First up, you will have to decide which company you want to take a loan from.

There are many companies that provide loans for purchasing mobiles. A few of these are:

- HomeCredit

- Bajaj Finserv

- KrazyBee (only for college students)

- ZestMoney

- Kissht

Go through the websites of these companies and ensure you understand their terms and conditions carefully so that you know all the details of your loan.

Here are a few details of the companies that give loans:

1.HomeCredit is among the leading consumer durable loan providers and offers loans for mobiles at 0% interest and provides the flexibility to choose the monthly repayment amount. One can apply online through HomeCredit's website or even its mobile app for instant approval. Alternatively, one can also approach the company's representatives at its stores. Documents required for loan processing are valid identity card, address, and income proof.

One can repay loans via ECS/direct debit, online transfer, at kiosks, or by requesting cash pick-up.

2. Bajaj Finserv is another financial services company that provides loans for buying smartphones. One needs to apply for Bajaj EMI Card online or at its partner stores and get instant approval. The card can be used for online and offline purchases. The company offers no-cost EMI facility at 0% interest and its loan can be repaid over a convenient tenure of up to 24 months.

3. ZestMoney allows you to avail digital EMIs without credit cards or credit score. One needs to register online, fill out his/her profile, and upload KYC documents to activate the credit limit. Making it an even more effective service, ZestMoney works across popular e-commerce platforms like Flipkart, Amazon,, etc. Loans are digitally processed, and EMIs are collected automatically from customer's bank-account.

4. Kissht is an online EMI card that allows an individual to get instant, affordable, and hassle-free loans from Kissht. One can buy smartphones by availing instant loans from Kissht. This card works across over 50 online e-commerce websites, including Amazon and Flipkart, and 3,000 offline stores across India.

Anyone earning a monthly income of over Rs 12,000 is eligible for the Kissht EMI card. Documentation required for the same are copies of Aadhaar card, PAN card, and a post-dated check.

EMIs are collected from the customer's bank account automatically. I would suggest that you opt for Bajaj Finserv if it meets all your requirements, because it has a good parentage and is an established company, vis-à-vis the others.