.
- Apply online or in-store: You can apply for an EMI card online through the financial institution’s website or visit a branch. Fill out the application form with your personal and financial details.
- Submit necessary documents: You may need to submit documents such as ID proof (Aadhaar card, PAN card), address proof, bank account number, and income proof.
- Pay the registration fee: There might be a one-time joining fee for the EMI card, which varies by institution.
- Verification and approval: After submitting the documents and paying the fee, the financial institution will verify your details. Upon approval, you’ll receive your EMI card.
Afterwards, you can purchase the digital board since the process requires similar steps as using a credit card.
3. Lending Companies
Nowadays, personal money lenders are getting common and can be a reliable hand for you when needed.
Here’s how to buy digital board on EMI with their help:
- Choose a atart-up lender: Look for lenders that offer EMI options for electronics, such as Bajaj Finserv.
- Apply for a loan: Visit the lender’s website or app and apply for a loan. Fill in your details and submit necessary documents like ID proof, address proof, and income proof.
- Get approval: The lender will review your application and documents. If approved, you’ll receive a credit limit.
- Select the digital board: Choose the digital board from an e-commerce store or partner retailer like Saptshankari.
- Choose EMI plan: At checkout, select the EMI option and choose a suitable plan, usually ranging from 3 to 24 months.
- Complete the purchase: Complete the purchase. The total amount will be split into monthly instalments
Conclusion
Buying a digital board on EMI is a smart way to manage your budget while enhancing your classroom with powerful technology.
Not sure how to get started? Our experts here at Saptshankari is always ready to assist.
As a leading provider of interactive flat panels in India, we can help you get the best digital board for teachers on EMI, making the process easy and affordable.
Contact us for a free consultation today!
